July 28, 2020
Denver-based EverWest Real Estate Investors acquired a two-building, 219,000-square-foot speculative industrial project fronting Interstate 25 in Thornton, CO. The I-25 project was purchased in joint venture with Invesco, reportedly for $43.4 million. The property seller was RE II Industrial II LLC.
The property at 14901 N. Washington St. includes an adjacent, pad-ready site where EverWest will soon begin development on a third, 121,000-square-foot Class A industrial building. The site also includes 46.4 acres of undeveloped land that gives EverWest an option to build a Phase II and III, encompassing an additional 590,000 square feet of new Class A, LEED Certified industrial development over time.
EverWest’s Phil Larger says, “With this acquisition we are positioned to answer North Denver’s need for move-in-ready, Class A space in a market with limited immediate supply and where we foresee steady industrial demand for years to come.”
For comments, questions or concerns, please contact Dennis Kaiser