Phoenix & Southwest + Southwest + Industrial | February 26, 2021

EverWest Picks Up Tower Biz Center for $66M

EverWest Real Estate Investor’s latest industrial acquisition pursuit was the acquisition of Tower Business Center, a new two-building industrial portfolio in Aurora, CO for $66.45 million. Located in the Denver airport submarket, the portfolio totals 422,961 square feet and is fully occupied by two national credit tenants under full-building long-term leases.

“This was a rare opportunity to capture class-A product located in the largest and most dynamic industrial corridor in the city, and with more than 12 years of stable contractual cash flow,” said Phil Larger, EverWest director of acquisitions.

Delivered in 2019 by United Properties, Tower Business Center is located at 18701 and 18901 E. 38th Ave. Its buildings total 289,113 square feet and 133,848 square feet, respectively. Collectively the buildings can park 417 cars and 73 trailers.

The 18701 cross-dock building is fully leased to Tempur Sealy. The 18901 building is fully leased to Sprouts Farmers Market.

Jim Bolt, Jeremy Ballenger, Tyler Carner and Jessica Ostermick represented the seller, a joint venture between United Properties and Artis REIT.

EverWest is seeking additional opportunities.

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About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.

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