August 7, 2020
EverWest Real Estate Investors inked the first of several anticipated industrial acquisitions this year in Washington state. The Denver-based investor completed the $29.5-million purchase and partial sale-leaseback of an industrial building at 851 SW 34th St. in Renton.
EverWest’s Ryan Madson represented EverWest in the acquisition and sale-leaseback. NAI Puget Sound Properties’ Arie Salomon and Jeff Forsberg represented the 34th Street building seller, Alliance Packaging.
“EverWest has been actively pursuing infill industrial opportunities across the U.S., and this asset fits squarely in our parameters of quality, location, stability and long-term value,” said Madson.
Totaling 164,332 square feet, the property offers 26-foot clear heights, dock-high and grade-level doors in a cross-dock configuration, and heavy power. Alliance Packaging, the Northwest’s largest independent corrugated box manufacturer, will continue to occupy roughly half of the building under a long-term, 82,019-square-foot sale-leaseback agreement.
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