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WALL STREET BUILDINGS 1316 WALL STREET 3006 RUCKER AVE Everett, Washington AND
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WALLSTREETB U I L D I N G S
1316 WALL STREET
3006 RUCKER AVEEverett, Washington
A N D
WALLSTREETB U I L D I N G S
TABLE OF CONTENTS
1
2
3
4
EXECUTIVE SUMMARY Page 3
PROPERTY DESCRIPTION Page 5
THE OPPORTUNITY Page 14
AREA OVERVIEW Page 16
WALLSTREETB U I L D I N G S
EXECUTIVE SUMMARY1
THE OFFERING
Newmark Knight Frank (NKF) is pleased to present the opportunity to acquire The Wall Street Buildings (The Property), in Downtown Everett, Washington. The property features two office buildings and a surface parking lot, located only blocks from the new Waterfront Place Development, and Port Gardner Marina.
Two buildings and parking lot (5 parcels total)Offered at $2,750,000
INVESTMENT HIGHLIGHTS
78%multi-tenant
leasedasset
20-30%below market
rents with upside
1 block to newly
completedPortola Place
& Farmers Market
Long termdevelopmentpotential with
proposedup-zone
WALLSTREETB U I L D I N G S
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WALLSTREETB U I L D I N G S
PROPERTY DESCRIPTION2
PROPERTY DESCRIPTION
The Wall Street Buildings consist of two non- contiguous sites separated by a city -owned alley. Building improvements cover virtually all of the easterly site, and the westerly site is improved with asphalt-surfaced parking and driveway area. There are 42 on-site parking spaces, for a ratio of 1.9 per 1,000 SF of gross floor area. All utilities are available.
Building improvements consist of two adjoining office buildings of masonry construction and flat built-up roofs. The 1316 Wall building is a two-story office structure with a finished basement. The 3006 Rucker Ave. building is a single-story office with an unfinished basement.
ADDRESS 1316 WALLSTREET
3006 RUCKERAVENUE
PARKINGLOT TOTAL
Gross Building Area SF
Typical Floor Plate Size
Occupancy
Number of Stories
Site Area SF
Year Completed
Parking
Zoning
FAR
16,491
5,853
78% Occupied
2+ Basement
1927
B-3
4,976
2,488
100% occupied
1+ Basement
1915
B-3
13,985
42 Surface Stalls
B-3
22,575
22,9758,990
Shared parking at 1.9/1000 SF
Base of 3.0 with a max of 4.0. Maximum building height of 80 ft (8 stories)
4 2 o n - s i t e p a r k i n g s p a c e s1 . 9 p e r 1 0 0 0 s f r a t i o
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WALLSTREETB U I L D I N G S
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FLOOR PLAN
3006 RUCKER AVENUE BUILDING | BASEMENT - 2,625 SF
match point to 1st flr
10.21'
5' L
INE
under stair storageUP
RAMPUP
UP
NORTH0 8' 16' 32'
1/16"=1'-0"
SHEET09.22.2017
SEA17-6148-00
BASEMENT PLAN3006 RUCKER AVENUE BUILDING
SCHEME:
3006 RUCKER AVE EVERETT WA 98201 MP-0
WTRV
WTRV
DN
RAMPUP
RAMPDN
DN
NORTH0 8' 16' 32'
1/16"=1'-0"
SHEET09.22.2017
SEA17-6148-00
FLOOR ONE PLAN3006 RUCKER AVENUE BUILDING
SCHEME:
3006 RUCKER AVENUE EVERETT WA 98201 MP-1
3006 RUCKER AVENUE BUILDING | FLOOR ONE - 2,624 SF
Floor OneStructural Design Associates
2,624 RSF
Basement Port Gardner Winery
2,625 RSF
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FLOOR PLAN
1316 WALL STREET BUILDING | BASEMENT - 5,527 SF
6.73'
match point to 1st flr
5' L
INE
UP
UP
UP
5' L
INE
ELEV.MECH.
HVAC
HVAC
SHEET09.22.2017
SEA17-6148-00
BASEMENT PLAN1316 WALL STREET BUILDING
SCHEME:
1316 WALL ST EVERETT WA 98201 MP-0
NORTH0 8' 16' 32'
1/16"=1'-0"
Suite B1Sterling Reference Laboratories
1,917 RSF
Suite B2AE Plans
1,179 RSF
Suite 1GVACANT
2,144 RSF
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FLOOR PLAN
1316 WALL STREET BUILDING | FLOOR ONE - 5,402 SF
DN
DN PLANTER
PLANTER
DN
DN
UPDN
UPDN
UP
NORTH0 8' 16' 32'
1/16"=1'-0"
SHEET09.22.2017
SEA17-6148-00
FLOOR ONE PLAN1316 WALL STREET BUILDING
SCHEME:
1316 WALL ST EVERETT WA 98201 MP-1
Suite 1ANW Ambulance
2,108 RSF
Suite 1BAlpha Courier
1,141 RSF
Suite 1CVACANT
1,481 RSF
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FLOOR PLAN
1316 WALL STREET BUILDING | FLOOR TWO - 5,562 SF
DN DNDN
DN
LADDER,ROOF ACCESS
NORTH0 8' 16' 32'
1/16"=1'-0"
SHEET09.22.2017
SEA17-6148-00
FLOOR TWO PLAN1316 WALL STREET BUILDING
SCHEME:
1316 WALL ST EVERETT WA 98201 MP-2
Suite 2BNW Ambulance
1,573 RSF
Suite 2CAffordable Substance Health
1,399 RSF
Suite 2DViridian Investment Management
1,482 RSF
Suite 2ATelexy Health Care
799 RSF
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LANDSCAPING LANDSCAPING
BUILDING A
BUILDING B
RAMP UP
RAMP DOWN
PAV
ED
AL
LE
Y
LANDSCAPINGLA
ND
SC
AP
ING
EXISTING PAVED PARKING LOT
WALL STREET WALL STREET
RU
CK
ER
AV
EN
UE
GR
AN
D A
VE
NU
E
LANDSCAPING
SITE PLAN
parking lotThere are 42 on-site parking spaces, for a ratio of 1.9 per 1,000 SF of gross floor area.
building a
building B
The 1316 Wall building is a two-story office structure with a finished basement.
The 3006 Rucker Ave. building is a single-story office with an unfinished basement.
The Wall Street Buildings consist of two non-contiguous sites separated by a city-owned alley.
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STACKING PLANS
1316 Wall Street Building2nd Viridian Investment
Management 2D 1,482 rsf Telexy Health Care
2A - 799 rsf NW
Ambulance2B -1,573 rsf
AffordableSubstance Health
Service 2C - 1,399 rsf
5,241 SF
1st NW Ambulance1A - 2,108 rsf
Alpha Courier 1C 1,141 rsf 1,481 rsf Vacant 4,731 SF
BSMT Sterling ReferenceLaboratories B1 - 1918 rsf
AE Plans 1G 1,179 rsf 2,144 rsf vacant 5,253 SF
3006 Rucker Building1st Structural Design Associates 2,624 SF
BSMT Port Gardner Bay Winery 2,625 SF
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THE OPPORTUNITYT h e W a l l S t r e e t B u i l d i n g s o f f e r d u a l o p p o r t u n i t i e s :
For investors seeking to make capital improvements and capture
rent upside.
VALUE ADD OPPORTUNITY
With B-3 zoning*, allowing for office, retail, multi-family and mixed use, plus potential for
increased height zoning**
DEVELOPMENT OPPORTUNITY
*B-3 Zoning – Central Business District, City of Everett. This zoning provides for a wide variety of commercial uses including retail, office, restaurants, hotels, and multi-family.
** The City of Everett has proposed the Metro Everett Plan that will allow for zoning height for the CBD Urban Core. The Wall Street Buildings falls within the boundaries of the up-zone proposal.
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AREA OVERVIEW
A Thriving economy driven by technology, aerospace and service-based industries.
The City of Everett has a current population of over 109,000 with 66% of the population in the labor force. Everett’s thriving economy is driven predominately by technology, aerospace and service-based industries. The City’s surge in jobs, increased quality of life, and considerably more affordable housing earned it the rank of #1 City in Snohomish County for population growth in 2016, and was listed as a Top 10 City for fastest growth in Washington State. Downtown Everett recently became the Headquarters for the booming pop-culture toymaker Funko and home to WSU Everett.
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WATERFRONT PLACEDEVELOPMENT
The Port of Everett’s Waterfront Place Central development project is a 65 acre planned development that will consist of 5 districts and intends to unify the marina by providing access to the waterfront from the CBD. The project will consist of approximately 450,000 square feet of commercial office space, 85,000 square feet of retail space, 7 restaurants, 2 recreational parks and up to 660 residential homes. The first construction phase broke ground in 2016 with Fisherman’s Harbor, and full completion of the development project slated for between 2020 and 2024. When fully completed, the Waterfront Place Development is expected to support 2,075 family-wage jobs.
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METRO EVERETT PLANThe City of Everett has started the planning process on Metro Everett; a one square mile section of the downtown core that intends to prepare the area for future public and private development and growth. Everett’s population is expected to grow at an unprecedented rate in the next twenty years based on existing city limits, with the majority of the growth projected to occur in the Downtown Metro core. This plan will address population, housing and employment targets, policies and potential land-use regulations for the area, including increase building height limits.
THE WALL STREET BUILDINGS fall within the Metro Everett Plan
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WALLSTREETB U I L D I N G S
MIKE SCHRECK Executive Managing Director
VALERIA WAYNEBrokerage Services Specialist
The information contained herein has been obtained from sources deemed reliable but has not been verified and no guarantee, warranty or representation, either express or implied, is made with respect to such information. Terms of sale or lease and availability are subject to change or withdrawal without notice. 17-1234 • 09/17
For more information, including financials and due diligence material, please call or email us.
