INVESTMENT HIGHLIGHTS
BELOW MARKET RENT
The tenants are currently paying $16.50 – $17.00/SF + NNN with market rents achievable in the $20 – $24/SF + NNN range.
100% LEASED / RECENTLY EXTENDED LEASES
The Property is fully leased to two tenants. Another Castle Video Games recently extended their lease for an additional 2-years, showing commitment to the site.
ANNUAL RENT INCREASES
Both leases feature annual rent increases, providing the Landlord with a hedge against inflation.
MINIMAL LANDLORD RESPONSIBILITIES
Both tenants operate on a NNN lease structure with very limited landlord management or repair responsibilities. Additionally, both leases allow for a management fee to be fully reimbursed by the tenants.
STRONG RETAIL TRADE AREA
The Property benefits from its proximity to the Seattle Premium Outlets, Tulalip Resort, and tenants such as, Walmart, The Home Depot, Chick-fil-A, Haggen, Fred Meyer, Safeway, Coastal Farm & Ranch, and Grocery Outlet. Marysville boasts in excess of 5.5 million visitors annually.
AFFLUENT, HIGH-GROWTH SUBMARKET
The Property is located in the rapidly growing Marysville, WA submarket, and is part of the Seattle MSA. Since 2010, within a 5-mile radius of the Property the population has grown by 17% with household incomes now exceeding $100,000/year.
SURROUNDED BY NEW DEVELOPMENT
The Property is surrounded by new construction projects including a 426 acres business park that is expected to bring about 4,000 jobs, over 312 new homes and a 12,000 square foot building that will be a 16-bed enhanced services facility directly to the east of the Property.
INCOME TAX FREE STATE
Washington State is an income tax free state.
Listing Agents:
CLAYTON J. BROWN
