EverWest Pursues Industrial Outdoor Storage Investments With Miami Acquisition
With demand for U.S. industrial space near all-time highs, EverWest Real Estate Investors (“EverWest”) has increased its focus on Industrial Outdoor Storage (IOS) investments, completing the acquisition of a sites offering space solutions for industrial users facing overburdened operations.
“The more U.S. industrial inventory tightens and rents rise, the more valuable Industrial Outdoor Storage sites become as reliever locations for a wide range of logistics activity,” said John Maurer, EverWest’s Senior Managing Director and Head of Portfolio Management. “EverWest is focusing on this sector as a target investment type, recognizing its ability to generate strong cash flow with minimal capex requirements, while solving an industry-wide demand for more, cost-effective space.”
EverWest’s recent acquisition in Miami, located at 400 NW 137th Ave., totals 4.12 acres. The Miami site is improved with perimeter fencing, an electronic gate and onsite lighting.
“These assets share the same demand fundamentals as traditional industrial investments, for all of the reasons we’ve noted,” said Maurer. “Like logistics-related product, location, security and efficiency are key.”
EverWest currently has $5.3 billion in assets under management, invested through separately managed accounts and commingled funds. It provides investment management services including acquisitions, asset management, development and property management for assets throughout the U.S.
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