Denver-based EverWest Actual Property Traders added its first mid-size industrial property within the Houston market to its rising industrial portfolio.
EverWest purchased the just lately accomplished, 109,00-square-foot warehouse at 1301 S. 16th St., La Porte, close to the Port of Houston, for $8.75 million, the corporate mentioned.
The venture, developed by Phelan-Bennett Improvement, represents the final warehouse venture constructed within the space, following an industrial growth moratorium by the town of La Porte, in keeping with EverWest.
Justin Bennett of Phelan-Bennett Improvement represented the vendor, whereas Mark Bigarel, head of acquisitions for EverWest, represented his firm.
The constructing, which is offered for lease, has 28-foot clear peak, a 130-foot truck court docket and 9 dock doorways. EverWest is looking for tenants as small as 40,000 sq. ft.
“This acquisition displays EverWest’s ongoing means to supply and full off-market investments in high-demand areas,” Bigarel mentioned in an announcement. “It’s nicely positioned to fill port-driven demand from small and mid-size customers.”
EverWest has acquired properties within the Seattle, Nashville, Denver, Miami and Southern California metro markets in 2020.