RENTON, WA—Denver-based EverWest Real Estate Investors recently inked the first of several anticipated 2020 industrial acquisitions in Washington State. The latest deal is a $29.5 million purchase and partial sale-leaseback of an industrial building at 851 SW 34th St. in Renton, just outside of Seattle.

EverWest's Ryan Madson, managing director, represented EverWest in the acquisition and sale-leaseback. Arie Salomon and Jeff Forsberg with NAI Puget Sound Properties represented the 34th Street building seller, Alliance Packaging.

"EverWest has been actively pursuing infill industrial opportunities across the US, and this asset fits squarely in our parameters of quality, location, stability and long-term value," said Madson. "This deal was put under contract after the COVID-19 disruption began and, outside of minor delays during early stay-at-home orders, ran smoothly. It is a great complement to our existing portfolio and the first of more industrial buys we hope to complete in the Washington market this year."

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Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.