EverWest Secures $61M for Industrial Portfolio

Totaling 111,129 square feet, the building at 2947 Brick Church Pike in Nashville, Tenn., was constructed in two phases. Image courtesy of CommercialEdge

EverWest Real Estate Investors has received $61.3 million in financing for a four-property industrial portfolio totaling 428,488 square feet. JLL Capital Markets brokered the transaction, working on behalf of the borrower in securing the 6-year, full-term interest-only note from J.P. Morgan Global Alternatives.

The portfolio’s occupancy was 98.3 percent at the time of the deal. The assets comprise multi- and single-tenant warehouses, manufacturing and distribution buildings located in New York, Tennessee, Colorado and Washington. Their addresses are:

• 1550 and 1210 E. 73rd Ave. in Denver
• 6335 1st Ave. S. in Seattle
• 2947 Brick Church Pike in Nashville, Tenn.
• 55-30 46th St. in Maspeth, N.Y.

Senior Managing Directors Eric Tupler and Brian Dawson, Managing Director Kristian Lichtenfels, Director Kaden Eichmeier and Senior Director Jillian Mariutti led the JLL Capital Markets Debt Advisory team.

EverWest bought the assets in the last two years

The portfolio features properties with clear heights ranging from 24 to 32 feet, along with a total of 47 dock-high and 17 drive-in doors.

EverWest aquired the 194,711-square-foot Denver property this year from Comunale Properties, for $39.5 million, according to CommercialEdge data. The warehouse and distribution asset is in an Opportunity Zone and comprises two buildings on a 14.3-acre site.

The facility in Queens totals 70,500 square feet. Image courtesy of CommercialEdge.

EverWest bought the Queens property in 2021 for $57.2 million from Wharton Equity Partners, the same source shows. The 70,500-square-foot building features insulated ceilings, refrigerated storage, a two-level office component, two dock-high loading platforms, sky lights and approximately 25 parking spaces.

Totaling 111,129 square feet, the Nashville building was constructed in two phases—in 1996 and 2003. The manufacturing facility is on a 9.8-acre lot and features insulated ceilings, climate control, a two-level office component and around 117 parking spaces. EverWest bought the property in 2021 from a private investor for $11.2 million.

Meriwether Partners sold the Seattle property to EverWest last year, for $15.5 million. Completed in 1969, the 57,540-square-foot building is in the Southern Seattle submarket.

The company has been busy expanding its industrial portfolio in other markets as well. In June, it acquired a two-building distribution center in Rex, Ga. JLL arranged the $30.2 million deal, working on behalf of the seller, InLight Real Estate Partners.