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EverWest Adds to NJ Portfolio with Meadowlands Sale-Leaseback
EverWest Real Estate Investors has added to its New Jersey industrial portfolio with a $37.1-million warehouse acquisition in Rutherford. Negotiated as a sale-leaseback, the 117,000-square-foot building is fully occupied by Diamond Chemical.
“As a sale-leaseback, this acquisition provides secure conditions under which EverWest can continue to grow its footprint in this highly coveted U.S. industrial submarket,” said EverWest SVP of portfolio management John Maurer. “The Meadowlands offers unmatched access to the ports and the Tri-State population, with a lack of supply and historic demand that is further amplifying value.”
The property adds to EverWest’s existing presence in the Meadowlands, which was established last December with a $66-million, three-building industrial portfolio acquisition in Moonachie. EverWest currently owns more than 2.7 million square feet of industrial space across New York/New Jersey.
The company continues to seek acquisition opportunities in the Meadowlands and the greater New York/New Jersey market.
- ◦Lease
- ◦Sale/Acquisition
