Development Opportunity Tacoma Land Site

Jones Lang LaSalle Americas, Inc. Listing flyer Tacoma Land Site | Tacoma, WA The Offering

JLL has been retained as the exclusive agent for the sale of 1915–1931 Tacoma Ave S, a development opportunity in Downtown Tacoma. 1915 – 1931 Tacoma Ave S is comprised of four parcels spanning approximately 28,800 square feet per records from the Pierce County Assessor. The site is currently vacant land. Two massing studies have been completed for the site, with unit counts up to 187 units, plus retail, parking, and storage. Its Downtown location provides additional advantages for the multifamily developer including immediate access to employment, education, retail, entertainment, transportation, and future development. This includes the University of — Tacoma, Brewery Blocks, Interstate 5, the Tacoma Dome, and the upcoming Tacoma Town Center Development. Further opportunities are minutes away within the core areas of the Tacoma market. The site also sits within UW Tacoma's Master Plan which will be implemented due to the projected influx of 400-500 more students each year for the next six years. The master plan will expand the current campus to help accommodate not only the influx of students, but the faculty as well.

Property summary

Address 1915 – 1931 Tacoma Avenue South City, State Tacoma, WA Tacoma Zip 98402 Land Site Submarket Downtown S 19th St 2019110060 (9,000 SF / 0.21 Acres) 2019110070 (9,000 SF / 0.21 Acres)

Parcel # Jefferson Ave 2019110080 (3,000 SF / 0.07 Acres) 2019110090 (7,800 SF / 0.18 Acres) Lot Size 28,800 SF (240 Ft Frontage x 120 Ft Depth) Zoning DMU (Downtown Mixed-Use)

Market St

Fawcett Ave Fawcett

Yakima Ave SYakima Proposed Use Mixed-Use Multifamily Development Ave S Tacoma Retail, Office, Residential, Industrial Allowable Uses S 21st St (contained within bldg.)

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City of Tacoma

The City of Tacoma is the county seat of Pierce County, Washington. Located along the banks of Commencement Bay, Tacoma is situated 32 miles south of , 31 miles north of Olympia and 18 BREWERY BLOCKS miles south of Sea-Tac International Airport. Encompassing an area totaling 62.6 square miles, most portions of the city enjoy breathtaking views of Mount Rainier.

Over the past 20 years, the local community has worked to reclaim and revitalize the City of Tacoma. The results of their investments include a thriving international port, a downtown filled with restored historic buildings, new museums, galleries and restaurants, the establishment of new centers for higher education and improved transportation.

Ongoing transformations include the Brewery Blocks and Tacoma Town Center – both located near the University of Washington Tacoma. The $200 million Brewery Blocks will have a mix of new structures and restored warehouses to include housing, offices, retail and restaurants, with full development to be completed in 2022. The showcase of the Brewery Blocks is a 14-story tower that will be Washington State’s tallest building constructed of cross-laminated timber. Meanwhile, the Tacoma Town Center had a ground-breaking ceremony in late 2017. The first phase of the $125 million, 6.4-acre development has an estimated completion date of late 2019. Phase one plans were updated in August 2018 to include apartments, condos and well over 200,000 square feet of specialty TACOMA TOWN CENTER retail space.

POPULATION The Tacoma area is experiencing some of the strongest net in-migration in the state as residents are getting priced out of urban centers such as Seattle and Bellevue. The renewed vibrancy of Tacoma brings further appeal to a growing population. For 2018, the Washington State Office of Financial Management estimates a population of 209,100 for the City of Tacoma. The median age of residents is 36.5, with 16 percent between the ages of 25 and 34, and 13 percent between the ages of 35 and 44. According to Mayor Victoria Woodards, Tacoma is poised to grow by 64 percent in the next 20 years.

Overall, the South Puget Sound has become a targeted destination on the flight to affordability. In fact, 2016 Census Bureau data shows that Pierce County achieved the highest growth of in-migration in the country when compared to 3,100 counties across the United States. Since 2014, Pierce County has grown by an average of 12,730 people per year with the clear majority of in-migration coming from King County.

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Employment

HEALTHCARE Tacoma's employment industries have become increasingly diversified. In the 1980’s since 2017. JBLM additionally supports more than 32,000 military retirees and 60,000 Microsoft and Boeing began transforming the landscape of the Puget Sound and Pierce family members living on and off base. As a result, JBLM is the fourth largest military base County shifted from wood and paper production to manufacturing. Today, employment (by population) in the country. Notably, Pierce County has the 4th highest concentration leaders in Pierce County are warehouses and healthcare. Among the largest employers of retired military personnel in the U.S., with over 15 percent of veterans remaining in the in Tacoma are the MultiCare Health System and Franciscan Health System. MultiCare Puget Sound after retiring from the military. Health System, which operates Tacoma General, Allenmore and Mary Bridge Children’s Hospitals, is the county’s largest private employer and the largest community-based, locally governed health system in Washington.

Both MultiCare and Franciscan Health Systems continue to expand within Tacoma and the South Puget Sound with significant projects completed over the past few years. Consolidation and reform within the healthcare industry, as well as the aging baby boomer generation and availability of space in the Tacoma area, has prompted continued growth. In Tacoma specifically, MultiCare operates from well over 2 million square feet of property and Franciscan holds nearly 1.4 million square feet of space within city limits. Local employment exceeds 7,400 at MultiCare and 6,500 at Franciscan, respectively.

PORTS & MILITARY INDUSTRIAL Some of the most traditional components of the local economy are the Port of Tacoma As land in Seattle has gotten increasingly more expensive, the heart of industrial and Joint Base Lewis-McChord (JBLM). Recent improvements to Port of Tacoma facilities warehousing has moved to the south. Industrial space in Pierce County now totals have increased the volume of shipments the Port can handle. Economic growth has also over 70.5 million square feet (95.4 percent occupied) and hosts almost 38,000 jobs in allowed the Port to develop into a major center for bulk, heavy-lift cargoes, medium-duty warehousing, distribution and manufacturing. In this area, nearly 3.6 million square feet trucks and automobiles. Now combined with the Port of Seattle to create the Northwest is currently under construction with two large build-to-suit projects kicking off south of Seaport Alliance (NWSA), the Port of Tacoma competes with other gateways in Canada Tacoma and a third on its way. This includes 1.2 million square feet for Ashley Furniture, and California for Pacific Rim cargo. This partnership has also created the third largest 500,000 square feet for Best Buy, as well as the new $9.5 million Tacoma Distribution cargo gateway in North America. The impact of marine cargo operations within the NWSA Center to be built at 2519 South 96th Street in Tacoma. The 78,000 square foot Tacoma is estimated at $4.3 billion, supporting over 48,000 jobs across the Puget Sound. Distribution Center will face I-5 and provide optional proximity to the Port of Tacoma.

Spanning over 645 square miles of land outside of Tacoma, Joint Base Lewis-McChord 63 percent of the total regional industrial pipeline is slated for Pierce County and new is another major economic force. The base has a total economic impact of more than deliveries are expected to be absorbed quickly. 46 percent of new speculative inventory $6 billion and JBLM represents 1.8 percent of Washington’s gross domestic product. It in Q4 2018 was pre-leased at delivery and current demand includes tenants seeking 14.5 employs approximately 62,000 soldiers and civilian workers, which is an increase of 3,000 million square feet of space.

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Key Employers Map Key employers

No.No. of of CompanyCompany name name employeesemployees 11 JointJoint Base Base Lewis-Mc Lewis-McChordChord 60,10060,100 2/32/3 MulticareMultiCare Health Health System System 7,4397,439 44 StateState Of of Washington Washington 6,8386,838 55 ChiFranciscan Franciscan Health Health System 6,5286,528 66 PierceUniversity County of GovernmentWashington Tacoma* 3,0585,722 18 7 WesternPierce CountyState Hospital Government 2,3003,058 99 7 16 9 88 CityWestern Of Tacoma State Hospital 2,2512,300 9 StateCity Farm of Tacoma Insurance Companies 2,1502,251 15 4 167 9 10 Boeing 1,575 21 10 Boeing 1,575 28 30 509 5 International Longshore And 11 International Longshore and 1,500 11 Warehouse Union Local 23 1,500 17 3 Warehouse Union Local 23 7 6 Within 10 min. drive 12 12/13 Amazon Distribution Centers 1,400 11 Amazon Distribution Centers 1,400 5 24 16 12/1314 Tacoma Public Utilities 1,350 29 14 Tacoma Public Utilities 1,350 University TACOMA 15 Davita 1,025 Fox Place 1615 MilgardDavita Manufacturing 1,0001,025 Island 14 26 1716 ComcastMilgard Cable Manufacturing 1,0001,000 20 167 1817 CampComcast Murray Cable (National Guard) 9801,000 1918 PierceCamp Transit Murray (National Guard) 976980 Within 20 min. drive 2019 KaiserPierce Permanente Transit 755976 5 2120 ColumbiaKaiser Permanente Bank 620755 25 410 2221 AacresColumbia Bank 600620 7 2322 TorayAacres Composite Materials America 560600 8 22 Puyallup 2423 RegenceToray Composite Materials America 500560 27 19 2524 RobertRegence Larson Automotive Group 496500 Lakewood Midland 2 Within 30 min. drive 26 RecreationalRobert Larson Equipment, Automotive Inc. Group (Rei) 486496 512 25 Parkland 2726 MclaneRecreational Northwest Equipment, Inc. (REI) 440486 2827 WestrockMclane Northwest 420440 2928 BurlingtonWestrock Northern Santa Fe Railroad 390420 3029 PortBurlington Of Tacoma Northern Santa Fe Railroad 267390 1 Camp 30 Port of Tacoma 267 13 Murray 18 *Includes students and faculty/staff 5 Spanaway 10

23 Hillhurst

JLL | BOV | Tacoma 7

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Education

Residents of Pierce County benefit from direct access to a variety of higher education Patrick Clark, UW Tacoma Director of Campus Planning and Retail Services, “the sweet institutions throughout the Puget Sound Region, including the adjacent King and spot is for the university to have housing for about 10 to 12 percent of the student Thurston Counties. Within these three counties there are eight major four-year population. The private sector would fill in the rest." The property is also located within universities and colleges, as well as 15 community and technical colleges. In Tacoma the master plan that is in place to handle the influx of students and faculty. The plan is itself you can find the University of Washington Tacoma, University of Puget Sound and set to be completed by 2021, and the subject property will be a prime residential Pacific Lutheran University, in addition to Tacoma Community College, Bates Technical location for residence for students attending the school. College and Evergreen State College at Tacoma. UNIVERSITY OF PUGET SOUND UNIVERSITY OF WASHINGTON TACOMA Nearly 2,600 students attend University of Puget Sound (UPS), a four-year private Founded in 1990, University of Washington Tacoma (UW Tacoma) is one of three liberal arts university. Over 40 majors, minors and interdisciplinary programs campuses that comprise the University of Washington. It was established to provide are offered. Established in 1888, UPS is located in the North End, a residential the South Puget Sound with access to the University of Washington and its reputation neighborhood near shopping, downtown and the Tacoma waterfront. It has a 97-acre for academic excellence. The Tacoma campus totals 46 acres and is situated on the campus and has completed more than a dozen campus projects since 2006 as part of south end of downtown near museums, Union Station, restaurants and parks. The city’s its 20-year master plan. light rail system stops directly in front of campus, which features historic warehouses transformed into leading-edge classrooms. Future additions to the campus include a PACIFIC LUTHERAN UNIVERSITY proposed 50,000 square foot Academic Innovation Building to serve the Milgard School Pacific Lutheran University (PLU), founded in 1890, is a private university offering liberal of Business and provide space for a new mechanical engineering program. arts and professional programs, including majors in business, education, nursing, social work and physical education. Master’s degrees are also offered. PLU is consistently Current enrollment at UW Tacoma is approximately 5,400. The student body is growing included among the top 15 Western region universities in US News & World Report’s by four to six percent a year and the school expects to reach a headcount of 7,000 by annual “Best Colleges” survey. Approximately 3,100 students attend classes on the 156- 2023. Today, UW Tacoma offers on-campus housing to only 298 students. According to acre campus.

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Transportation

Major roadways allow vehicular traffic to of Tacoma Link and connect to popular connect with the City of Tacoma, while destinations such as the Stadium District, locals can cruise the streets on electric Wright Park and the city’s major medical bikes and scooters. The city is linked to facilities. Seattle and Portland by Interstate 5, and to the Kitsap Peninsula by the Tacoma As part of the voter-approved Sound Narrows Bridge. Public transportation is Transit 3 plan, another 9.7 miles of light rail also available. Pierce Transit and Sound will be added between the Tacoma Dome Transit are the major public transportation and South Federal Way. The Tacoma Dome providers serving Tacoma and Pierce Link Extension will connect Pierce County County. Pierce Transit provides daily to the Greater Puget Sound and become express commuter buses to Seattle and part of the regional light rail system. Olympia. Sound Transit offers weekday Estimated travel time is 35 minutes to Sea- rail service to Seattle via the Sounder Tac Airport. Light rail will also provide new Commuter Rail, as well as daily express commuting options to the high-tech hubs bus service to and from Seattle. Tacoma is of King County where companies such as further served by Greyhound bus services Amazon, Google, Facebook, Microsoft and and Amtrak, Burlington Northern Santa more are rapidly expanding and adding Fe and Union Pacific railroads. Residents significant numbers of new workers. can also reach domestic and international destinations through Sea-Tac Airport.

Sound Transit operates Tacoma Link, another option for traveling within the City of Tacoma. This system connects the Tacoma Dome Station with five stations in Downtown Tacoma. Trains run every 12 minutes and service is provided at no charge. Tacoma Link will add 6 more stations and 2.4 more miles, with service Tacoma expected to begin in 2022. Known as Land Site the Hilltop Tacoma Link Extension, this project will more than double the length

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Amenities

The Tacoma Land Site’s address earns a Walk Score of 83, designating its location as Very Walkable. Over 400 shops, services, bars and restaurants are located within a one-mile radius of the property. This expansive list features some of the hottest in locally- sourced cuisine, waterfront dining, breweries and nightlife such as El Gaucho, Tacoma Brewing, Social Bar & Grill, The Hub and more. The area is an essential stop on the South Sound Craft Crawl, with nearly a dozen microbreweries in the core of Tacoma.

A growing list of new amenities soon to enter the Tacoma market includes a $30 million high-tech golf-based entertainment center known as Topgolf, as well as Flat Stick Pub - a popular chain of mini- golf bars. McMenamins is also joining the Tacoma crowd with the opening of the Tacoma Elks Temple in April 2019. The McMenamins Elks Temple is an historic building that will soon host a hotel, concert venue, restaurant, bars and a brewery. The upcoming Brewery Blocks and Tacoma Town Center will add additional local attractions.

Six world-class museums are currently located in Tacoma including LeMay – America’s Car Museum, Washington State History Museum, and the , which can be reached by the 500-foot-long pedestrian overpass known as the Bridge of Glass. Several sports teams are also based in Tacoma including the (soccer) and (). Recently announced, the Women’s Soccer League is moving the Reign FC from Seattle to Tacoma’s in time for the 2019 season.

Parks, hiking and biking trails are found throughout the city, as well as the Point Defiance Zoo & Aquarium and Ruston Way scenic waterfront. The Tacoma Dome is also within city limits – the largest indoor entertainment venue in Washington and one of the world’s largest wood-domed structures. The venue can hold crowds up to 23,000 and was recently enhanced with $30 million in renovations. 8 | Listed exclusively by JLL Listing flyer Tacoma Land Site | Tacoma, WA

28 Link Light BREWERY BLOCKS

Rail Station E 26TH ST 5 Future Link Light 41 Rail Station 40

E 11TH ST 26 27 705 The Foss Waterway 31 26 25 DOCK ST 39 705 36 37 15 17 24 Commencement Bay 23 21 34 18 PACIFIC AVE 25 S TACOMA WAY 29 30 8 13 18 20 14 27 22 12 13 16 16 22 35 28 JEFFERSON AVE 21 16 18 19 32 33 24 Thea's 11 22 23 14 15 38 13 14 20 Park 9 12 19 23 MARKET ST 10 11 12 17 15 17 19 S 25TH ST 5 9 24 7 11 8 7 S 19TH ST 6 10 TACOMA AVE S 5 10 25 S 15TH ST N SCHUSTER PKWY ST HELENS AVE S 13TH ST 26 20 1 6 4 S 11TH ST S STADIUM WAY 1 8 S 9TH ST Tacoma 3 1 2 3 S YAKIMA AVE Land Site 2 S 6TH AVE 7 2 3 4 5 9 21 4 6 Wright Park TACOMA TOWN CENTER

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Food | Drinks | Grocery Fitness | Health | Services Shopping | Entertainment 1. Sel 15. Odd Otter Brewing Co. 27. Pacific Grill 1. Wet Noses Dry Paws 15. Columbia Bank 1. King's Books 16. Blitz & Co. Florist 2. Hub Stadium District 16. The Office Bar & Grill 28. THEKOI Japanese 2. Carpe Diem Massage 16. Uplift Yoga & Healing 2. Tricky's Pop Culture 17. Watermark Gifts 3. Harmon Taproom 17. The Original House of 29. Jimmy John's 3. La Bella Nail Spa 17. Salon Eleven 21 Emporium 18. Children's Museum of Tacoma 4. Harvester Donuts Tacoma 30. Bubbles 4. Orange Theory 18. Melon Bank 3. City Thrift Store 19. Greater Tacoma Convention 5. The Copper Door 18. En Rama 31. The Social Bar & Grill 5. Supernova Hair Salon 19. YMCA 4. The Grand Cinema Center 6. Thriftway 19. Steel Creek American 32. The Swiss Restaurant 6. Loft 9 Pilates 20. Dawg Town Tacoma 5. Gigi Pop 20. Channing Baby & Co. 7. Yu's Teriyaki Whiskey Co. 33. The Rock Pizza 7. Baroque Salon 21. St. Joseph Medical 6. Artist & Craftsman Supply 21. UrbanXchange 8. Infinite Soups 20. Fujiya Japanese 34. Harmon 8. Fitness for Life Center 7. Grit City Grindhouse 22. TTown Apparel 9. Hob Nob Restaurant 21. Dunagan Brewing Co. 35. 7 Seas Brewery 9. Cilly Fitness 22. Charme Nails & Skin 8. Foss Maritime Museum 23. Tacoma Town Center 10. Dystopian State 22. The Old Spaghetti 36. El Gaucho Tacoma 10. Dolce Salon & Spa 23. Indigo Beauty Salon 9. Sanford & Son Auctions (coming 2018) Brewing Co. Factory 37. Happy Teriyaki #4 11. The Handlebar Cycling 24. Tacoma Strength 10. Broadways Best Antiques 24. Brewery Blocks (coming 2018) 11. Puget Sound Pizza 23. Bite 38. E9 Brewing Co. Studio 25. Climb Tacoma 11. Lily Pad Antiques 25. Tree 12. Over the Moon Cafe 24. Happy Belly 39. Cheers Bar & Grill 12. Bank of America 26. Grit City Fitness & 12. TerraCrux Games 26. Lollar Guitars 13. Rock the Dock 25. Tacoma Brewing Co. 40. The New Frontier 13. Super Studio 253 Performance 13. Pantages Theater 27. Hope Furnishings 14. Pacific Brewing Co. 26. The Camp Bar 41. Sluggo Brewing 14. Heritage Bank 14. Theatre on the Square 28. Tacoma Dome 15. Tacoma Comedy Club 9 | Listed exclusively by JLL Contacts

David Young Managing Director +1 206 607 1719 [email protected]

Jordan Louie Vice President +1 206 971 7007 [email protected]

Byron Rosen Analyst +1 206 607 1791 [email protected]

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