Denver-based industrial investment company Everwest Real Estate is continuing to expand its holdings in the west coast. In one recent deal, the company purchased a two-building warehouse and distribution complex in San Lorenzo for $34.75 million, or about $286 per square foot, according to a recently released third quarter industrial market report from CBRE.
Public records show that the property, located at 2480-2488 Baumann Ave. were previously owned by ESW LLC, an entity affiliated with Richard Selknik of Danville, and is currently occupied by several tenants including Country Malt Group and Custom Freight Systems. According to Everwest Real Estate Investors’ website, the property was purchased as a partial leaseback transaction.
The property totals 121,686 square feet, with one building reaching 40,196 square feet and the other at approximately 81,490 square feet. Both buildings were built in 1968 and sit on nearly 6.6 acres of land, the company’s website shows.
The property is located in the larger San Leandro submarket surrounded by 25.6 million square feet of industrial space. The buildings are just two miles from Interstate 880 and are also just a short drive from Oakland Airport and the Port of Oakland.
EverWest Real Estate Investors is a real estate investment company with a focus on acquisitions, asset management, development and property management services. The company currently has $5.5 billion in assets under management. The company’s portfolio consists of multiple property types across the United States, with approximately 25 industrial properties located in California.