EverWest Bullish on North San Diego County; Completes $27 Million Industrial Buy
April 20, 2021
VISTA, CA (April 6, 2021) – Representing its second North San Diego County industrial purchase in 60 days, EverWest Real Estate Investors has acquired 2611 Business Park Dr. in Vista, California, for $27 million.
Mickey Morera and James Duncan of Kidder Mathews represented EverWest in the transaction. Dave Pinnegar and Russ Jabara of Kidder Mathews represented the private property seller. The current property tenant, Stone Brewing, will occupy the building under a short-term lease before relocating to a nearby Southern California facility.
The building comprises 125,517 square feet of Class A industrial space. EverWest plans to invest approximately $3 million to upgrade the office, warehouse, and exterior spaces, and will immediately market the building for lease-up.
“North San Diego County demand continues to grow from traditional e-commerce and headquarters users, and a new wave of biotech firms in expansion mode,” said EverWest Managing Director Erik Good. “This building has the features and accessibility that each of these sectors require and represents one of the few larger space opportunities in this rapidly tightening market.”
Built in 1999, 2611 Business Park Dr. features 24' clear height, 130-170' truck courts, secured storage yard, nine dock high/six drive-in doors, and unique additions including 25,000 square feet of refrigerated space and a 320 KW-DC rooftop solar system.
The 2611 Business park Dr. acquisition follows EverWest’s recent $25.25 million purchase of 3209 Lionshead Ave. in Carlsbad, California. That 74,774-square-foot industrial headquarters is fully occupied by prAna Living, a subsidiary of Columbia Sportswear.
EverWest continues to seek out industrial acquisition opportunities throughout Southern California as well as other U.S. growth markets.
About EverWest Real Estate Investors LLC
EverWest Real Estate Investors LLC is a real estate investment advisor providing investment management services throughout the U.S. including acquisitions, asset management, development and property management for our investors. EverWest has $3.5 billion in assets under management as of the fourth quarter of 2020. The firm's clients invest through separately managed accounts and commingled funds. EverWest is headquartered in Denver with regional investment offices in New York City, Charlotte, Los Angeles, and San Francisco metro areas. EverWest is a wholly-owned subsidiary of Canada-based GWL Realty Advisors. For more information, visit www.everwest or www.gwlra.com.