FOR LEASE 1908 Kentucky St, Bellingham, WA Listing #581141 Large Warehouse in Kentucky St Industrial Area 15,000 SF 15,000 SF Warehouse includes Warehouse has 18.6 ft Clear Height 2,160 SF +/- Office/Showroom 15 Parking Spaces Large Fenced Yard Just Off Busy Iowa St and 2 Dock High Loading Doors + One Minute from Freeway Exit 1 Grade Level Door w/ Yard Access Option to Occupy the New 12,000 SF One minute from I-5 2 x 200 Amp Single Phase Panels Building to be Built Next Door 15 parking spaces 2018/09 One grade level door w/access For information contact: to yard Jim Bjerke (360) 671-4200 [email protected] 114 W. Magnolia Street, Suite 201, Bellingham, WA 98225 Information contained herein has been obtained from the owner of the property or from other sources that we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it. Floor Plan Drawing is not to scale. Measurements are by hand and do not include wall and door width. Grade Level Door Warehouse Office Bullpen Office Office Showroom Reception Office Dock High Doors Parking Kentucky St 15,000 SF Proposed Existing 12,000 SF 15,000 SF About the City of Bellingham Located on Bellingham Bay with Mt. Baker as its backdrop, Bellingham is the last major city before the Washington coastline meets the Canadian border. Bellingham is 85 miles north of Seattle and an hour south of Vancouver B.C. Transportation links connect the community to the nearby San Juan Islands and Victoria on Vancouver Island. The downtown area has a mixture of restaurants, art galleries, and specialty shops. Bellingham is home to Western Washington University on Sehome Hill, from which there is a sweeping view across the bay to the San Juan Islands. Visitors bound for Alaska depart on the Alaska Marine Highway System ferries from the Bellingham Cruise Terminal in the Historic Fairhaven District. Bellingham has an active waterfront port that supports fishing, charter cruises, leisure boating, boat building, boat maintenance, shipping, marina operations, and many marine trades busi- nesses. Population in Whatcom County & Bellingham Washington State Office of Financial Management estimates that the total population of Whatcom, Skagit, Island, and San Juan combined is approximately 439,700 as of 2017. With its current population estimated at 216,300, Whatcom County, home to the city of Bellingham, is by far the most populous segment of this counties. Whatcom county has seen a steady population growth of about 2.06% since 2010, which is higher than the corresponding rate for Washington State (1.41%). Whatcom County attracts firms relocating out of the Seattle metropolitan area due to the quality of life found in cities like Bellingham, as well as the much lower cost of housing and living. Bellingham is the economic hub for Whatcom County. The estimated 2017 population for Bellingham is 86,720. Bellingham’s growth levels coincide with the rest of Whatcom county, and its population has represented about 40% of the county population for the past 25 years. Employment in Whatcom County Agricultural jobs have seen a decrease in Whatcom county as the economy shifts to relying on non-agricultural employment and industries. By the end of 2017, non-ag employment totaled 93,100 jobs, a total net gain of 13,200 jobs since 2010. The region surpassed the peak recession level in 2014. The biggest growth occurred between 2016 and 2017 with 3,300 new jobs added. The sectors gaining the most included mining, logging, & construction (+1,000 jobs), other services (+800 jobs), and government (+700 jobs). All of the sectors showed gains except for transportation, warehousing, and utilities, which held steady with no gains. Canada Fact: Bellingham and Whatcom County’s population once relied heavily on Canadian consumerism for economic efficiency. After the effects of September 11, 2001, there was a significant drop in border crossings lead- ing to an economic slump,. With the 2009 re- cession, Canadians saw a movement in the ex- change rate, that has since had them returning over the border to contribute to our economy. Bellingham However, because of the previous economic slump, Bellingham has grown in population and employment, and its economy holds inde- pendent from Canadian consumers. Aerial view of bay and downtown Industrial Market The Whatcom County industrial market totals 7.05 million sq ft among 326 buildings. Again, Bel- lingham has the highest amount of the supply at 3.86 million sq ft, followed by Ferndale at 1.64 million sq ft. Within Bellingham, the highest concentration of industrial buildings is in the areas around the airport, Irongate and Cordata. In Ferndale, the concentration is primarily along the I-5 corridor. Conclusion: population in Bellingham is currently on the rise. Employment picture has improved with 3,000 new jobs over the past year and unemployment down to 5.6%. Retail spending is up 10.3% through the 3rd quarter of 2017. With the recent job growth, the region should continue to do well. Boulevard Park boardwalk About the Port of Bellingham From the Port of Bellingham’s website: “The Port of Bellingham works closely with private enterprise and local and state agencies to facili- tate the retention of existing business and the location of new business to Whatcom County. Like many ports in Washington State, the Port of Bellingham’s activities go far beyond ocean shipping. Its many other activities are dedicated to meeting the broader economic and transportation needs of Whatcom County. Diverse activities, such as the operation of Bellingham International Airport, marine and rail passenger terminals, two marinas, a cargo transportation terminal, and those activities of over 260 different Port commercial property tenants account for more than ten percent of the employment in Whatcom County. The Port of Bellingham has optimal access, whether it’s providing transportation connections, infrastructure or communications. Let the Port be your business partner, working with you to make your development become a reality.” About Western Washington University From their official website: “Western is an energized campus community with nearly 16,000 students and over 160 academic programs. Western offers the focus on students and the faculty ac- cess of a smaller college with the academic choice, opportunities for research, multicultural diversity, and room to grow of a large university.” Quick Facts: Of 15.915 students (of an 82,000 population in Bellingham), 87% are residents on Washington, and 13% are non-residents (including international students) Last fall (2017), 3,114 new freshmen enrolled at WWU WWU offers 160+ academic programs taught by an accredited faculty. Classes average 28 students in size; an 18:1 student to faculty ratio With a high retention rate, 81% of freshmen return the following fall 92% of freshmen live on campus their first year(and campus is only a couple short miles from the downtown Bellingham area) 17% of undergraduate students graduate with a degree from the college of business and economics, making Western alumni highly marketable for growing businesses in Bellingham Downtown Bellingham Statistics & Highlights A Decade of Downtown Accomplishments: 1. Emergence of urban residential neighborhoods; more residents Downtown create a stronger send of community and a larger pool of customers supporting Downton businesses. 2. Habitat in Whatcom Creek corridor has been restored through cleanup efforts of the downtown parks and replacement of non-native species of plants with native species. 3. Depot Market Square (one block from offered site) has become permenant home for Bellingham Farmer’s Market creating huge commercial success and community life building. 4. Railroad Avenue and Holly Street intersection has been redeveloped transforming the space into a vibrant mixed-used gateway— contributes to additional distinctive identity improve- ments. 5. Pedestrian Environment sees huge improvement with the incorporation of public spaces and widening of sidewalks. 6. Bicycling is safer and more convenient; over $11 million in local transportation funds invested into bike lanes, bike parking, and the Whatcom Transportation Authority (WTA)’s “Bikes on Buses” program. 7. Investment in the Downtown Arts District has created a dynamic cluster of cultural venues. 8. Historic buildings have been revitalized leading to potential for Downtown to become a National Historic District 9. The private sector has responded to Downtown needs and opportunities; corporations have moved into existing buildings and property owners have made improvements to building facades and signage. 10. Adoption of new urban villages plans for the Waterfront and Old Town districts will provide opportunities for thousands of new jobs and housing to support Downtown businesses. Tax Incentives for New Businesses New businesses and branches that locate in Downtown are eligible for a graduated tax credit of 90% for the first year, 75% for the second year, and 50% for the third year of operation Contact the Business License Services/Tax Line for further information: (360) 778-8012 | [email protected] 2,500 Downtown Residents 100,000 People More than 2,500 people live downtown and 100,000 people live within 15 minutes of creative developers are adding new housing to downtown the market 7,500 Employed Tourists More than 7,500 employees work in downtown Visitors to Whatcom County spent nearly $600 Bellingham million in 2016 (increasing yearly) Neighborhood Tenants - Entertainment District Tenants include: Boundary Bay Brewery & Bistro Rumors Cabaret Woods Coffee La Fiamma Wood Fire Pizza Cap Hansen’s Tavern Underground Kombucha Town Pell’Meni Woolies The Shakedown The Color Pot Old World Deli Bellingham Herald Bob’s Burgers Starbucks Jun Sushi & Bento & many more! Large Warehouse in Kentucky St Industrial Area 1908 Kentucky St, Bellingham, WA 15,000 SF Warehouse Space Available Now 12,000 SF To be Constructed For information contact: Jim Bjerke (360) 671-4200 [email protected] 114 W.