EverWest Signs Full-Building Lease at New 25 North Spec Denver Industrial Project
June 30, 2021
THORNTON, CO (June 30, 2021) – Underscoring the strength of the Colorado industrial market, EverWest Real Estate Investors has preleased a 121,000-square-foot speculative industrial building currently under construction at its 25 North industrial park in metro Denver. Colorado-based Sashco will relocate and expand into the new building, which is located at 14802 Grant St. in Thornton, Colorado. The building is part of the larger, multi-building 25 North industrial park, for which EverWest serves as the project developer and co-owner alongside Invesco Real Estate, a global real estate investment manager. “We are thrilled that Sashco chose to locate their operations in Thornton,” said Thornton Mayor Jan Kulmann.
“Sashco has been a Colorado company for 85 years, providing quality jobs and great products. This project continues to show that Thornton is a great location for manufacturing operations and all businesses looking for the right atmosphere to grow their company. We look forward to working with Sashco during this exciting time of growth for the company.”
“Thornton’s 25 North submarket is seeing strong demand from a variety of industrial tenants,” said EverWest Director of Asset Management Chris Winn. “This building and industrial park offer state-of-the-art, Class A space with superior access to labor and regional distribution capabilities.”
EverWest purchased the 25 North campus in mid-2020 in a joint venture with Invesco Real Estate. At the time of purchase the property included two newly completed, Class A industrial buildings totaling 219,200 square feet, with a pad-ready site available for immediate development.
EverWest broke ground on the 14802 building in August 2020 and delivered the TI-ready core and shell in March 2021. In addition to its three existing buildings, 25 North has 46.4 acres of developable land able to accommodate 595,000 square feet of new Class A industrial development as market demands. Site design and engineering plans for the second phase are currently pending municipal approval.
Founded in 1936, Sashco manufacturers caulks, sealants and stains. It will relocate to 25 North in October 2021, upon completion of tenant improvements.
Steve Hager of Cushman and Wakefield represented EverWest in the lease transaction. The tenant was represented by Matt Trone of Cushman and Wakefield and Tim Maierhofer of Sashco.
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 $3.6 billion in assets under management as of second quarter 2021. 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.com or www.gwlra.com
About Invesco Real Estate:
Invesco Real Estate is a global leader in the real estate investment management business with $82.8 billion in real estate assets under management, 589 employees and 21 regional offices across the U.S., Europe and Asia (as of December 31, 2020). Invesco Real Estate has been actively investing in core, value-add and opportunistic real estate strategies since 1992. Invesco Real Estate is a business name of Invesco Advisers, Inc., an indirect, wholly owned subsidiary of Invesco Ltd. Invesco Ltd. is an independent investment management firm dedicated to delivering an investment experience that helps people get more out of life. NYSE: IVZ; www.invesco.com.
EverWest Real Estate Investors LLC
EverWest Real Estate Investors LLC, a wholly owned subsidiary of GWL Realty Advisors, is a real estate investment and operating company based in Denver, Colorado. The company’s goal is to create significant value for investors through a combination of capital appreciation, strategic acquisition, development, capitalization, repositioning and management of commercial real estate assets. For more information on EverWest, visit www.everwest.com. For more information on GWL Realty Advisors, visit www.gwlra.com.