HOUSTON – (Realty News Report) – Denver-based EverWest Real Estate Investors has entered the Houston mid-sized industrial market with the $8.75 million purchase of a new 109,000-SF warehouse facility near 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 building, located at 1301 S.16th St. in La Porte, features 28’ clear heights.
Warehouse Demand at Port Houston
“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.”
Judd Harrison of Colliers International is handling leasing for the property for EverWest.
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.
EverWest Real Estate Investors LLC, a wholly owned subsidiary of GWL Realty Advisors, is a real estate investment and operating company based in Denver.
EverWest also owns a 136,800-SF office building in West Houston at 8101 W. Sam Houston Parkway South.
Dec. 22, 2020 Realty News Report Copyright 2020
File: EverWest Acquires Houston Building for $8.75 Million. La Porte. Judd Harrison, Phelan-Bennett Development.
File: (2) EverWest Acquires Houston Building in La Porte. GWL Realty. Barbours Cut