Overview

Executive Summary

Kidder Mathews has been retained to exclusively market for sale a single story warehouse 8 minutes from I-5 and SR 530 junction. This 29,694 SF building is situated six minutes from downtown Arlington and the refreshed Riverfront Park. Located nearly halfway between Seattle and Vancouver B.C, this warehouse sits on 2.05 acres with 1,848 SF of office space, as well as a small open storage mezzanine. The building is fully leased, with the possibility of renewal in September 2021. The building incorporates both drive-in and recessed loading dock capability with two dock high doors.

This Property has historically had long term occupants due to proximity to freeway, municipal airport, and town center. In the current configuration, this warehouse could be used by a manufacturing company, which make up 18% of the jobs in Arlington. With close proximity to the Arlington Municipal Airport and the quickly expanding aerospace community in Snohomish and North King Counties, it could attract interest from Boeing and their subcontractors. Paine Field, 20 minutes south, could also attract additional tenants.

This offering presents an excellent opportunity to acquire a well-maintained warehouse near Seattle’s buzzing real estate and job markets. An additional value-add opportunity for the Property lies in the possibility of an expansion option on the southerly portion of the building.

Investment Highlights

  • Solid cash flow in a stable industrial business park
  • Excellent access to both I-5 and SR 530, as well as the Arlington Municipal Airport
  • Below market rents provide value-add potential upon lease renewal
  • Ample surface parking surrounding the building
  • Circular drive aisle providing trucks ability to turn around on site
  • One grade level and two dock high doors

Offering Process
This property is being offered for sale at $3,650,000. The ownership will review offers as received and reserves the right to call for offers at a later date.

Property Details

TYPE Industrial
ADDRESS 19704 60th Ave NE
Arlington, WA 98223
PARCEL NUMBER 007463-000-011-00
NRSF 29,694 SF
OCCUPANCY 100%
TENANT(S) Single Tenant- Country Save
YEAR BUILT 2002
BUILDINGS 1
STORIES 1
PARKING Surface - 37 stalls
LAND AREA 2.05 AC
ZONING IND

Building Information

TOTAL GROSS BLDG SIZE 29,694 SF
YEAR BUILT 2002
NUMBER OF STORIES (One)
OFFICE COMPONENT 1,848 SF
INDUSTRIAL COMPONENT 27,840 SF
CEILING CLEAR HEIGHT 24’
ADDITIONAL SURFACES 2 large silos
EXTERIOR WALL Painted concrete tilt-up
DOORS 1 grade level door with 12’ x 18’ opening
2 dock high doors with 10’ x 10’ dimensions
POWER Heavy 3-phase power
FOUNDATION Concrete slab at-grade with concrete spread footings
ROOF TYPE Deck roof with steel bracing
WINDOWS Double pane units

Location

Located in strong, stable Puget Sound Business Park

  • The expansion of the aerospace industry in the Seattle region led Arlington to develop its own municipal airport into an aerospace job center, which includes a high concentration of Boeing subcontractors. As of 2012, the airport has 130 on-site businesses that employ 590 people, with a total output of $94.5 million annually
  • No corporate or personal income tax
  • The City of Arlington plans an increase in the number of jobs by 20,000 by 2035

Due Diligence

Please register to go to gain access to the due diligence documents, which includes the offering memorandum.