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Development Site 1 Block from Rainier Beach Station 8803 Mlk Jr Way S & 4215 S Trenton St Seattle, Wa Exclusive Listing Agents

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Development Site 1 Block from Rainier Beach Station 8803 Mlk Jr Way S & 4215 S Trenton St Seattle, Wa Exclusive Listing Agents East Link Extension (2023) DEVELOPMENT SITE 1 BLOCK FROM RAINIER BEACH STATION www.BuyLinkDevelopment.com 8803 MLK JR WAY S & 4215 S TRENTON ST SEATTLE, WA EXCLUSIVE LISTING AGENTS TIM McKAY DAN CHHAN SAM WAYNE Senior Vice President Senior Vice President Vice President +1 206 223 5586 +1 206 223 1265 +1 206 515 4498 [email protected] [email protected] [email protected] www.BuyLinkDevelopment.com CONFIDENTIALITY & DISCLAIMER Colliers International has been retained as the exclusive listing broker for the Link Development Site in the city of Seattle, Washington. The Seller will consider offers on an all cash basis. Legal documents and reports summarized in this Offering Memorandum are not intended to be comprehensive statements of the terms or contents of such documents and reports. Although the Seller and Colliers International believe the information to be accurate, interested parties should conduct an independent investigation and reach conclusions without reliance on materials contained herein. The Seller reserves the right, for any or no reason, to withdraw the property from the market. The Seller has no obligation expressed or implied, to accept any offer. Further, the Seller has no obligation to sell the property unless and until the Seller executes and delivers a signed contract of sale on terms acceptable to the Seller, in its sole discretion. The material contained in this Offering Memorandum is confidential, under the terms and conditions of a Confidentiality Agreement, which has been executed by the recipient as Reviewer, and furnished solely for the purpose of considering the purchase of the property described herein and is not to be copied and/or used for any other purpose, or made available to any other person without the express written consent of Colliers International or the Seller. This Memorandum is delivered under the terms and conditions of a Confidentiality Agreement, which has been executed by the recipient as Reviewer. All terms and conditions of the Confidentiality Agreement apply to information contained herein, as appropriate. Offers should be delivered to the office of the Exclusive Listing Agents, Colliers International attention Tim McKay, Dan Chhan, and Sam Wayne. To facilitate analysis of offers, offerors are encouraged to provide information relative to funding sources, experience in owning and operating similar properties, familiarity with the market and any other information which is likely to favorably reflect on the offerors ability to close this proposed transaction in a timely manner. Inquiries and tours are to be directed to the Exclusive Listing Agents. Please do not contact the Property. This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, express or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this documents and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and/or its licensor(s). ©2019. All rights reserved. LINK DEVELOPMENT SITE THE OFFERING Colliers International’s McKay | Chhan | Wayne present the LINK Development site located just one block from the Rainier Beach Light Rail station and walking distance to the heart of the central retail corridor. This site is a rare combination offering excellent access to transit and walkability. Pending permits for 44 townhomes (pre MHA), the development site was recently rezoned to accommodate a 250+ unit development. Demand for workforce housing has pushed developers far outside of the Seattle city limits, but Link provides the opportunity to build affordable or workforce units in Seattle immediately adjacent to light rail. Within walking distance of the development site is a grocery store, numerous coffee shops, restaurants, and bars, Chief Sealth Trail, and the Rainier Beach Community Center. The Walk Score is 75, Very Walkable, and the Bike Score is 77, Very Bikeable. Just one block to the south of the LINK Development site is the Rainier Beach Light Rail station, with direct access to Seatac Airport, Downtown Seattle, and University of Washington. Light Rail services over 80,000 riders per day, which will increase in 2023 as access expands to North Seattle, Bellevue, and the Microsoft Campus in Redmond. Light rail is the easiest and most direct method of transportation north and south through Seattle. Pricing Summary Property Summary Purchase Price $6,000,000 Address 8803 MLK Jr Way S & 4215 S Trenton St Price Per Unit - Affordable $20,548 Site Area 53,362 SF Price Per Unit - Market $31,579 Parcel 212370-0305, 212370-0306 Price Per Lot SF $112 Urban Village Rainier Beach Zoning Analysis Affordable Overview Market Rate Overview 8803 MLK Jr Way S - Zoning SM-RB 125 (M2) - 23,403 SF SM-RB 125 (M2) - 23,403 SF 8803 MLK Jr Way S - FAR 5.75 3.75 4215 S Trenton St - Zoning SM-RB 55 (M1) - 32,998 SF SM-RB 55 (M1) - 32,998 SF 4215 S Trenton St - FAR 3.25 2.25 Total Potential NRSF 267,808 188,703 Total Potential Units 292 190 3 LINK DEVELOPMENT SITE LINK DEVELOPMENT SITE TRANSIT-ORIENTED DEVELOPMENT ONE EXCELLENT DEVELOPMENT SITE BUILD BLOCK FROM THE RAINIER BEACH LIGHT RAIL 250+ APARTMENT UNITS WITH IDEAL SLOPE STATION AND VISIBILITY WALKABLE LOCATION 75 WALK SCORE, ACCESSIBLE TRANSIT 32 MINUTES TO MOST ERRANDS CAN BE ACCOMPLISHED ON UW, 24 MINUTES TO DOWNTOWN, AND 16 FOOT MINUTES TO THE AIRPORT VIA LIGHT RAIL CHIEF SEALTH TRAIL VAN ASSELT PRITCHARD ELEMENTARY ISLAND BEACH THISTLE COMMUNITY GARDEN DUNLAP ELEMENTARY/YMCA BEER SHEVA PARK RAINIER BEACH POOL/ RAINIER BEACH COMMUNITY CENTER HIGH SCHOOL RAINIER CARKEEK DRIVE GREENBELT STATION LAKE WASHINGTON CHIEF SEALTH TRAIL RAINIER BEACH LIBRARY BOEING MLK JR WAY S FIELD BENEFIT PLAYGROUND North 4 COLLIERS INTERNATIONAL LINK DEVELOPMENT SITE KIRKLAND ±10,000 Jobs UNIVERSITY OF WA FREMONT/WALLINGFORD ±46,000 Students • 25,000 Faculty ±9,000 Jobs REDMOND ±90,000 Jobs SLU/QUEEN ANNE ±79,000 Jobs SEATTLE CBD ±300,000 Jobs BELLEVUE ±90,000 Jobs PIONEER SQUARE/S SEATTLE ±70,000 Jobs North LIGHT RAIL ACCESS TO MAJOR EMPLOYMENT CENTERS 5 LINK DEVELOPMENT SITE LINK DEVELOPMENT SITE RETAIL AMENITIES WITHIN A 10 MINUTE WALK GROCERY & 16 MARKETS BARS & 17 RESTAURANTS 3 BANKS 13 CAFÉS 5 ENTERTAINMENT 7 GYMS 16 SHOPS 6 COLLIERS INTERNATIONAL LINK DEVELOPMENT SITE TRANSIT-FOCUSED LIGHT RAIL ACCESSIBILITY TO SEATTLE, THE EASTSIDE, AND BEYOND Sound Transit’s Link light rail system provides fast, reliable public transportation in major metropolitan areas. When completed in 2041, the light rail network will span the Puget Sound region of western Washington State. Spanning 22 miles from the 116 miles and encompass 80 stations from Everett on the north to Tacoma on the University of Washington in Seattle to Angle Lake, the Central link of the current south, West Seattle’s Alaska Junction on the west and Redmond and Issaquah on system makes 13 stops, including downtown Seattle, CenturyLink Field, T-Mobile the east. The City of Bellevue, the region’s most rapidly growing business center and Park and Sea-Tac International Airport. The Link light rail began service in 2009, home of significant new commitments by Amazon, will be served by eight stations. with the first travelers riding from Seattle to Tukwila. Today, getting from the Seattle residents will easily commute to Microsoft’s Redmond headquarters, Boeing’s University of Washington to Sea-Tac Airport takes just 44 minutes, and service Everett production facility, REI’s new Bel-Red headquarters, and the Port of Tacoma. runs every six, ten, 12 or 15 minutes (depending on time of day) seven days a week. In Northgate, the old Northgate Mall is currently undergoing transformation into a Travel from destinations within Seattle has never been easier. mixed-use residential, retail, entertainment, and office development that includes a practice facility for Seattle’s new NHL hockey team, and will be the first extension The Link light rail recorded more than 24.4 million boardings in 2018. To facilitate completed (2021). Transport to the Eastside will arrive in 2023 and Lynnwood and better movement across King, Pierce, and Snohomish counties, the Link system Federal Way in 2024. is currently undergoing an extensive expansion that will rival those in comparable HOW SEATTLE COMMUTERS GET TO WORK Public47.3% Transportation Personal29.7% Vehicles Non-motorized12.4% Travel Carpools8.8% / Vanpools Source: Curbed Seattle (2017) 7 LINK DEVELOPMENT SITE LINK DEVELOPMENT SITE LIGHT RAIL EXPANSION Connecting Everett to Tacoma Est. 2036 Est. 2024 Along the planned routes and especially near new stations, property values have risen as real estate companies, investors and developers seek to leverage the foot traffic and demand for housing, dining, shopping, and other services expected from commuters, travelers, students, and Est. 2024 others. This transit-oriented development is facilitating, and will continue to facilitate, walkable communities that bring new life to under-developed sites and provide opportunities for affordable housing in an area struggling to accommodate its growing population. Sound Transit itself has instituted policies and processes for including affordable housing in transit-oriented Est. 2023 development adjacent to light rail stations. Allowing for easy access to mass transit will also ease congestion on the region’s highways by making car- ownership an option, rather than a necessity. Bellevue Downtown Passenger Trips East Main Projected University Link Extension - 2016 University - 2021 Northgate Link Extension Bellevue Link Extension - 2023 Complete East Link Extension - 2024 South Bellevue 80 70 SEATTLE DOWNTOWN 60 50 40 30 20 Annual Ridership in the Millions in Ridership Annual 10 0 Est.
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