OFFERING MEMORANDUM

9 Block Development Opportunity

OLD TOWN VILLAGE 1 CONFIDENTIALITY AGREEMENT

The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party re- ceiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future pro- jected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information con- tained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2019 Marcus & Millichap.

All rights reserved.

NON-ENDORSEMENT NOTICE

Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONTACT THE LISTING AGENTS FOR MORE DETAILS. ACTIVITY ID:

OFFICES THROUGHOUT THE U.S. & CANADA www.marcusmillichap.com 2 OLD TOWN VILLAGE PRESENTED BY

TIMOTHY UFKES Senior Vice President Investments Tel: (206) 826-5693 Fax: (206) 826-5710 [email protected] License: WA 13506

BRIAN MAYER Vice President Investments SEATTLE Tel: (206) 826-5716 Fax: (206) 826-5710 [email protected] License: WA 108682

RICH DAY Senior Associate SEATTLE Tel: (206) 826-5814 Fax: (206) 826-5710 [email protected] License: WA 110473

For Additional Information www.ufkesgroup.com

OLD TOWN VILLAGE 3 INVESTMENT OVERVIEW

The Old Town Village provides for a rare opportunity to acquire approximately 300,000 square feet (7-acres) of prime development land situated along the waterfront in Downtown Bellingham. The property consists of 5 full city blocks,4 half blocks and a large tract running the length of Whatcom Creek within the Old Town Neigh- borhood of Bellingham. The full city blocks (blocks 2, 3, 5 and 6) range from 27,597 to 39,861 square feet, while the half blocks (blocks 1, 4, 7 and 8) range from 17,028 to 22,009 square feet, and the waterfront tract measures 91,932 square feet. The property can be purchased as a portfolio or as separate blocks.

Zoned Commercial and located within the Old Town Overlay District, the site provides for dense development with a variety of permitted uses including but not limited to multifamily, retail, office, mixed-use, and hospitality. There are no limits on density or lot coverage, and no requirement for open space or usable space. Height limits range from 40 – 75 feet with the exception of block 2, which allows for heights up to 130 feet. Additionally, structure height may not exceed 3-stories (40 feet) within 15 feet of a street right-of-way. The maximum Floor Area Ratio (FAR) for each block is 3.50, however, through FAR transfers and bonuses, this limit can be increased to 5.00.

A portion of the property resides on top of the Holly Street Landfill, which was successfully remediated by the City of Bellingham from August 2004 to March 2005 per a Consent Decree and Cleanup Action Plan (CAP) between the State Department of Ecology, the City of Bellingham and other private parties. Pur- suant to the CAP, a Restrictive Covenant was placed on portions of blocks 2, 3, 4, 5, 6 and 9, stipulating the property or any future development thereof, may not be used for ground floor residential or day care center uses, and a two-foot soil cap or equivalent structural cover (e.g., building or two-inch paving layer) must be maintained on the property.

The city of Bellingham is eager to see Old Town Village be developed and has agreed to design and construct public infrastructure improvements per a Development Agreement dated February 19, 2019. Such improvements include, but are not limited to (1) improvements to C Street, such as street surfacing, curbs and gutters, and traffic signals; (2) street improvements to 820 linear feet of Astor Street and D Street; (3) maintaining water and sewer lines capable of supporting maximum development of the property; (4) installation of stormwater drainage and collection system.

Bellingham is a rapidly growing city of nearly 100,000. Over the past decade it has grown nearly 15%. The city is expected to add nearly 25,000 residents over the next 15 years. To cope with the increasing population, nearly two dozen multifamily developments totaling over 2,000 units have been built in the past five years and several hundred more are expected to come online in the next 12 to 24 months.

4 OLD TOWN VILLAGE INVESTMENT HIGHLIGHTS

CITY INFRASTRUCTURE RARE WATERFRONT CONTRIBUTIONS REDEVELOPMENT OPPORTUNITY Per a 2019 development agreement, the City of Bellingham 300,000 square foot (7-acre) development site, made up of has agreed to provide certain public infrastructure improve- 5 full city blocks and 4 ½ blocks, situated in the Old Town ments, such as a stormwater system, maintaining water and neighborhood along Downtown Bellingham’s waterfront. sewer lines capacity, street surfacing, curbs, gutters, traffic signals, and other street improvements.

FLEXIBLE ALLOWABLE USES BLOCKS AVAILABLE AS PORTFOLIO The Old Town Overlay District of the Commercial Zone al- OR SEPARATELY lows for a wide variety of uses including, multi-family, retail, The property may be purchased as a portfolio or individual office, hospitality, medical and more. blocks may be purchased separately.

DENSITY AND STRUCTURE HEIGHT CONSENT DECREE & ACTION PLAN Height limits range from 40 – 75 feet with the exception A portion of the property resides in the Holly Street Landfill, of block 2, which allows for 130-foot structures. Maximum which was successfully remediated in March 2005 per a FAR for each block is 3.50 with ability to increase to 5.0 with Consent Decree and Cleanup Action Plan approved by the bonuses. DOE and City of Bellingham.

OLD TOWN VILLAGE 5 6 OLD TOWN VILLAGE OLD TOWN VILLAGE 7 HISTORIC GRANARY BUILDING Built in 1928, the Granary Building was the fo- ARCHITECTURAL INFLUENCES cal point of Whatcom County’s co-op movement. Conversion of this historic grain elevator began in 2015. The Granary is now a six-story over base- Originally built in 1892 as the city hall for the ment retail & office building, renovated and mod- for¬mer town of New Whatcom, the Victorian ernized after having been abandoned for years. style building served this purpose until 1936. The Building became part of the museum in 1941. Local architect George Bartholik completed res- toration in 1968 and with periodic maintenance, the Whatcom Museum continues to be the com- munity’s pride.

PARBERRY IRON & METAL CO. BUILDING The Parberry family have been an integral part of Bellingham’s history, dating back to 1923, when they opened Parberry Iron & Metal Co. Today the Parberry Iron & Metal Co. Building remains a prominent focal point of the Old Town Neighbor- hood, and is currently undergoing a historic reno- vation by members of the Parberry family.

8 OLD TOWN VILLAGE LOTTIE ROTH BUILDING Built in 1890, the Lottie Roth Build- ing was constructed from Chuckanut HISTORIC sandstone, and its architecture was influence by the Richardsonian Ro- ARCHITECTURAL INFLUENCES manesque style. This building is the last remaining of its style in the en- tire city of Bellingham. The building was originally built as an office and TRAIN DEPOT BUILDING retail building, but was later convert- ed to a hotel in 1895, then to apart- The passenger station was built in 1927 by local ments in 1918. architect F. Stanley Piper. Great Northern Railroad utilized the station until 1969 at which point Bur¬- lington Northern began operating from this site. In the early 1980s this station was still used for passenger service by Amtrak, which now utilizes the terminal in Fairhaven.

THE HELEN LOGGIE MUSEUM The two-story brick building was originally built in 1858 as the Territorial Courthouse. By 1877, a phar- macy was being run on the first floor. The build- ing was added to the National Register of Historic Places in 2003, and recently underwent a signifi- cant renovation. The Helen Loggie Museum is the oldest masonry building in Washington State.

OLD TOWN VILLAGE 9 CASE STUDIES MIXED-USE WATERFRONT DEVELOPMENTS

WATERFRONT PLACE CENTRAL - EVERETT, WASHINGTON

Waterfront Place Central Redevelopment consists of a 65-acre mixed-use development will include five districts, up to 660 housing units, a 142-room hotel, commercial and retail spaces, and will support more than 2,000 jobs and $8.6 million in tax revenue. The Port of Everett is investing $85 million in public infrastructure this year by building additional roadway access, new public spaces and a new marine infrastructure at Fish- erman’s Harbor, which will include a new dock for the public.

POINT RUSTON - TACOMA, WASHINGTON

Point Ruston, a $1.2 billion, 97-acre, mixed-use development with plans for approxi- mately 1,800 residential units and 500,000 of commercial space. To date, 670 resi- dences, including an assisted-living facility and 115,000 sf of commercial space, have been completed. This includes a new 30,000 sf public market, which is expected to eventually house over 35 different vendors. Roughly 800 more residences are under construction, as well as additional commercial space.

10 OLD TOWN VILLAGE OLD TOWN VILLAGE 11 PROPERTY SUMMARY

BLOCK AREA (SF) AREA (ACRES)

Block 1: 20,025 0.46

Block 2: 39,861 0.92

Block 3: 33,984 0.78

Block 4: 20,051 0.46 1 Block 5: 29,918 0.69

Block 6: 27,597 0.63

Block 7: 22,009 0.51

Block 8: 17,028 0.39

Block 9: 91,932 2.11

Total: 302,405 6.94

12 OLD TOWN VILLAGE BLOCK 1 SUMMARY Address: 1401-1413 E Street, Bellingham, WA 98225

Tax Parcels: 380330012381, 380330009377, 380330005373

Applicable Development Bellingham Municipal Code (BMC) 20.35.010 thru Regulations: 20.35.085

Lot Size (SF): 20,025

Lot Size (Acres): 0.46

Zoning: Commercial (Old Town Overlay District)

Urban Village: N/A 1

Maximum Floor Area Ratio (FAR): 3.50*

Maximum Buildable Area (SF): 70,087

Requirements vary depending on use - see BMC Parking: 20.35.075 for details

Retail, Office, Multifamily, Hospitality, Medical, Mixed Permitted Uses: Use, and more (See BMC 20.35.065 for additional details)

Minimum Lot Size: None

Maximum Density: None

Maximum Height: 75’

Maximum height within 15’ of any street right-of-way is Setbacks: three stories and 40’

*Maximum FAR can be increased to 5.00 with use of floor area transfers and bonuses

OLD TOWN VILLAGE 13 BLOCK 2 SUMMARY Address: 1407-1415 D Street, Bellingham, WA 98225 380330018364, 380330032363, 380330029359, Tax Parcels: 380330024354 Applicable Development Bellingham Municipal Code (BMC) 20.35.010 thru Regulations: 20.35.085

Lot Size (SF): 39,861

Lot Size (Acres): 0.92

Zoning: Commercial (Old Town Overlay District)

Urban Village: N/A 1

Maximum Floor Area Ratio (FAR): 3.50*

Maximum Buildable Area (SF): 139,513

Requirements vary depending on use - see BMC Parking: 20.35.075 for details

Retail, Office, Multifamily, Hospitality, Medical, Mixed Permitted Uses: Use, and more (See BMC 20.35.065 for additional details)

Minimum Lot Size: None

Maximum Density: None

Maximum Height: 130’**

Maximum height within 15’ of any street right-of-way is Setbacks: three stories and 40’

* Maximum FAR can be increased to 5.00 with use of floor area transfers and bonuses ** Height restricted to 40’ and 55’ within view corridor and outlined in BMC Figure 20.35.070(C)

14 OLD TOWN VILLAGE BLOCK 3 SUMMARY Address: 1419 C Street, Bellingham, WA 98225 380330040351, 380330046343, 380330034339, Tax Parcels: 380330037339, 380330040337 Applicable Development Bellingham Municipal Code (BMC) 20.35.010 thru Regulations: 20.35.085

Lot Size (SF): 33,984

Lot Size (Acres): 0.78

Zoning: Commercial (Old Town Overlay District) 1 Urban Village: N/A

Maximum Floor Area Ratio (FAR): 3.50*

Maximum Buildable Area (SF): 118,944

Requirements vary depending on use - see BMC Parking: 20.35.075 for details

Retail, Office, Multifamily, Hospitality, Medical, Mixed Permitted Uses: Use, and more (See BMC 20.35.065 for additional details)

Minimum Lot Size: None

Maximum Density: None

Maximum Height: 75’**

Maximum height within 15’ of any street right-of-way is Setbacks: three stories and 40’

* Maximum FAR can be increased to 5.00 with use of floor area transfers and bonuses ** Height restricted to 40’ and 55’ within view corridor and outlined in BMC Figure 20.35.070(C)

OLD TOWN VILLAGE 15 BLOCK 4 SUMMARY Address: 900-906 W Holly Street, Bellingham, WA 98225

Tax Parcels: 380225553359

Applicable Development Bellingham Municipal Code (BMC) 20.35.010 thru Regulations: 20.35.085

Lot Size (SF): 20,151

Lot Size (Acres): 0.46

Zoning: Commercial (Old Town Overlay District)

Urban Village: N/A 1

Maximum Floor Area Ratio (FAR): 3.50*

Maximum Buildable Area (SF): 70,178

Requirements vary depending on use - see BMC Parking: 20.35.075 for details

Retail, Office, Multifamily, Hospitality, Medical, Mixed Permitted Uses: Use, and more (See BMC 20.35.065 for additional details)

Minimum Lot Size: None

Maximum Density: None

Maximum Height: 75’

Maximum height within 15’ of any street right-of-way is Setbacks: three stories and 40’

* Maximum FAR can be increased to 5.00 with use of floor area transfers and bonuses

16 OLD TOWN VILLAGE BLOCK 5 SUMMARY Address: 1315 D Street and 800 W Holly Street, Bellingham, WA 98225

Tax Parcels: 380330011348, 380330006336

Applicable Development Bellingham Municipal Code (BMC) 20.35.010 thru Regulations: 20.35.085

Lot Size (SF): 29,918

Lot Size (Acres): 0.69

Zoning: Commercial (Old Town Overlay District)

Urban Village: N/A 1

Maximum Floor Area Ratio (FAR): 3.50*

Maximum Buildable Area (SF): 104,713

Requirements vary depending on use - see BMC Parking: 20.35.075 for details

Retail, Office, Multifamily, Hospitality, Medical, Mixed Permitted Uses: Use, and more (see BMC 20.35.065 for additional details)

Minimum Lot Size: None

Maximum Density: None

Maximum Height: 75’**

Maximum height within 15’ of any street right-of-way is Setbacks: three stories and 40’

* Maximum FAR can be increased to 5.00 with use of floor area transfers and bonuses ** Height restricted to 40’ within Courthouse view corridor and outlined in BMC Figure 20.35.070(B)

OLD TOWN VILLAGE 17 BLOCK 6 SUMMARY Address: 707 Astor Street, Bellingham, WA 98225 380330038320, 380330020326 (excluding the footprint Tax Parcels: of the Parberry Building located at 700 W Holly St) Applicable Development Bellingham Municipal Code (BMC) 20.35.010 thru Regulations: 20.35.085

Lot Size (SF): 27,597

Lot Size (Acres): 0.63

Zoning: Commercial (Old Town Overlay District)

Urban Village: N/A 1

Maximum Floor Area Ratio (FAR): 3.50*

Maximum Buildable Area (SF): 96,589

Requirements vary depending on use – see BMC Parking: 20.35.075 for details

Retail, Office, Multifamily, Hospitality, Medical, Mixed Permitted Uses: Use, and more (See BMC 20.35.065 for additional details)

Minimum Lot Size: None

Maximum Density: None

Maximum Height: 75’

Maximum height within 15’ of any street right-of-way is Setbacks: three stories and 40’

* Maximum FAR can be increased to 5.00 with use of floor area transfers and bonuses

18 OLD TOWN VILLAGE BLOCK 7 SUMMARY Address: 801 W Holly Street, Bellingham, WA 98225

Tax Parcels: 380225548333, 380225552329, 380225551326

Applicable Development Bellingham Municipal Code (BMC) 20.35.010 thru Regulations: 20.35.085

Lot Size (SF): 22,009

Lot Size (Acres): 0.51

Zoning: Commercial (Old Town Overlay District)

Urban Village: N/A 1

Maximum Floor Area Ratio (FAR): 3.50*

Maximum Buildable Area (SF): 77,031

Requirements vary depending on use – see BMC Parking: 20.35.075 for details

Retail, Office, Multifamily, Hospitality, Medical, Mixed Permitted Uses: Use, and more (See BMC 20.35.065 for additional details)

Minimum Lot Size: None

Maximum Density: None

Maximum Height: 75’**

Maximum height within 15’ of any street right-of-way is Setbacks: three stories and 40’

* Maximum FAR can be increased to 5.00 with use of floor area transfers and bonuses ** Height restricted to 40’ within Train Station view corridor and outlined in BMC Figure 20.35.070(B)

OLD TOWN VILLAGE 19 BLOCK 8 SUMMARY Address: 701 W Holly Street, Bellingham, WA 98225

Tax Parcels: 380330011308

Applicable Development Bellingham Municipal Code (BMC) 20.35.010 thru Regulations: 20.35.085

Lot Size (SF): 17,028

Lot Size (Acres): 0.39

Zoning: Commercial (Old Town Overlay District)

Urban Village: N/A 1

Maximum Floor Area Ratio (FAR): 3.50*

Maximum Buildable Area (SF): 59,598

Requirements vary depending on use – see BMC Parking: 20.35.075 for details

Retail, Office, Multifamily, Hospitality, Medical, Mixed Permitted Uses: Use, and more (See BMC 20.35.065 for additional details)

Minimum Lot Size: None

Maximum Density: None

Maximum Height: 75’**

Maximum height within 15’ of any street right-of-way is Setbacks: three stories and 40’

* Maximum FAR can be increased to 5.00 with use of floor area transfers and bonuses ** Height restricted to 40’ within Train Station view corridor and outlined in BMC Figure 20.35.070(B)

20 OLD TOWN VILLAGE BLOCK 9 SUMMARY Address: 600-612 W Holly Street and 1400 C Street, Bellingham, WA 98225

380330 058324, 380330 066329, 380330 044311, Tax Parcels: 380330 031307 Applicable Development Bellingham Municipal Code (BMC) 20.35.010 thru Regulations: 20.35.085

Lot Size (SF): 91,932

Lot Size (Acres): 2.11 Zoning: Commercial (Old Town Overlay District) 1 Urban Village: N/A

Maximum Floor Area Ratio (FAR): 3.50*

Maximum Buildable Area (SF): 321,762 Requirements vary depending on use – see BMC Parking: 20.35.075 for details Retail, Office, Multifamily, Hospitality, Medical, Mixed Permitted Uses: Use, and more (See BMC 20.35.065 for additional details)

Minimum Lot Size: None

Maximum Density: None

Maximum Height: 75’**

Maximum height within 15’ of any street right-of-way is Setbacks: three stories and 40’

* Maximum FAR can be increased to 5.00 with use of floor area transfers and bonuses ** Height restricted to 40’ and 55’ within 100’ and 200’ of Whatcom Creek respectively; in addition to 10’ height limit for full width of Astor Street extending through the block (see BMC Figure 20.35.070(C) for additional details)

OLD TOWN VILLAGE 21 BELLINGHAM

EVERETT

SEATTLE BELLEVUE

TACOMA

22 OLD TOWN VILLAGE Bellingham International Airport

MCDONALD’S

BELLIS FAIR SHOPPING MALL

Roosevelt Elementary School

Bellingham WALGREENS Technical College BERKLEY VILLAGE SHOPPING MALL

JIMMY JOHN’S

Civic Stadium

Sehome High School

OLD TOWN VILLAGE 23 PLANNED & RECENT DEVELOPMENTS 15 14

16 4 9 3 6 2

8 10

1 13 7

5 1112

24 OLD TOWN VILLAGE STATESIDE PARK PLACE APARTMENTS CITYSCAPE MAHOGANY MANOR 01 903 N State St, Bellingham, WA 02 3928 NW Ave, Bellingham, WA 03 4017 Pacific Highway, Bellingham, WA 04 1300 Mahogany Ave, Bellingham, WA

Beds: 513 Units: 177 Units: 106 Units: 134 Year Built: 2021 Year Built: 2021 Year Built: 2022 Year Built: 2020

HARVARD SUITES AFFINITY AT BELLINGHAM ASHLEY STREET APARTMENTS OLD TOWN FLATS 05 705-709 32nd St, Bellingham, WA 06 3930 Affinity Lane, Bellingham, WA 07 126 Ashley St, Bellingham, WA 08 1000 Astor St, Bellingham, WA

Units: 60 Units: 154 Units: 60 Units: 32 Year Built: 2018 Year Built: 2016 Year Built: 2019 Year Built: 2018

ECHO FLATS ELEANOR APARTMENTS FAIRHAVEN HARBOR PHASE II FAIRHAVEN LOFTS 09 194 E Bakerview Rd, Bellingham, WA 10 1510 N Forest St, Bellingham, WA 11 126 Ashley St, Bellingham, WA 12 1300 McKenzie Ave, Bellingham, WA

Units: 47 Units: 80 Units: 66 Units: 38 Year Built: 2017 Year Built: 2017 Year Built: 2019 Year Built: 2017

SAMISH STATION PARK VIEW VILLAGE THE MEADOWS AT JUNE ROAD SOPHIA PLACE APARTMENTS 13 109 S Samish Way, Bellingham, WA 14 425 Stuart Rd, Bellingham, WA 15 4334 Water Lily Loop, Bellingham, WA 16 256 Prince Ave, Bellingham, WA

Units: 52 Units: 83 Units: 171 Units: N/A Year Built: 2019 Year Built: 2018 Year Built: 2017 Year Built: 2020 OLD TOWN VILLAGE 25 WATERFRONT DISTRICT DEVELOPMENT

In June of 2006, Georgia Pacific sold the property to the in ex- change that they be responsible for the environmental cleanup of the property. The redevelopment is intended to create new mixed-use areas on the waterfront for com- mercial, industrial, educational, recreational and residential uses.

The 37-acre downtown extension is intended to restore public access and increase foot traffic, with the implementation of housing, office and insti- tutional uses

52-acre Log Pond area is to be utilized for transportation, construction or light industrial uses

Businesses in the Central Business District will provide family-wage jobs, including offices, research and development, business incubators, live- work studios, and water-related industries

The Bellingham Comprehensive Plan projects a demand for 1,225 infill housing units in the Central Waterfront District Urban Center, and an addi- tional 1,321 units in the Downtown Core Urban Center by the year 2025

26 OLD TOWN VILLAGE OLD TOWN VILLAGE 27 BELLINGHAM WASHINGTON METRO HIGHLIGHTS STRATEGIC LOCATION The Bellingham metro, which consists of Whatcom County, is bordered by Can- Whatcom County borders Canada and is situated between two large mar- kets: Vancouver, B.C., 60 miles north and Seattle 90 miles south. ada to the north, the Cascade mountains to the east, Skagit County to the south and the Strait of Georgia to the west. Convenient access by land, air, rail and sea SCENIC BEAUTY as well as to Canadian markets provides for a diverse economy. The region’s nat- Mount Baker in the Northern Cascades, the , and an abun- dance of water features support a large outdoor recreation and tourism sec- ural features contribute to the area’s scenic beauty, drawing visitors and offering tor. an abundance of recreational opportunities. Bellingham is the county seat and the most populous city in the county with roughly 88,500 residents. HIGHER-EDUCATION INSTITUTES University, Whatcom County Community College, Bell- BELLINGHAM ingham Technical College, NW Indian College and Trinity Western University contributed to a skilled labor pool.

ECONOMY • The diverse array of economic drivers include maritime activities, agriculture and food processing, health and wellness, recreation and tourism, advanced manufac- turing and technology.

• Whatcom County is the nation’s top producer of raspberries.

• The metro is accessible by Interstate 5, Bellinham International Airport, BNSF Rail- way, Amtrak, Port of Bellingham, the Washington State Ferry System and the Alaska Marine Highway System. Access to Canadian rail is also nearby.

• Major employers include St. Joseph’s Hospital, Western Washington University, Lummi Nation, BP Cherry Point and Fred Meyer.

2019 2019 2019 2019 MEDIAN POPULATION HOUSEHOLDS MEDIAN AGE HOUSEHOLD INCOME 224K 90K 37.3 $58,400 Growth Growth U.S. U.S. 2019-2024* 2019-2024* Median Median 5.7% 6.6% 38.1 $60,800

*Forecase Sources: Marcus & Millichap Research Services; BLS; Bureau of Economic Analysis; Experian; Moody’s Analytics; U.S. Census Bureau 28 OLD TOWN VILLAGE 5 MINUTE DRIVE TIME

17,205 7,998 $61,033 31.7 14,076

POPULATION HOUSEHOLDS AVG. HOUSEHOLD MEDIAN AGE TOTAL INCOME EMPLOYEES

7 MINUTE DRIVE TIME 33,464 15,012 $63,004 30.8 27,166

POPULATION HOUSEHOLDS AVG. HOUSEHOLD MEDIAN AGE TOTAL INCOME EMPLOYEES

10 MINUTE DRIVE TIME 71,241 31,184 $67,103 29.6 57,508

POPULATION HOUSEHOLDS AVG. HOUSEHOLD MEDIAN AGE TOTAL INCOME EMPLOYEES

OLD TOWN VILLAGE 29 EXCLUSIVELY LISTED BY

TIMOTHY UFKES BRIAN MAYER RICH DAY SENIOR VICE PRESIDENT INVESTMENTS VICE PRESIDENT - NATIONAL RETAIL GROUP SENIOR ASSOCIATE SEATTLE SEATTLE SEATTLE Tel: (206) 399-9337 Tel: (206) 826-5716 Tel: (206) 826-5814 Fax: (206) 826-5710 Fax: (206) 826-5710 Fax: (206) 826-5710 [email protected] [email protected] [email protected] License: WA 13506 License: WA 108682 License: WA 110473

30 OLD TOWN VILLAGE www.ufkesgroup.com