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Heavy Manufacturing District FOR SALE: $16,350,000 60 ACRE EXISTING OPERATING MILL OR REDEVELOPMENT OPPORTUNITY 3812 28TH PLACE NE, EVERETT, WA 98201 DAVID BUTLER JON BOCKMAN HUGH WINSKILL P // 206.445.7665 P // 206.456.2560 P // 206.330.1794 [email protected] [email protected] [email protected] 28TH PLACE NE TABLE OF CONTENTS TABLE OF CONTENTS 1 // EXECUTIVE SUMMARY PAGE// 3 2 // SITE OVERVIEW PAGE// 4 3 // MARKET OVERVIEW PAGE// 10 4 // DEMOGRAPHICS PAGE// 11 3812 28TH PLACE NE // 2 EXECUTIVE SUMMARY THE OFFERING ORION Commercial Partners is excited to offer for sale 60.47 acres of a prime redevelopment site located at 3812 28th Place NE in Everett, WA. The property is currently home to Buse Timber & Sales, Inc. The site is situated on the west side of Interstate-5 on Smith Island. Incredible visibility from I-5 and ease of access to the site from the south and from the north. The City of Everett is pro-development and has a robust workforce. The Everett Industrial market has a lack of developable industrial land that makes this offering a great opportunity. Offering Price $16,350,000 Total Acres Land Area 60.47 Total Square Foot Land Area 2,634,073 SF Price Per Square Foot Land $6.20 Zoning M2 3812 28TH PLACE NE // 3 SUBJECT SITE SITE OVERVIEW 28TH PLACE NE SITE HIGHLIGHTS M-2 ZONING The M-2 district allows a wide range of industrial uses including distribution and heavy manufacturing. Typical uses in this district include the processing of natural and man-made materials for use in general manufacturing. STRATEGIC LOCATION 3812 28th Place NE is strategically located directly between two highways, WA-523 and I-5, which have combined vehicles per day count of over 160,000. The Subject is also on 30 minutes outside downtown Seattle, 12 minutes from Everett Station Commuter Rail (Sounder South Line) and less than 10 minutes from downtown Everett. STRONG DEMOGRAPHICS Located 25 miles north of Seattle, Everett has over 48,000 people living within a 3-mile radius of the subject site and over 136,000 people within a 5-mile radius. The 2019 average household income, over a 3-mile radius, is over $79,585. 3812 28TH PLACE NE // 4 EXISTING OPERATING MILL HIGHLIGHTS • Main mill was built in 1964 and has been updated over the years. • 2019 production was 37,212,668’bm (board measure) based on 1 shift. Running two shifts mill averages of 85,000,000’bm. Approx 90% was Doug-Fir and 10% Hem-Fir. • Main products is large timbers up to 24”x24” with a max length of 24’, average log size has been approx. 20” on the small end of the log. SITE • Interested buyers please inquire for more in-depth information and financials OVERVIEW 3812 28TH PLACE NE // 5 SITE OVERVIEW AERIAL PHOTOS EVERETT 3812 28TH PLACE NE // 6 SITE OVERVIEW SITE PHOTOS HISTORIC 1967 SITE PHOTO 3812 28TH PLACE NE // 7 SITE OVERVIEW PROPERTY AERIAL MARYSVILLE POSSESSION SOUND UNION SLOUGH 32,326 VPD 120,385 VPD SUBJECT SITE 3812 28TH PLACE NE // 8 SITE OVERVIEW ZONING M2 - HEAVY MANUFACTURING DISTRICT The M-2 district is intended to provide areas for heavy manufacturing uses involving activities that do not complement the character of commercial or residential areas. Typical uses in this district include processing of natural and man made materials for use in general manufacturing. Some uses that are permitted in the Heavy Manufacturing District (M-2) zone are: • Agricultural Activities • Mini-warehouses • Contractor Business • Prepared material, manufacturing, processing, or package plants. • Enclosed salvage and wrecking operations • Professional & business offices. • Food manufacturing, processing, or packing plants, excluding slaughtering • Recycling centers facilities • Sales and rental of heavy machinery and equipment • Lumber & wood products manufacturing or assembly • Storage/warehouse and distribution facilities • Major utility facilities • Commercial use, accessory to an industrial use on the same lot and/or in • Manufacturing, processing or assembly of metals, heavy equipment, the same complex airplanes, or vehicles. M-2 ZONE STANDARDS 1 acre (15) Min. Lot Area *No min lot area requirement in commercial and industrial zones for above ground utility and communication facilities. None (21) Front *20 feet when abutting arterial streets. 10’ (24) Rear *25 feet when abutting lots located in residential zones None (21) Side, Street *20 feet when abutting arterial streets. None (24) Side, Interior *25 feet when abutting lots located in residential zones Lot Width, Min. 100’ SUBJECT Lot Depth, Min. 100’ SITE Max Building Height 80’ Landscape Category C 3812 28TH PLACE NE // 9 ABOUT EVERETT MARKET OVERVIEW Located just 25 miles north of Seattle, Everett, WA is the largest city in Snohomish County. This coastal city sits on the shores of Port Gardner Bay, gazing at the giants resting on the Olympic Mountain range and the stormy blue Salish Sea. The Everett waterfront is home to the second- largest marina on the West Coast. With over 110,000 residents, Everett is one of the main cities in the metropolitan area and Puget Sound region. With Everett being connected to Seattle by Interstate-5, various public transit services, & the recent opening of Paine Field airport, Everett is easy to access by car, train, bus, and air. Everett has much in the way of family entertainment, including over 30 city parks as well as golf, tennis, swimming, hiking, and beachcombing. Downtown is bustling with unique shops, many located in colorful historical buildings, and the nearby Everett Mall offers 150 stores, a food court and exhibitor shows all year-round. North Everett’s quaint historic downtown is home to a vibrant arts, culture, and music scene, delicious dining, pubs, breweries, and Angel of the Winds Arena. Recreation opportunities abound, including skiing, hiking, biking, and kiteboarding, with the Cascade Mountains to the east and the bay to the west. Along with the abundance of recreational activities, Everett benefits from world-class education partners, serving students from pre-K to college. Everett School District students outperform the state on assessments in every subject and every grade. Everett Community College and Washington State University at Everett offer outstanding higher education with a wide, growing range of programs that are relevant to our region, such as avionics, technology, healthcare, engineering, and agriculture. Everett also remains a major employment center for Snohomish County. Some major employers based in Everett include Boeing, Everett Naval Station, Washington State Government, Providence Regional Medical Center, Snohomish County Government, Everett School District, and the Walmart. Everett has seen the job market increase by 2.6% over the last year and future job growth over the next ten years is predicted to be 38.2%, which is higher than the US average of 33.5%. 3812 28TH PLACE NE // 10 DEMOGRAPHICS 3, 5 & 10 MILE RADIUS RADIUS 3 MILE 5 MILE 10 MILE RADIUS 3 MILE 5 MILE 10 MILE POPULATION: HOUSEHOLDS: 2024 Projection 53,011 136,835 383,465 2024 Projection 19,915 51,686 143,679 2019 Estimate 48,984 125,952 354,055 2019 Estimate 18,417 47,512 132,723 2010 Census 43,552 108,898 313,098 2010 Census 16,387 40,489 117,215 Growth 2019-2024 8.22% 8.64% 8.31% Growth 2019 - 2024 8.13% 8.79% 8.25% Growth 2010-2019 12.47% 15.66% 13.08% Growth 2010 - 2019 12.39% 17.35% 13.23% 2019 Population Hispanic Origin 5,864 13,576 41,356 Owner Occupied 9,810 27,768 82,427 2019 POPULATION BY RACE: Renter Occupied 8,607 19,744 50,297 White 38,848 102,616 286,384 2019 AVG HOUSEHOLD INCOME $79,585 $81,591 $89,304 Black 1,947 4,298 12,412 2019 MED HOUSEHOLD INCOME $64,198 $68,852 $73,508 Am. Indian & Alaskan 1,607 3,892 8,196 2019 HOUSEHOLDS BY HOUSEHOLD INC: Asian 3,299 7,339 26,603 Less than $25,000 3,671 8,014 18,412 Hawaiian & Pacific Island 606 1,217 2,727 $25,000 - $50,000 3,549 9,194 25,367 Other 2,677 6,589 17,733 $50,000 - $75,000 3,219 8,596 24,007 U.S. Armed Forces: 1,579 1,860 2,913 $75,000 - $100,000 2,921 7,760 21,212 $100,000 - $125,000 2,104 6,059 16,755 $125,000 - $150,000 1,089 3,199 9,531 $150,000 - $200,000 1,022 2,773 9,804 $200,000+ 843 1,918 7,635 3812 28TH PLACE NE // 11 DEMOGRAPHICS 3, 5 & 10 MILE RADIUS RINGS 10 MILES 5 MILES 3 MILES 3812 28TH PLACE NE // 12 We maximizes real estate value through comprehensive project acquisition/ disposition, property/asset management, and leasing services. We are a progressive real estate services and investment team constantly seeking a perfect alignment of interests between us as the service provider and our clients. We deliver a UNIFIED TEAM APPROACH to fulfill our client’s objectives. Creativity, accountability and focused attention are the hallmarks of our business. The information supplied herein is from sources we deem reliable. It is provided without any representation, warranty or guarantee, expressed or implied, as to its accuracy. Prospective buyer or tenant should conduct an independent investigation and verification of all matters deemed to be material, including, but not limited to, statements of income and expenses. DAVID BUTLER JON BOCKMAN HUGH WINSKILL P // 206.445.7665 P // 206.456.2560 P // 206.330.1794 [email protected] [email protected] [email protected].
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