EverWest Enters Houston Mid-Size Industrial Market with $8.75M Port Acquisition
December 29, 2020
HOUSTON, TX (December 21, 2020) – Denver-based EverWest Real Estate Investors has entered the Houston mid-size industrial market with the $8.75 million purchase of 1301 S. 16th St., La Porte, Texas – a 109,000-square-foot, Class A warehouse facility in the Port of Houston.
The building is located less than 4 miles from Barbours Cut Terminal and 4.5 miles from the Bayport Container Terminal. It is the last warehouse project built in the area, following an industrial development moratorium by the city of La Porte.
Mark Bigarel, EverWest’s Senior Vice President, Head of Acquisitions, managed the acquisition for EverWest. The property developer and seller, Phelan-Bennett Development, was represented by its Southwest Regional Partner, Justin Bennett.
The 1301 building features 28’ clear height, a 60’ speed bay, 130’ truck court and nine dock doors, with expandable knock-out doors. It is divisible to 40,000 square feet.
“This acquisition reflects EverWest’s ongoing ability to source and complete off-market investments in high-demand locations,” said Bigarel. “It is well-positioned to fill port-driven demand from small and mid-size users.”
The deal continues EverWest’s active investment in U.S. industrial assets. In 2020 that strategy included acquisitions in the Seattle, Nashville, Denver, Miami and Southern California metro markets.
The 1301 building is available for immediate occupancy.
About EverWest Real Estate Investors LLC
EverWest Real Estate Investors LLC, a wholly owned subsidiary of GWL Realty Advisors, is a real estate investment and operating company based in Denver, Colorado. The company’s goal is to create significant value for investors through a combination of capital appreciation, strategic acquisition, development, capitalization, repositioning and management of commercial real estate assets. For more information on EverWest, visit www.everwest.com. For more information on GWL Realty Advisors, visit www.gwlra.com.