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Transactions - DECEMBER 19, 2019

EverWest Real Estate fund purchases industrial warehouse property in Southern California

by Released

An open-end real estate fund managed by EverWest Real Estate Investors paid $38.5 million in the leaseback acquisition of 17708 Rowland Street, a 181,730-square-foot industrial warehouse property in an infill location near Los Angeles in the City of Industry, Calif.

JLL marketed the property on behalf of the seller, Newegg Inc., a tech-focused e-retailer in North America.

“EverWest is excited about acquiring another asset in City of Industry, as it is one of the most sought-after and difficult to access industrial locations in the country,” said Erik Good, EverWest managing director for Southern California.

Situated on 8.1 acres, 17708 Rowland Street is in City of Industry, a Los Angeles industrial suburb in the San Gabriel Valley region of Los Angeles County. This high barriers-to-entry location is within a distribution hub and the San Gabriel Valley Industrial submarket. 17708 Rowland Street has easy access to the SR-60, SR-57, I-10 and I-605 freeways and is within 35 miles of Los Angeles International Airport and Ports of Los Angeles and Long Beach.

Built in 1998, the building contains best-in-class features, including a 30-foot clear height, 26,654 square feet of office space, skylights, reinforced concrete construction, ESFR sprinklers, 129-foot truck court, 26 dock doors, and two drive-in, grade-level doors. Newegg Inc. has owned and occupied the building as its corporate headquarters since September 2003.

 

 

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