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EverWest Adds to Tri-State Holdings with Meadowlands Portfolio
EverWest Real Estate Investors has purchased a three-building, 190,032-square-foot portfolio in Moonachie, NJ, within the Meadowlands industrial submarket, for $65,875,000. With the acquisition, Denver-based EverWest has purchased nearly $200 million of Tri-State industrial real estate.
Stephen Feinberg, director of Northeast acquisitions, directed the transaction for EverWest. Gary Gabriel, Kyle Schmidt, David Bernhaut and Seth Zuidema of Cushman & Wakefield represented the undislcosed seller.
“It is extremely rare for a three-building industrial portfolio to become available for sale in the Meadowlands,” said Feinberg. “Thank you to the Cushman and Wakefield team for helping to grow EverWest’s industrial presence in one of the nation’s most highly desirable submarkets.”
Added Schmidt, “Representing multi-generational ownership in this transaction was a pleasure. The properties’ below-market, in-place rent and remaining lease terms offered a compelling value proposition for EverWest and makes for a great addition to their portfolio.”
- ◦Sale/Acquisition
