1200 Jadwin Avenue 1200 Jadwin Avenue | Richland, Washington | 99352
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1200 JADWIN AVENUE 1200 JADWIN AVENUE | RICHLAND, WASHINGTON | 99352 BUILT 1980 SQUARE FEET 126,175 NET RENTABLE SQUARE FEET 110,773 FLOORS 6 + 1/2 basement) ELEVATORS 3 cars, 7 stops, 2,500 lb capacity AIR CONDITIONING Central HVAC HEAT Electric Baseboard PARKING Covered, Open, Visitor LAND ACRES 4.18 acres PROPERTY BASICS ROOF Concrete slab with Parapets, covered by built-up systems FOUNDATION Concrete slab FLOOR PLATES 16k square foot concrete slabs This Memorandum does not necessarily provide a complete or fully accurate summary of the Property or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of the information which prospective lenders or investors may need or desire. The operating, financial, or physical condition of the Property may have changed since the creation of the Memorandum. Paragon, along with its clients, members, officers, agents or principals have not made, nor will they make any representations or warranties, express or implied, as to the accuracy or completeness of the Memorandum, any of its contents or any other Information, and no legal commitment or obligation shall arise based on the Memorandum, its contents or any other Information. Analysis and verification of the provided information is the sole responsibility of the prospective lender or investor. PRESENTED BY Jenna Coddington (509) 539-8048 [email protected] 1100 Jadwin Ave., Suite 100 Richland, WA 99352 2 BEGINNINGS Constructed in 1980, 1200 Jadwin is a concrete office tower, originally built on a ground lease from the City of Richland. Long occupied by Department of Energy contractors, the building is a Richland landmark. The main entrance is on the 2nd floor, facing Jadwin Avenue, with two-level parking connected by a bridge over a creek and walking/biking trail. The original marble tile still lines the floor and elevator lobby walls. The Guyer Avenue entrance served as an employee entrance, leading to extensive parking on the north and east sides of the property. A cafe operated in the basement. The central core of the building contains all the utilities, elevators, and restrooms on each floor, leaving the 16k square foot floor plates available for any layout you can imagine. RECENT HISTORY In 2016, 1200 Jadwin was vacant when a pipe on the 7th floor broke. The leak wasn’t detected for several days, leading to extensive water damage to the building’s finishes. The damage was professionally remediated, but the finishes were not replaced, leaving the building in pre-whiteshell condition. The majority of the interior walls, floor coverings, and fixtures have been removed. The current owners purchased it in 2018 as a package with 1100 Jadwin. They negotiated with the city to terminate the ground lease and purchase the underlying land. After separating the land into two plots, the sellers executed a full renovation of the 1100 Jadwin building. POTENTIAL FUTURE Given its pre-whiteshell condition, large floor plates, and surrounding acreage, 1200 Jadwin is a value-add property. Occupy as a single tenant, sub-lease to multiple tenants, or completely reposition the property for your best use. DETAILS & DESCRIPTIONS DETAILS 3 IDEAL LOCATION Located in Richland’s Central Business District, 1200 Jadwin is ideally located. Jadwin Avenue is a high traffic-exposure location. This building is positioned one-block from City Hall, The Uptown Shopping Center, and Kadlec Regional Medical Center. Two blocks away you’ll find the Parkway, Richland’s charming small-business corridor; John Dam Plaza, Howard Amon Park, and the Federal Building. Located in the heart of the Pacific Northwest, the cities of Richland, Kennewick, and Pasco comprise the Tri-Cities in Southeastern Washington state. Here the Columbia, Snake, and Yakima river converge, providing endless fun on our 300+ sunny days per year. With a well-established and ever-growing technology sector, as well as a skilled workforce featuring some of the sharpest minds in the country, the region is a great choice for your business. Currently, nearly 290,000 people call the Tri-Cities, which spans Benton and Franklin Counties, home. The third largest metro area in the state, it has also recently been the fastest-growing one. Major economic activities are agriculture, agricultural manufacturing, research at a national energy laboratory, remediation of nuclear waste, and tourism. The population of the two counties has become increasingly diverse over time. The counties boast Columbia Basin College and Washington State University Tri-Cities. It is also the home of Pacific Northwest National Laboratory (PNNL). PNNL performs over $1B per year in IDEALLY LOCATED IDEALLY research volume. Staff files one invention disclosure per day, and one patent is granted to PNNL per week. Separated by the Columbia River, the two counties sport different collective personalities but are united around the common goal of making the quality of life here even better. UPTOWN 1200 JADWIN CITY HALL KADLEC 4 Three Rivers. Four Cities. Unlimited Possibilities. Need More Safehome.com, 2017 MoneyGeek.com, 2016 Area Development, 2015 MoveBuddha.com, 2018 WA State ESD, 2017 Jenna Coddington Commercial Broker (509) 539-8048 [email protected] 1100 Jadwin Ave., Suite 100 Richland, WA 99352 5.