AUBURN RETAIL CENTER 1510 Industry Drive SW, Auburn, WA 98001

CONTACT INFORMATION: NICHOLAS GILL COLLIN HAGSTROM PRINCIPAL | BROKER PRINCIPAL | BROKER 206.505.9410 206.505.9436 [email protected] [email protected] OFFERING SUMMARY

Site Location

Auburn is centrally located between Seattle and Tacoma in the heart of the Site Address: 1510 Industry Dr SW Green River Valley with easy access to the best of both cities. Auburn is a quick 30 minute drive to all Seattle has to offer and more, and a 20 minute drive to Tacoma. Auburn, WA 98001 Auburn is the center of the largest industrial complex in the northwest and sits Parcel Number: 030150-0220 in the middle of the major north-south, east-west routes of this region. With two railroads and close proximity to the Ports of Seattle and Tacoma, Auburn has Price: $7,600,000 been identified by the Department of Commerce as one of only 14 Innovation Partnership Zones in Washington. With continued job expansion and above Price / NRSF: $514.38 average retail growth, Auburn enjoys a vibrant and sustainable business environment. Cap Rate: 6.25% Auburn has reason to be proud of its schools. They pride themselves in providing Year Built: 2007 an excellent education that produces students who have a love of learning and a sense of responsibility. Auburn boasts over two dozen elementary, middle school and high schools, each one unique, but all offering a supportive learning Lot Size: 72,424 SF | 1.66 Acres environment designated to foster each student’s natural abilities. Green River College provides the serious student a quiet, natural environment in which to Total Building Size, Net: 14,775 SF study. This is a community that puts learning and education first.

FOR MORE INFORMATION: NICHOLAS GILL COLLIN HAGSTROM 206.505.9410 206.505.9426 [email protected] [email protected] WESTLAKE ASSOCIATES, INC FINANCIAL OFFERING

PROPERTY OVERVIEW INCOME CURRENT

Sale Price $7,600,000 Scheduled Rental Income $474,794 + NNN Reimbursements 130,731 Price per NRSF $514.38 Scheduled Gross Income $605,525 NRSF 14,775 SF - Vacancy & Cr Losses 0.00% ($0)

Lot Size 72,424 SF Gross Income $605,525

Current CAP 6.25% EXPENSES CURRENT

+ Real Estate Taxes $83,010

+ Property Insurance 4,275

+ Landscaping 4,939 FINANCING + Cleaning 116 Loan Amount $4,636,000 + Fire Alarm 6,785 Rate 4.87% + Sweeping 6,933 + HVAC 5,538 Amortization 30 + Locks & Keys 201 Term 5 years + Roof Cleaning & Repair 3,266 Annual Payment $294,240 + Electrical Repair 495 66 Monthly Payment $24,520 + Repairs + Management Fees 15,106 ***Proposed Financing by $130,731 Fidelity Bancorp Funding Total Operating Expenses NET OPERATING INCOME $474,794 Less Annual Debt Service 1.20 $179,076

Return Before Taxes 8.40% $249,093

The statements, figures & computations herein, while not guaranteed, are secured from sources we believe reliable. Investors should verify all numbers, computations, and assumptions before committing to an investment.

FOR MORE INFORMATION: NICHOLAS GILL COLLIN HAGSTROM 206.505.9410 206.505.9426 [email protected] [email protected] WESTLAKE ASSOCIATES, INC TENANT MIX

TENANT SUITE SIZE RENT RENT / SF LEASE TERM

Painting with a Twist 100 & 101 2,660 SF $ 5,763 $ 2.17 3/23/2021

H&R Block 102 1,313 SF $ 3,064 $ 2.33 12/20/2023

Asiana Teriyaki 103 1,281 SF $ 3,456 $ 2.70 12/4/2022

Jersey Mike’s Subs 104 1,337 SF $ 3,120 $ 2.33 1/31/2023

T-Mobile 105 2,473 SF $ 9,460 $ 3.83 1/31/2023

Mattress Firm 200 5,711 SF $ 14,924 $ 2.61 10/29/2028

Totals | Averages 7 14,775 SF $ 39,787 $ 2.28 -

FOR MORE INFORMATION: NICHOLAS GILL COLLIN HAGSTROM 206.505.9410 206.505.9426 [email protected] [email protected] WESTLAKE ASSOCIATES, INC RENT ROLL PROJECTIONS

10 Year Projection 2018-2028

TENANT 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028

Painting with a Twist $65,504 $68,499 $70,554 $72,671 $74,851 $77,096 $79,409 $81,792 $84,245 $86,773 $89,376

H&R Block $36,768 $36,764 $36,764 $36,764 $36,764 $36,764 $42,279 $42,279 $42,279 $42,279 $42,279

Asiana Teriyaki $41,472 $42,721 $44,003 $45,323 $46,683 $48,083 $49,526 $51,012 $52,542 $54,118 $55,742

Jersey Mike’s Subs $37,440 $41,180 $41,180 $41,180 $41,180 $41,180 $47,357 $47,357 $47,357 $47,357 $47,357

T-Mobile $113,520 $113,520 $113,520 $113,520 $113,520 $124,872 $124,872 $124,872 $124,872 $124,872 $124,872

Mattress Firm $179,100 $179,100 $179,100 $179,100 $179,100 $179,100 $197,030 $197,030 $197,030 $197,030 $197,030

Annual Totals $474,804 $481,784 $485,121 $488,557 $492,097 $525,025 $540,472 $544,340 $548,324 $522,427 $556,654

FMV denotes Fair Market Value Thick outside borders denote the end of current term Asiana Teriyaki doesn’t have an options period past 2023

Blue font denotes Fair Market Value of Future Rent projections based on current market knowledge

Increase Schedule

Painting with a Twist 3% Annual Increases. (2) - 3 year options at FMV

H&R Block $28 per square foot flat for five years and then FMV

Asiana Teriyaki 3% Annual Increases from 2018-2023. No options to extend past 2023. Assuming 3% increases

Jersey Mike’s Subs $30.80 From 2019-2023. Fair Market Value from there onwards

T-Mobile 10% Flat 1st option period 2018-2023. 10% increase during 2nd option period

Mattress Firm 10% Flat for five years. 10% increase in 2023 and then flat til 2028.

FOR MORE INFORMATION: NICHOLAS GILL COLLIN HAGSTROM 206.505.9410 206.505.9426 [email protected] [email protected] WESTLAKE ASSOCIATES, INC LOCATION

167 18

C St SW 18

167

C St SW

15th St SW 15th St SW 15th St SW SITE

FOR MORE INFORMATION: NICHOLAS GILL COLLIN HAGSTROM 206.505.9410 206.505.9426 [email protected] [email protected] WESTLAKE ASSOCIATES, INC SITE PLAN

FOR MORE INFORMATION: NICHOLAS GILL COLLIN HAGSTROM 206.505.9410 206.505.9426 [email protected] [email protected] WESTLAKE ASSOCIATES, INC PHOTOS

FOR MORE INFORMATION: NICHOLAS GILL COLLIN HAGSTROM 206.505.9410 206.505.9426 [email protected] [email protected] WESTLAKE ASSOCIATES, INC TENANT HIGHLIGHTS

T-Mobile US provides wireless voice, messaging, and data services H & R Block is a publicly traded American tax preparation company. in the United States, Puerto Rico, and the US Virgin Islands under the With locations in Austraila and India, in addition to North America, H T-Mobile, Metro PCS, and GoSmart Mobile brands. The company & R Block has over 12,000 retail locations. The business generates operates the third largest wireless network in the US market with over 43billion in revenues and over 87,500 employees (including over 65.5 million customers and annual revenues of $32 billion. Its tax seasonal hires). H & R Block, originally founded by two brothers nationwide network reaches 98 percent of Americans. in Kansas City, can now advise digitally. Transforming for the digital age further simplifies what can otherwise be a very frustrating few As of 2018, J. D. Power and Associates, a global marketing-informa- weeks for the average Amercian. tion-services firm, ranked the company highest among major wireless carriers for retail-store satisfaction consecutively for four years and highest for wireless customer care for two years running.

At age 14, Peter Canro of Point Pleasant Beach, New Jersey, took a Sleep Country USA was a Pacific Northwest bedding retailer found- part-time job at Mike’s Submarines, a neighborhood sandwich shop. ed in 1991. It had more than 80 mattress stores in Oregon, Washing- Today, Cancro is the owner and CEO of the company now known as ton, and Idaho. The company headquarters were in Kent, Washing- Jersey Mike’s. Cancro began franchising the restaurant in 1987. By ton and operated as a specialty sleep store chain. It started with 8 2014 it had 750 locations, with an additional 650 in some stages of stores and approximately 25 employees in Washington. development. In 2015, 197 new locations opened and the total number of Jersey Mike’s locations exceeded 1,000. Jersey Mike’s In March 2000, New York-based Fenway Partners Inc. acquired locations are gaining a larger presence on the west coast, particular- Sleep Country from Sunny Kobe Cook and Robert Cook. In 2003, ly in Southern California. Fenway Partners sold Sleep Country USA to the Atlanta-based Simmons Company. In August 2006, The Sleep Train, Inc. purchased the then-55-store Sleep Country USA Pacific Northwest chain from Simmons for $55 million. The chain continued to operate as Sleep Company USA.

In July 2015, the company announced that it would begin rebranding FOR MORE INFORMATION: all of its stores with the Sleep Train name, now owned by Mattress COLLIN HAGSTROM NICHOLAS GILL Firm. 206.505.9410 206.505.9426 [email protected] [email protected] WESTLAKE ASSOCIATES, INC DEMOGRAPHICS

Drive Time Demographics

Population 5-Min 10-Min 15-Min

2010 4,051 52,492 214,244 2017 4,458 58,713 240,954 2022 4,749 62,917 258,752

2017 HH Incomes 5-Min 10-Min 15-Min

Average $60,208 $72,975 $80,226 Median $45,784 $83,160 $91,284

Radius Demographics

Population 1-Mile 3-Mile 5-Mile

2010 5,283 64,705 169,420 2017 5,706 71,951 190,709 2022 6,097 77,158 204,791

2017 HH Incomes 1-Mile 3-Mile 5-Mile

Average $57,329 $76,908 $82,261 Median $44,167 $59,856 $63,771

FOR MORE INFORMATION: NICHOLAS GILL COLLIN HAGSTROM 206.505.9410 206.505.9426 [email protected] [email protected] WESTLAKE ASSOCIATES, INC LOCATION

AUBURN

LOCATED BETWEEN THE GREEN AND STUCK RIVERS, Auburn is centrally located in the Green River Valley just 24 miles Southeast of Seattle and 14 miles Northeast of Tacoma. 24 MILES 14 MILES Auburn has the spirit of the pioneers. Founded in 1891, the community has grown to a comfortable population of over 40,000. The city’s growth is carefully planned and DOWNTOWN DOWNTOWN controlled, reflecting the importance residents place on retaining open spaces and parks. SEATTLE TACOMA Emerald Down is the center of the thoroughbred horse racing in the Pacific Northwest. Emerald Downs showcases a dazzling six-story grandstand overlooking a 167-acre facility, offering world class racing and entertainment for all ages. THE OUTLET COLLECTION | SEATTLE Auburn is also home to the Outlet Collections, taking place of the former Super Mall. Shoppers find over 130 stores in its one million square foot indoor shopping space, The Outlet Collection | Seattle is the largest outlet mall in the Pacific Northwest, featuring making it the largest outlet mall in the Pacific Northwest. a unique mix of top-brand outlets like Nike Factory Outlet, J. Crew Factory, Old Navy Outlet, as well as traditional stores like Sam’s Club, H&M and Bed Bath & Beyond. The Muckleshoot Casino also holds a big place within the community. Opened in April of Conveniently located in Auburn, WA at Highway 18 and State Route 167, The Outlet 1995, the casino offers a variety of entertainment and dining options. Collection | Seattle is an easy escape from the busy city.

Auburn is rapidly becoming a destination city, mostly due to the amenities it offers and If you get hungry during your visit, you can enjoy a blast from the past at Johnny Rocket’s, its location. Quality of life is key to both businesses and families located in Auburn. There or opt for something fresh at Villa Fresh Italian Kitchen, or choose from many other dining is an abundance of freshwater fishing and boating in surrounding rivers and lakes, while options. the beaches of the Puget Sound are only 15 minutes away. Bring the kids along to ride the carousel or the kiddie rides, play in the Doxon Playland and join our Kids Club to receive exclusive discounts and attend fun events! Auburn’s housing market is dominated by single-family homes that are reasonably priced within the King County market. There are also a number of condo and apartment options FULL LIST OF RETAIL HERE. within the community.

AUBURN SOUNDER STATION

FOR MORE INFORMATION: NICHOLAS GILL COLLIN HAGSTROM 206.505.9410 206.505.9426 [email protected] DOWN [email protected] WESTLAKE ASSOCIATES, INC WESTLAKE ASSOCIATES, INC.

Serving Washington State since 1975, Westlake Associates has earned its reputation as a leader in Commercial and Investment Real Estate Broker- age. We’ve built a strong foundation of experience in Investment Property Sales, Commercial Leasing, Property Management, and comprehensive real estate services over our 40 year history. At Westlake Associates, we operate as a team and leverage each other’s resources and experience to provide the highest level of client services.

CONTACT INFORMATION:

NICHOLAS GILL

PRINCIPAL | BROKER

206.505.9410 [email protected]