Evergreen Ave between Noll and George Streets is a strange, often unwelcoming, industrial part of Bushwick. However, it seems that the area will change drastically in the upcoming years. Commercial Observer reported yesterday that a warehouse building, which originally used to serve as Schlitz Brewery back in the glorious days of Bushwick as a national brewery mecca, has been sold yesterday to a trio of investors. Hornig Capital Partners, Savanna and Chelsea Village Associates have purchased a 170,000-square-foot warehouse at 95 Evergreen Avenue in Bushwick for the price of $33.7 million.
The building built in 1950 is five stories tall and is currently used for light manufacturing and distribution by several tenants, including the seller. The warehouse hasn’t changed hands in 30 years.
The investors told Commercial Observer that they will convert the building into “creative loft office space, catering to the creative-class of professionals moving into the area,” as they see a “solid upward trends in demand for office from both creative and tech companies” in Bushwick. With tech startup Livestream taking over the former 3rd Ward building, and the growing number of small companies at Brooklyn Desks, it is safe to say that the trend exists.