The recent acquisition allowed ProAmpac to assign its purchase option to EverWest.
AUBURN, WA—Within the supply-constrained Auburn market, just south of metro Seattle, the current industrial market vacancy rate sits at just 2%, with a limited development pipeline. This compares to a 3.1% industrial vacancy rate in metro Seattle and a 5% industrial vacancy rate in the greater US, according to EverWest Real Estate Investors.
This low vacancy, coupled with historically low availability, resulted in the purchase of a three-building industrial portfolio. With this purchase, EverWest Real Estate Investors, in partnership with a Colorado-based investment fund, has increased its presence in the Pacific Northwest to almost one-half million square feet of industrial space.
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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.
