Denver-based EverWest Real Estate Investors has entered the Houston mid-size industrial market with the $8.75-million purchase of 1301 S. 16th St. in La Porte. The project was the last warehouse project built in the area, following an industrial development moratorium by the city of La Porte.
Located in the Port of Houston, the 109,000-square-foot warehouse facility is less than four miles from Barbours Cut Terminal and 4.5 miles from the Bayport Container Terminal.
Mark Bigarel, EverWest’s hHead of acquisitions, managed the acquisition for EverWest. The property developer and seller, Phelan-Bennett Development, was represented by its Southwest regional partner, Justin Bennett.
“This acquisition reflects EverWest’s ongoing ability to source and complete off-market investments in high-demand locations,” said Bigarel. “It is well-positioned to fill port-driven demand from small and mid-size users.”
Judd Harrison of Colliers International is handling leasing for the property.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
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