SINGLE TENANT INVESTMENT OFFERING 616 SOUTH 348TH …SINGLE TENANT INVESTMENT OFFERING 616 SOUTH...

SINGLE TENANT INVESTMENT OFFERING

616 SOUTH 348TH STREETFederal Way, Washington 98003

22,590 SF single-story office building within walking distance to St. Francis Hospital Complex

DSHS Building

DSHS BUILDING2

This property is offered on an as-is basis. Seller will consider offers on an all cash or cash-to-new-loan basis only. Legal documents and reports summarized in this Offering Memorandum are not intended to be comprehensive statements of the terms or contents of such documents and reports. Although the Seller and Colliers International believe the information to be accurate, no warranty or representation is made as to its accuracy or completeness. Interested parties should conduct independent investigations and reach conclusions without reliance on materials contained herein.

The Seller reserves the right, for any or no reason, to withdraw any property from the market. The Seller has no obligation expressed or implied, to accept any offer. Further, the Seller has no obligation to sell any property unless and until the Seller executes and delivers a signed contract of sale on terms acceptable to the Seller, in its sole discretion. By submitting an offer, the offeror will be deemed to have acknowledged the foregoing and agreed to release the Seller from any liability with respect thereto.

The material contained in this Offering Memorandum is confidential, furnished solely for the purpose of considering the purchase of the property described herein and is not to be copied and/or used for any other purpose, or made available to any other person without the express written consent of Colliers International or the Seller.

Please deliver offers to the office of the Exclusive Listing Broker, Colliers International to the attention of Bret Jordan and Pat Mutzel. To expedite the review of offers, offerors are encouraged to provide information relative to funding sources, experience in owning and operating similar properties, familiarity with the market and any other information which is likely to favorably reflect on the offeror’s ability to close this proposed transaction in a timely manner.

Due to the nature of the occupants use. prospective tours of the office interior will only be available to the successful buyer that puts the property under contract.

COLLIERS INTERNATIONAL11225 SE 6th Street, Suite 240Bellevue, WA 98004www.colliers.com

BRET JORDANManaging Director425 453 [email protected]

PAT MUTZELVice President425 453 [email protected]

DISCLAIMER

DSHS BUILDING4

TABLE OF CONTENTS

EXECUTIVE SUMMARYInvestment Summary ...................................................................6

Market Highlights ...........................................................................7

Regional Aerial .................................................................................8

Northeast Property View .............................................................9

SoutheastProperty View ........................................................... 10

PROPERTY OVERVIEWProperty Description .................................................................. 12

Building Specifications ............................................................... 14

Site Plan ......................................................................................... 15

Floor Plan ....................................................................................... 16

MARKET ANALYSISSubmarket Overview .................................................................. 18

Federal Way Overview ............................................................... 19

Regional Market Overview ....................................................... 21

FINANCIAL ANALYSISProperty Cash Flow ..................................................................... 28

Rent Roll & Property Summary ............................................... 29

Market Assumptions Summary .............................................. 30

EXECUTIVE SUMMARY

EXECUTIVE SUMMARY | DSHS BUILDING6

INVESTMENT SUMMARYThe Department of Social and Health Services Building is a single-story, walk-up office building. Originally built in 1993, the building was extensively renovated and expanded in 2000 to meet the specifications of the current tenant, the State of Washington Department of Social and Health Services (DSHS). The original building constructed had 13,798 SF. The 9,500 SF east wing was added during the 2000 renovation along with upgrades to the HVAC and electrical systems and installation of sprinklers during the renovation. The DSHS contributed close to $300,000 towards the renovations.

Extensive tenant improvements were performed in 2011. A summary of the improvements are as follows:• Restriping of parking lot• New paint, and carpet/flooring throughout• Repair roof leaks

• Installation of a new fire panel• Clean all HVAC ductwork• Replace all HVAC thermostats with 24/7 programmable units

DSHS BUILDING | EXECUTIVE SUMMARY 7

MARKET HIGHLIGHTSLOCATION

» Within walking distance to St. Francis Hospital complex. » Easy access to I-5 via South 348th Street. » Close to a wide array of retail and service amenities: Costco, Home Depot, Lowes, U.S. Post Office, and Walmart.

OPPORTUNITY » A single story, walk-up office building containing 22,590 rentable SF total. » Built in 1993, with an addition and complete interior remodel in 2000. » Single tenant – New five year lease renewal. In place since 2000. » High parking ratio for location: 4.25 stalls/1,000 SF - 96 surface stalls. » Situated on a 2.68-acre site, zoned OP (Office Park) by the City of Federal Way.

STRONG ECONOMICS » 100% leased by the Washington State Department of Social and Health Services, in their 16th year of occupancy.

PRICE616 South 348th Street - DSHS Building is offered $6,000,000.


REGIONAL AERIAL

THE COMMONS AT FEDERAL WAY

DISTRIBUTION CENTER

S 348th Street

18

PORT OF TACOMA

DSHS Building

DSHS BUILDING | EXECUTIVE SUMMARY 9

NORTHWEST PROPERTY VIEW

DSHS Building


SOUTHEAST PROPERTY VIEW

DSHS Building

S 348th Street

PROPERTY OVERVIEW

PROPERTY OVERVIEW | DSHS BUILDING12

ADDRESS: 616 South 348th Street, Federal Way, WA 98003PARCEL NUMBER: 926480-0020LOT SIZE: 2.68 acres (116,701 square feet)TOTAL BUILDING SIZE: 22,590 RSFSTORIES: One floorYEAR BUILT: 1993, with extensive renovation and eastward expansion in 2000ZONING: OP (Office Park)CONSTRUCTION TYPE: Concrete tilt upPARKING: 96 surface stalls

ACCESS, INGRESS/EGRESSThe property is located along South 348th Street, a four-lane arterial. The property can be accessed directly from South 348th Street and from 6th Avenue South which runs west of site. There is one curb cut along South 348th Street that provides the primary site ingress/egress. Overall, access, ingress and egress are excellent for commerical/office use.

SHAPE, TOGOGRAPHY, & F.A.R.The property site is irregular and has a slight slope from west to east at the northwest corner of the site. The current F.A.R. is 0.19.

IMMEDIATELY SURROUNDING PROPERTIESImmediately surrounding properties include St. Francis Hospital and low- and mid-rise office/medical buildings to the north. East of the property are similar low-rise office/industrial buildings and the retail shopping center, The Crossings at Federal Way. West and south are single family residences.

VISIBILITY & EXPOSUREThe property fronts South 348th Street a half mile east of the intersection of South 348th Street and Pacific Highway South. The property’s visibility is average with a slight upward sloping driveway and modest set back of the building. Exposure is above-average with a daily traffic count, per the City of Federal Way, of 25,000 - 35,000 cars per day on South 348th Street.

PROPERTY DESCRIPTION

DSHS BUILDING | PROPERTY OVERVIEW 13

PARKINGThere are 96 on-site asphalt-paved parking stalls. 26 spaces are available in the front of the building and 70 are located north of South 348th Street behind the building. The total space count is equivalent to a parking ratio of 4.25 spaces per 1,000 SF of rentable area.

FLOOD ZONEAccording to FEMA panel 53033C-1250F, dated May 16, 1995, the property resides in Zone X and is outside the 500-year floodplain hazard area.

UTILITIESAll public utilities are available to the property.

ZONING & LAND USEThe property is zoned OP (Office Park) by the City of Federal Way. OP allows for a general office and retail uses. Building elevations typically may not exceed 55’ under this designation without meeting several additional criteria. Setbacks are 25’ at the front of the property and 20’ along the sides and rear. Required minimum parking for general office use is set at oen space per 300 SF of gross floor area.

No maximum lot coverage is established. Instead the buildable area is determined by the other side development requirements, i.e., required buffers, parking lot landscaping, surface water facilities, etc.

PROPERTY DESCRIPTION, cont’d.


EXTERIOR FINISHExterior finishes include brick façade, dual pane windows in vinyl frames and a flat, built-up roof with aluminum downspouts.

INTERIOR FINISHInterior finishes include gypsum wallboard interior walls; drop ceilings with ceiling panels and recessed fluorescent lighting. Floor coverings include commercial-grade carpeting throughout the cubicle area and laminate in customer service and kitchen/break room areas. There are two restrooms located at the center of the buildings. Primary unit access for the public is via the entry doors located off South 348th Street. A private entrance for employees is located at the rear northeast corner of the subject site. The common area break rooms and restrooms are centrally located and demise the building in half.

TENANT IMPROVEMENTSExtensive tenant improvements were performed in accordance with the lease renewal of the DSHS in February 2011. A summary of the improvements is as follows:

> Restriping of parking lot > New paint, and carpet/flooring throughout > Repair roof leaks

> Installation of a new fire panel > Clean all HVAC ductwork > Replace all HVAC thermostats with 24/7 programmable units

ROOFA flat, built-up roof with a mixture of elastomeric ballasted rubberized material covering the original portion of the building and BUR built-up torchdown over the 2000 addition.

FOUNDATION/FRAMEConcrete slab with masonry frame.

HVACThe building has thermostatically controlled warmed and cooled air. The HVAC system, installed in 2000, is operational and is in very good condition.

FOUNDATION/FRAMEConcrete slab with masonry frame.

LANDSCAPING/SITE IMPROVEMENTSSite landscaping is moderate to the front of the site with a variety of evergreen trees, shrubs and bushes. The rear of the building has minimal landscaping with evergreen trees lining the far east end of the parking lot.

BUILDING SPECIFICATIONS

DSHS BUILDING | PROPERTY OVERVIEW 15

SITE PLAN


FLOOR PLANFLOOR 1

MARKET ANALYSIS

MARKET OVERVIEW | DSHS BUILDING18

THE FEDERAL WAY SUBMARKET is located on the shore of Puget Sound between Seattle and Tacoma. It’s central location is at the heart of the vibrant Puget Sound region. Served by Highway 509 and Interstate 5, the west coast’s main freight corridor, access to Federal Way from other Greater Seattle and Tacoma communities are quick and easy. Nearby SeaTac airport and the Port of Seattle and Port of Tacoma provide additional direct transportation connections for goods and services.

Federal Way is home to world-class companies, as well as mom-and-pop businesses of all kinds, with the city boasting the second-highest number of businesses in South King County. With more than 57,000 working-age residents, yet only about 32,000 total jobs in the city, Federal Way is poised to supply a wide range of well-educated workers to a variety of new businesses. Major employers are; Federal Way School District, Weyerhaeuser, City of Federal Way, US Postal Service, St. Francis Hospital, World Vision, Enchanted Parks and Costco. Additionally, Federal Way has several upcoming projects that will diversify the city’s employment base and strategically position Federal Way for the future.

INVENTORY53 buildings,

totaling 2,131,213 RSF

TRANSACTIONS48 sale transactions,

totaling $187M

SUBMARKET OVERVIEW

DSHS Building

DSHS BUILDING | MARKET OVERVIEW 19

FEDERAL WAY OVERVIEW

DEMOGRAPHICSDuring the period 2000 – 2014, the population of Federal Way has increased by 11.3%. The majority of the population increase has been due to the migration of people into the two cities, which is a result of the fairly stable economy and exceptional quality of life. The comparatively low cost of living, coupled with the area’s competitive cost of doing business, create an outstanding environment for businesses and residents to work, play and live. Currently there are 93,425+ people living within the city limits of Federal Way.

EDUCATIONFederal Way is serviced by the Federal Way School District. The district serves all of Federal Way and parts of three other cities – Auburn, Kent and Des Moines – and unincorporated King County. The district’s area encompasses 35 square miles. There are 21 elementary schools, and nine middle schools and five high schools within Federal Way. The district employs over 2,668 staff members, and has over 23,144 enrolled students.

Additionally, Highline Community College in nearby Des Moines offers higher education opportunities for the area. Currently there are approximately 10,000 students and 350,000 alumni of the college. Highline Community College has several nationally accredited programs of study. The college itself is accredited by the Commission on Colleges and Universities of the Northwest Association of Schools and of Colleges and Universities.

TRANSPORTATIONFederal Way is easily accessible from Interstate 5 and State Route 509. The city is located 10 miles south of the Sea-Tac International Airport. Federal Way is well-served by RapidRide and light rail mass transit, making commuting to and from work simple and convenient for employees.

SIGNIFICANT AREA EMPLOYERS

202

18

18

169

167

99

5

519

599

520

5

90

5

55

5405

5405

526

525

522

202203

Seattle

Mercer Island

Kent

Federal Way

Tacoma

Issaquah Snoqualmie Ridge

Kirkland

Bothell

Lynnwood

Edmonds

Shoreline

Everett

Renton

Bellevue

Fall City

Carnation

Redmond

Sammamish

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DSHS BUILDING

The Commons at Federal Way


FEDERAL WAY OVERVIEWNEW DEVELOPMENTSAdditionally, Federal Way has several upcoming projects that will diversify the city’s employment base and strategically position Federal Way for the future:

» Performing Arts and Conference Center - The City plans to build a Performing Arts and Conference Center (PACC) in the downtown core. The PACC will accommodate conferences, seminars, events, nonprofit and community meetings. The Performing Arts and Conference Center will provide a much-needed community cultural venue to accommodate the increasing number of community cultural events that currently must seek venues outside the city for most performances. Construction will generate $59 million in spending and 338 jobs, and that the ongoing operations of the center could generate approximately $3.2 million in new annual spending.

» Town Center - Federal Way has been striving to develop a Town Center, with various development plans coming and going over the years. City officials reached a tentative agreement to buy the vacant, 8-acre property at the northeast corner of 21st Avenue South and South 316th Street. The acquisition would give the city control of three of the four blocks at the corner of South 316th and 21st Avenue South, where the city is building its Town Center project. Already built is a park at the southwest corner, and the city and a private developer plan to break ground in January on $32 million performing arts and conference center and hotel at the northwest corner. The fourth corner is a transit center.

St. Francis Hospital

Federal Way Transit Center


PUGET SOUND AREA DESCRIPTIONThe Puget Sound region is the largest business center in the Pacific Northwest with cutting-edge companies and an unmatched spirit of innovation. The region is home to some of the world’s most successful businesses including Microsoft, Costco, Nordstrom, Boeing, Amazon.com, Starbucks, Nintendo of America, Targeted Genetics, Weyerhaeuser, PACCAR, Safeco, and many more. Led by the strength of the regional commercial aircraft and information services industries, the Puget Sound economy is well diversified and stable. Boeing has maintained its strong run of orders through international demand and the tech sector is expanding far beyond the Microsoft empire. The unemployment rate in the Greater Seattle region is much lower than the national average, sitting at 4.6%.

HIGH-TECH INDUSTRIESThe Puget Sound takes great pride in its high-tech sector which includes software and internet-based companies as well as advanced technology manufacturers. Companies are drawn to the area for many reasons. Since 2006, Seattle has had a higher percentage of residents with advanced degrees than anywhere else in the nation. Young, educated high-tech workers find the downtown cores of Bellevue and Seattle to be an extremely attractive place to live, work and play. High-tech companies benefit from close proximity to the University of Washington. The UW’s world-class research and educational opportunities foster the growth of new companies, promote collaborative ventures and help ensure the availability of a highly skilled workforce. The cluster of prominent and dynamic high-tech firms already located here is another major appeal bringing new businesses to the area. Information and communications technology (ICT) companies such as Microsoft and Amazon generate annual revenue within the State of Washington of $13.6 billion and account for a total of 186,800 ICT jobs.

AMAZON | The talent pool for information technology professionals in the Seattle region is so rich that many companies have identified this community as a key location for the future growth of their business. South Lake Union boasts Amazon’s new headquarters and is expected to attract many new businesses to the region. South Lake Union has transformed from a warehouse district into a thriving hub of workers and retailers, all converging on the location thanks to Amazon’s wealth of employees who are already in the area. Amazon has a total of 4,200,000 SF in South Lake Union, spanning over 11 buildings. With the

REGIONAL MARKET OVERVIEW


construction of the new Amazon towers in the Denny Regrade and other proposed sites, Amazon will have room for an additional 45,000 employees.

MICROSOFT | The information technology sector is the second largest industry in the Puget Sound area including about 3,000 companies totaling upwards of 191,000 employees. Microsoft, which has its headquarters and other research and development facilities in the Seattle area, employs 41,589 people locally, and 84,283 worldwide. Heightened demand for Microsoft products will sustain Microsoft’s employment for years to come. Microsoft also has significant cash reserves that it uses to finance the expansion of their operations and to expand the company’s global reach.

MANUFACTURINGPuget Sound’s manufacturing sector accounts for nearly 87% of the state’s total exports and almost 20% of the state’s living-wage jobs. According to the US Census Bureau, in 2013 Washington State ranked 4th among states in exports, amounting to $81,637,000 in total exports. This number makes up 5.4% of total U.S. total exports, making Washington’s manufacturing sector extremely important to the nation’s balance of trade.

BOEING | Aerospace has long been the largest industry in the Seattle region, thanks to the Boeing Company. As of 2013, Boeing employed 84,013 workers in the state of Washington. The state of Washington estimates that there are over 150,000 additional jobs associated with the aerospace industry.

In 2014, Boeing posted all-time high jet sales and deliveries. Boeing delivered 723 commercial airlines to customers, 75 more than in 2013. The increase in deliveries was due to the ramp-up in production of the 787 at the Everett plant and the 737 at the Renton plant. The Renton plant rolled out a record 485 planes, including 11 P-8 anti-submarine aircraft. The jet-maker also posted 1,432 net orders, surpassing the previous all-time sales high of 1,413 net orders in 2007.

Also in 2014, Boeing and their local machinists union signed a contract that will guarantee construction of a new long-range wide-body aircraft in the Puget Sound region. The new contract is eight years and takes effect in 2016. The new contract means Boeing will build the composite wing for the 777X and assemble the plane in its Everett plant. The contract assures about 20,000 employees who will work on the 777X that they will be located in Washington State for at least another decade. The new facility will be approximately 1 million square feet and construction on the new facility is scheduled to begin later this year. Washington State officials have estimated that the 777X would be worth about 20,000 jobs and $20+ billion in economic activity. Since the 777X launched in November 2013, Boeing has received 280 orders.



PORT OF SEATTLE / PORT OF TACOMABecause of its proximity to growing markets in the Pacific Rim, the Puget Sound is expected to experience continued economic growth through international trade. The dramatic economic development and trade expansion of Pacific Rim countries, especially China, has had a significant impact on the region. Trans-Pacific trade with the United States surpassed Trans-Atlantic trade for the first time in 1985 as a result of increased volume and shorter shipping times between Asia and the Northwest. Key exports are aircraft, engines and parts, agricultural products, and wood products. The ports of Seattle and Tacoma are among the 10 largest container ports in the nation; they serve as the receiving point for trade between the United States and Pacific Rim nations. State-of-the-art cargo handling facilities helped rank Seattle as the nation’s 8th busiest U.S. seaport in 2012, serving 18 international steamship lines moving more than 1.88 million TEUs (20- foot equivalent unit containers). The port also operates four public marinas, and manages a number of real estate assets for financial return and broad economic advantage. The Port of Seattle’s economic impact is strong. Seattle’s Seaport and Airport generate nearly 200,000 jobs throughout the region with payroll in excess of $6.8 billion. Over the next 25 years the Port of Seattle will add 100,000 jobs through economic growth, for a total of 300,000 port-related jobs in the region. On October 7, 2014, the Port of Seattle and Port of Tacoma announced an agreement to jointly market and operate the marine terminals of both ports as a single entity. The two ports are collectively the third-largest port for container shipments in the country.

TOURISMTourism is Washington State’s fourth largest industry behind the aerospace and software industries. The Puget Sound has long had a healthy tourist element in its economy. The King County area attracts over 10 million people annually. These visitors spend upwards or $5.9 billion every year and contribute greater than $479 million in tax revenue for the state. According to the Seattle Convention Center and Visitors Bureau, Seattle’s Convention Center attracted 411,813 visitors at 459 conventions throughout 2013. Spending by out-of-state event attendees and exhibitors to the Convention Center has been calculated at $313,006,926 for 2013.



Seattle continues to remain competitive with Vancouver B.C. in passenger numbers, validating Seattle’s strong position in the Alaska cruise market. Seattle welcomed 870,994 passengers in the 2013 cruise season. The cruise industry was responsible for more than 4,000 jobs in the region, $381 million in annual business revenue, and $16.8 million in state and local taxes in 2013.

HEALTHCARE AND BIOTECHNOLOGYSeattle’s healthcare cluster (hospitals, healthcare products and services, training and research) accounts for 96,000 jobs and contributes over $10 billion annually to the local economy. Seattle is a hub for global health organizations nonprofits. The Bill and Melinda Gates Foundation, PATH, the Benaroya Research Institute, and many other world health organizations call Seattle home. Together their endowments amount to more $3.6 billion and their proximity to Seattle’s ICT sector has led to exciting new developments in healthcare regionally, nationally and worldwide. Seattle’s strong position in healthcare, biotechnology and information technology has led to new collaborative developments in bioinformatics (using databases and algorithms to enhance biological research) and health informatics (using computer technologies for the collection, storage, communication and optimal use of health related data).

SOUND TRANSIT – LIGHT RAIL INFRASTRUCTURESound Transit is continuing an aggressive program to better integrate major transportation modes, especially with light rail. Seattle-Tacoma International Airport is the nation’s 15th busiest airport, handling more than 34.7 million passengers in 2013. The airport is a world-class facility with a regional economic impact of over $13.2 billion. Sea-Tac generates over 138,000 jobs (89,902 direct jobs) representing more than $2.2 billion in direct earnings and $412 million in state and local taxes. To handle the large volume of passengers, Seattle has recently finished connecting downtown to SeaTac by light rail. Trains now carry passengers through 13 stations and run 4.4 miles on elevated tracks, 2.5 miles in tunnels and 7 miles at grade. To integrate the light rail with the existing bus infrastructure, Sound Transit has retrofit the downtown Seattle Transit Tunnel and its existing stations for joint use by both light rail trains and buses.



LOGISTICS AND INTERNATIONAL TRADEOne in three jobs in Washington state support the trade industry. The region’s strategic location on the Pacific Rim deepwater port and vast experience in international trade make it one of the leading trade hubs on the West Coast. In 2009, Washington State ranked 4th in the nation in terms of overall export value (behind only Texas, California, and New York, in that order) with 206 foreign destinations. The total value of merchandise exports from Washington State exceeded $51.5 billion in 2009 or 16% of state GDP. Nearly three-quarters of Washington’s exports are from the central Puget Sound region. International trade directly and indirectly provides nearly 740,000 jobs annually. While the state represents about 2% of the nation’s population, its ports handle 7% of all U. S. exports and receive a 6% share of the nation’s imports.

CLEAN TECHNOLOGY The Clean technology industry in Seattle/Washington State accounted for 101,593 “green jobs”, as outlined in the Bureau of Labor Statistics March 2013 report. The sectors of wind, solar, biomass, wave/tidal and geothermal energy employ 17,000 people in an estimated 2,008 com-panies that received $635 million in venture capital investments in the 2006 to 2008 period. Washington State has the single largest electricity transmission program in the US covering all or part of 14 states. Nearly three fourths of the state’s electrical power is drawn from hydroelectric energy. Seattle City Light, a city owned utility company, has been carbon-neutral for several years.


FINANCIAL ANALYSIS

FINANCIAL OVERVIEW | DSHS BUILDING28

PROFORMADEPARTMENT OF SOCIAL HEALTH SERVICES BUILDING - FEDERAL WAY, WASHINGTON

SUITE TENANT SF RENT MONTHLY / SF MONTHLY RENT RENT ANNUAL/SF ANNUAL RENT EXPIRES

1 Department of Social Health Services 22,590 $1.67 $37,650 $20.00 $451,800 see lease notes

TOTAL 22,590 $1.67 $37,650 $20.00 $451,800

Total Base Rental Revenue $451,800

Total Reimbursed Expenses $0

TOTAL REVENUE $451,800.00

Repair and Maint $1,335.75 $0.71 $16,029.00

Utilities $0.00 $0.00 $0.00 W/S/T/E/G all is paid directly by tenant

Property Taxes $4,494.37 $2.39 $53,932.40

Insurance $489.33 $0.26 $5,872.00

Management/Admin. $1,317.75 $0.70 $15,813.00 Proforma 3.5% of Gross Scheduled Inc

Landscaping $0.00 $0.00 $0.00

Janitorial $0.00 $0.00 $0.00 Tenant contract for this service directly

Structual Reserves $282.38 $0.15 $3,389

TOTAL EXPENSE $7,919.58 $4.06 ($95,034.90)

NET OPERATING INCOME $356,765

POTENTIAL LOAN ANALYSIS

Loan to Value 60% Annual Debt Service $231,927.90 Mortgage $3,567,651.00 Cash Flow $124,837

Cash Down Payment $2,378,434 Cash on Cash 5.25%Amoritization 25 Principal Reduction (Yr 1) $81,879 Interest Rate 4.25% Return on Equity 8.69%

Monthly Payment $19,327

PRICE $5,946,085

PRICE PER SF $263.22

CAP RATE 6.00%

**The preceding was compiled from data furnished by the property owner and/or other sources we deem reliable; accuracy is not guaranteed. It may contain projections or allowances that are not actual current income or expenses. Prospective purchaser (or Lessee) should verify all such information on their own behalf, or have information verified by their own attorney, accountant or business advisor.

LEASE NOTES

TERM $/MONTH

3/1/16 to 12/31/20 $37,650.00

1/1/21 to 1/31/21 $1.00

For more information, please contact:

BRET JORDAN425 453 3131

[email protected]

PAT MUTZEL425 453 3142

[email protected]

COLLIERS INTERNATIONAL11225 SE 6th Street, Suite 240

Bellevue, WA 98004www.colliers.com

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DSHS BUILDING

DSHS Building

SINGLE TENANT INVESTMENT OFFERING 616 SOUTH 348TH …SINGLE TENANT INVESTMENT OFFERING 616 SOUTH...

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