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April 13, 2005

Evergreen Completes $27.3M Purchase of Redmond, WA, Single-Tenant Industrial Center

PASADENA, Calif.--(BUSINESS WIRE)--April 12, 2005--Evergreen Development, LLC today announced the purchase of a manufacturing/distribution facility in Redmond, WA, for Genie Industries, a subsidiary of Terex Corporation (NYSE:TEX), for $27,300,000 in a 1031 Exchange private placement of securities.

The 196,100 gross sq. ft. facility with two interconnected buildings provides manufacturing, testing and distribution area for aerial and lift platforms.

The acquisition was on behalf of individual investors of regional securities broker/dealers in a tax-deferred transaction, one of six tenant-in-common 1031 Exchange programs sponsored by Evergreen in the first quarter of 2005 totaling more than. . . full release here.

April 13, 2005 |

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