WHATCOM PROPERTIES: WHATCOM PROPERTIES JUNE 2012 FOR SALE FOR LEASE ISSUE: JUNE Bellingham, WA (360) (360)

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1 ISSUE: WHATCOM : FOR SALE FOR LEASE FACEBOOK.COM/WINDERMERE COMMERCIAL NORTHWEST LINKEDIN.COM/COMPANY/WINDERMERE COMMERCIAL Windermere Bellingham Windermere Birch Bay/Blaine Windermere Fairhaven Windermere Lynden W Bakerview Rd 80 Birch Bay Square St 00 Old Fairhaven Pkwy #0 807 Guide Meridian #0 Bellingham, WA 98 Blaine, WA 980 Bellingham, WA 98 Lynden, WA 98 (0) (0) 7 00 (0) (0)

2 TABLE OF CONTENTS: Page A: COSTAR ARTICLE: Pace of Recovery Accelerates For Lower End CRE Proper es Findings Point To Improving Market Condi ons Across The En re Commercial Property Market, Not Just Trophy Assets In Top Metros Page B: COSTAR ARTICLE: Mixed Indicators Point to Right Sizing Warehouse Investment Strategy How Changing Market Condi ons Affect the Compe ve Landscape Page C: Loopnet Market Report for Bellingham: Asking Rent For Lease Office & Retail Page D: News Release NARS: All Real Estate Sectors Continue To Improve, Multi-Family Strong Page E-F: Windermere Commercial s June 0 Listing Changes Pages -: Windermere Commercial: Buildings For Sale Pages -: Windermere Commercial: Land For Sale Pages -: Windermere Commercial: Listings For Lease Pages : Windermere Commercial: Business Opportunity Listings WINDERMERE WHATCOM: COMMERCIAL AGENTS CONTACT INFORMATION AGENT NAME: PHONE #: ADDRESS: JEFF BAKER 0 79 JEFFBAKER@WINDERMERE.COM KC COONC KC@SOLUTIONSTEAM.NET KEVIN GERAGHTY 0 9 KEVING@WINDERMERE.COM BILL HENSHAW BHENSHAW@WINDERMERE.COM MIKE HINKLE MHINKLE@WINDERMERE.COM JEFF HOPWOOD JEFFHOPWOOD@WINDERMERE.COM DAVID HOVDE DHOVDE@WINDERMERE.COM JEFF JOHNSON JAJOHNSON@WINDERMERE.COM KIRBY JONES KIRBYJONES@WINDERMERE.COM MIKE KENT MIKE@MIKEKENT.COM MIKE KINGSLEY 0 9 KINGSLEY@WINDERMERE.COM JASON LOEB JASONLOB@GMAIL.COM RYAN MARTIN RYAN@SOLUTIONSTEAM.NET GARY MEDEARIS GARYMEDEARIS@WINDERMERE.COM JOHN MITZEL 0 JOHNEMITZEL@WINDERMERE.COM ETHAN POTTS ETHANPOTTS@WINDERMERE.COM CHARLIE RINKER 0 80 CRINKER@WINDERMERE.COM CLIFF RUNNING CLIFFRUNNING@WINDERMERE.COM ROBERT SANDOZ 70 RSANDOZ@WINDERMERE.COM FRED SEXTON FSEXTON@WINDERMERE.COM KAREN TIMMER KAREN@KARENTIMMER.COM JOHN TEMPLETON 0 0 JTEMP@AOL.COM MIKE VAIL MIKE@MIKEVAIL.NET LESTER VANMERSBERGEN 0 0 LESTERVAN@WINDERMERE.COM Page G: Windermere Commercial Agents Phone Numbers and Addresses *FRONT COVER MIKE HINKLE S LISTING FOR SALE/LEASE ON SQUALICUM PKWY COLOR -CODED PAGES, IN ORDER: Buildings for sale Land for sale For Lease Business Opportunities

3 JUNE By Randyl Drummer, June, 0 Pace of Recovery Accelerates For Lower End CRE Proper es Findings Point To Improving Market Condi ons Across The En re Commercial Property Market, Not Just Trophy Assets In Top Metros CRE investors are stepping up their efforts to find value outside the best buildings in the top U.S. metros, cas ng their nets in a growing number of secondary markets and asset types as price growth slows for the highest end proper es, according to this month's CoStar Commercial Repeat Sale Indices (CCRSI) report. For the past two years, pricing gains in the value weighted composite index have been consistently stronger than its equal weighted counterpart, sugges ng that prices have recovered more rapidly among the larger and more expensive assets. Market fundamentals have also recovered more quickly at the top end of the market, where demand for Four Star and Five Star office buildings, luxury apartments, and modern big box warehouses has outpaced the overall market. However, the most recent data shows that the pricing momentum appears to be shi ing from the larger, more expensive buildings to the broader market, dominated by smaller, less expensive proper es. The value weighted composite index's.% year over year gain in April slowed from its double digit growth rate throughout 0. The April pricing data, based on 77 repeat sales during the month and more than 00,000 repeat sales since 99, included the public release for the first me of analysis of CoStar's value weighted U.S. Composite Index, which provides addi onal insight into CRE price movements, especially for larger ins tu onal transac ons. The value weighted composite index, along with the equal weighted U.S. Composite Index the two broadest measures of aggregate CRE pricing within the CCRSI posted a decline of.% and a % gain from the previous month, respec vely, in April. Although the two indices reflected a mixed picture for prices in April, both improved from the same period a year ago. CoStar has been tracking price changes on both an equal weighted and a value weighted basis since developing the CCRSI in 00. While both indices include the same repeat sale transac ons, the different weigh ng methods offer deeper insight by analyzing price movements in different ways. The equal weighted index weighs each repeat sale equally and is heavily influenced by the more numerous smaller deals. The valueweighted index weighs each sale by transac on size or value and is heavily influenced by larger transac ons. While an equal weighted index is considered more relevant for measuring the performance of average commercial proper es, a value weighted index correlates be er to marketplace capital flows necessary for larger transac ons. For the first me in the current recovery cycle, the equal weighted index has accelerated its year over year growth over the past six months, showing that investors have begun to look beyond large, core proper es to the lower end of the market. As CRE prices rise, transac on volume and many other measures of liquidity are also improving. Over the past months ended April 0, sale pair counts increased by 9% over the previous month period ended in April 0. The growth was slightly lted toward the investment grade segment of the market, which posted a % increase in pair counts over that period. In other CCRSI findings in April: * Transac on data shows that European investors have played a key role in improving liquidity. The share of commercial property purchases by European buyers in 0 has more than tripled from 0 levels, a signal that investors may be seeking safe havens in the midst of the Eurozone economic turmoil. * Commercial property sellers are finding a more accommoda ng market in 0. Average me that proper es are on the market prior to sale has decreased this year for the first me since the start of the Great Recession. Also, the gap between the ini al asking price and final sales price narrowed over the first four months of 0 at its fastest rate since 00. * The level of distress property sales has been generally declining as a percentage of property sales volume over the past months. Only.% of observed trades in April 0 were distressed,.% lower than the peak level observed in March 0. COSTAR NEWS RELEASE: A

4 COSTAR NEWS RELEASE: Mixed Indicators Point to Right Sizing Warehouse Investment Strategy How Changing Market Condi ons Affect the Compe ve Landscape WHATCOM By Mark Heschmeyer, June, 0 Leading indicators of warehouse demand have been mixed this spring and appear to be on shaky ground. Nonetheless, they s ll appear to be poin ng in the right direc on. "On the bright side, companies con nue to book record breaking profits," Ki Bin Kim, analyst for Macquarie Capital (USA) Inc. wrote in a recent report. "However, retained earnings have not been used to expand or reinvest into businesses, in a significant manner." Since the fourth quarter of 008, corporate profits are up 0% but business spending on fixed investments that has remained flat at 0.%, Kim reported. Also, the slowing growth rate of corporate profits isn't helping the situa on. "Combined with no new net supply [some mes even nega ve supply, according to CoStar Group] and con nued gains in e commerce that require addi onal distribu on centers, we expect U.S. industrial absorp on to improve by 00 basis points (bps) by the end of 0," Kim reported. "This implies that the na onal occupancy rate improves to 9.% from 9% today, all else equal." "This is one of the primary reasons we remain bullish on industrial," Kim said. Shaw Lupton, senior real estate economist for CoStar Group, said that based on current condi ons, the warehouse market is ripe for value add and opportunis c investment strategies. "Whether the inclina on is to acquire and rehab undercapitalized/underleased mul tenant proper es, buy land parcels with development poten al, or construct ginormous boxes, it's important for investors to understand how changing market condi ons affect the compe ve landscape differently across warehouse markets and tenant profiles," Lupton said. "Knowing this can mean the difference between pulling the trigger on a right sized building for the market or diving headfirst into an investment bloodbath." Most markets have seen big box space blocks of at least 00,000 square feet soaked up rapidly in recent quarters, Lupton said. "Less talked about is that in most markets, occupancy has significantly improved in locally oriented product within space blocks under 0,000 square feet," he added. "But buyer beware not everyone is having a party. Regional space is s ll struggling in most markets the 00,000 square foot to 0,000 square foot blocks remain a lot closer to recession highs than prerecession bo oms," Lupton said. Phoenix is a prime example. The market as a whole is seeing occupancy improve by leaps and bounds, but the number of vacant blocks for midsized buildings is at a year peak. The Inland Empire looks to be one of the be er markets; it has about half the number of vacant blocks in the 00,000 square foot to 0,000 square foot range as at its prerecessionary peak, but these blocks are s ll at two thirds of their cyclical high. Chicago is also star ng to make progress, but like most markets, it has a long way to go before reaching equilibrium, Lupton said. There will certainly be opportuni es in the midrange of the market as fundamentals con nue to firm up. But investors may want to build more down me and rent concessions into their underwri ng of regionally oriented product in places like these and in other pockets of the U.S. market where fundamentals remain rela vely so, Lupton said. According to Fitch Ra ngs, two developing trends that may impact U.S. industrial REITs in the coming months relate to Asia and property trade volumes. First, expansion in Asia may be a harbinger that REITs are looking to take advantage of tenants' global opera ons and economic growth in that region. Secondly, increased deal flow among established and newer REITs, ins tu ons, and end users may result in con nued capitaliza on rate compression, which indicates good liquidity for the property type. Industrial REITs con nue to be ac ve buyers and sellers, indica ve of good liquidity in the asset class. Likewise, unencumbered property pools con nue to allow industrial REITs flexibly to engage in por olio recycling and pledge assets to obtain addi onal funding. Indica ve of further momentum, limited new supply has bolstered industrial occupancy rates to 90.8% in 0 from 90% in 00, according to CoStar numbers cited by Fitch. The ra ng agency an cipates that these factors will collec vely spur low single digit same property NOI growth for the remainder of 0, con nuing the upward path that began from the first quarter 00 trough. Several companies have already revised their 0 same store NOI guidance upward, including Prologis Inc. to % % from 0% % originally; First Industrial Realty Trust Inc. to.%.% from % % originally and EastGroup Proper es Inc. to 0% % from (0.%).% originally. B

5 LoopNet Bellingham Market Report June 0: Asking Rent For Lease Properties ASKING RENT RETAIL FOR LEASE BELLINGHAM, WA ($/SF/YEAR) vs. month Mar Prior Y O Y State $ % 0.8% Metro $.0.0% 7.7% County $..%.9% ASKING RENT OFFICE FOR LEASE BELLINGHAM, WA ($/SF/YEAR) vs. month Mar Prior Y O Y State $ % +0.% Metro $. +0.%.% County $. +0.9%.% City $.7 +.%.% C

6 News Releases NATIONAL ASSOCIATION OF REALTORS (NARS) All Commercial Real Estate Sectors Con nue to Improve, Mul family Strong WASHINGTON (May, 0) WHATCOM Shaking off a prolonged impact from the recession, fundamentals are gradually improving in all of the major commercial real estate sectors, according to the Na onal Associa on of Realtors quarterly commercial real estate forecast. The apartment rental sector has fully recovered and is growing. The findings also are confirmed in NAR's recent quarterly Commercial Real Estate Market Survey, which collects data from members about market ac vity. Lawrence Yun, NAR chief economist, said new jobs are the key. "Ongoing job crea on, which is at a higher level this year, is fueling an underlying demand for commercial real estate space, assisted by a steady increase in consumer spending," he said. "The pa ern shows gradually declining commercial vacancy rates, with consequen al but generally modest rent growth." Yun expects the economy to add to. million jobs both this year and in 0, on the heels of.7 million new jobs in 0, assuming a new federal budget is passed before the end of the year. "Although we need even stronger job growth, by far the greatest impact of job crea on is in mul family housing, where newly formed households striking out on their own have increased demand for apartment rentals this is the sector with the lowest vacancy rates and strongest rent growth, which is a rac ng many investors." Rising apartment rents also are having a posi ve impact on home sales because many long me renters now view homeownership as a be er long term op on, Yun noted. A large problem remains for purchases of commercial property priced under $. million. "Our recent commercial lending survey shows that there is very li le capital available for small business, which is significantly impac ng commercial real estate transac ons, although funding is less restric ve for bigger proper es." NAR's latest Commercial Real Estate Outlook offers projec ons for four major commercial sectors and analyzes quarterly data in the office, industrial, retail and mul family markets. Historic data for metro areas were provided by REIS, Inc., a source of commercial real estate performance informa on. Office Markets Vacancy rates in the office sector are projected to fall from. percent in the second quarter of this year to.0 percent in the second quarter of 0. The markets with the lowest office vacancy rates presently are Washington, D.C., with a vacancy rate of 9. percent; New York City, at 0.0 percent; and New Orleans,. percent. Office rents should increase.0 percent this year and. percent in 0. Net absorp on of office space in the U.S., which includes the leasing of new space coming on the market as well as space in exis ng proper es, is forecast at.7 million square feet in 0 and 8.0 million next year. Industrial Markets Industrial vacancy rates are likely to decline from.0 percent in the current quarter to 0.7 percent in the second quarter of 0. The areas with the lowest industrial vacancy rates currently are Orange County, Calif., with a vacancy rate of.7 percent; Los Angeles,.0 percent; and Miami at 7. percent. Annual industrial rent is expected to rise. percent in 0 and. percent next year. Net absorp on of industrial space na onally is seen at. million square feet this year and. million in 0. Retail Markets Retail vacancy rates are forecast to decline from. percent in the second quarter to 0.7 percent in the second quarter of 0. Presently, markets with the lowest retail vacancy rates include San Francisco,.7 percent; Fairfield County, Conn., at.0 percent; and Long Island, N.Y., at.0 percent. Average retail rent should rise 0.8 percent this year and. percent in 0. Net absorp on of retail space is projected at 8.0 million square feet this year and.9 million in 0. Mul family Markets The apartment rental market mul family housing is likely to see vacancy rates drop from. percent in the second quarter to. percent in the second quarter of 0; apartment vacancy rates below percent generally are considered a landlord's market with demand jus fying higher rents. Areas with the lowest mul family vacancy rates currently are New York City,. percent; Portland, Ore., at. percent; and Minneapolis at. percent. A er rising. percent last year, average apartment rent is expected to increase.0 percent in 0 and another. percent next year. "Such a rent increase will raise the core consumer infla on rate. The Federal Reserve, in turn, may be forced to raise interest rates, possibly as early as late 0." Mul family net absorp on is forecast at,900 units this year & 0,00 in 0. D

7 LISTING CHANGES PAGE # STATUS CHG PROPERTY ADDRESS PRICE CBA# AGENT NAME. NEW: Ind. Condo 89 Alderson #0, Blaine $0, Jeff Johnson. BOM: Bldg/Land 00 Deemer, Bellingham $99, Jeff Hopwood. PR. REDUCED: Bldg. 7 W. Magnolia, Bellingham $, J. Loeb/C. Rinker. SOLD: Building Marine Dr, Blaine $0, Bill Henshaw 7. PR. REDUCED: Bldg. 0 Portal Way #0 $, Bill Henshaw 7. PR. REDUCED: Bldg. 0 Portal Way #0 $0, Bill Henshaw 9. NEW: Office 0 Railroad Ave, B ham $7, Mike Kingsley 9. SOLD: Multi-Fam. 9 Semiahmoo Pkwy, Blaine $7,000, M. Kent/J. Johnson 9. NEW: Bldgs. 780 Silver Lake Rd, Maple Falls $78, J. Hopwood/K. Swanson 9. NEW: Office 90 Squalicum Way A07 $9, Mike Hinkle 0. NEW: Office 909 Squalicum Way B0 $,0 89 Mike Hinkle 0. NEW: Office 909 Squalicum Way B0 $,0 890 Mike Hinkle 0. NEW: Office 909 Squalicum Way B07 $,0 890 Mike Hinkle 0. NEW: Office 909 Squalicum Way B7 $0, Mike Hinkle 0. NEW: Office 909 Squalicum Way B0 $0, Mike Hinkle 0. NEW: Office 909 Squalicum Way B $0, Mike Hinkle. PENDING: Land 9 Airport Dr, Bellingham $898, Kevin Geraghty. PR. REDUCED: Land 0 Alderson Rd, Blaine $7, M. Kingsley/J. Loeb. PENDING: Land 70 W. Bakerview, B ham $90, Jeff Johnson. NEW: Land Birch Bay Lynden Rd $,80, M. Kent/J. Johnson. NEW: Land 0 Birchwood, B ham $8,000, Mike Hinkle. PR. REDUCED: Land XXX Blaine Rd, Blaine $00, M. Kent/J. Johnson. PENDING: Land 9 Buchanan Loop, Ferndale $,00, M. Kent/J. Johnson. NEW: Land 0 Cordata Pkwy, B ham $90, Mike Hinkle. NEW: Land Grandview Rd, F dale $0, Cliff Running 7. PENDING: Land Hendrickson Rd, Ferndale $00,000 0 Mike Kingsley 7. PENDING: Land 0 E. Horton, Ferndale $7,000 7 Jeff Johnson. PR. REDUCED: Land Pine Sisken Rd, Blaine $7, M. Kent/J. Johnson. PR. REDUCED: Land 70 Portal Way, Ferndale $99, Mike Kent E

8 LISTING CHANGES, CONTINUED PAGE # STATUS CHG PROPERTY ADDRESS PRICE CBA# AGENT NAME 7. NEW: Comm. Lease 90 Guide Meridian, B ham $0.0/SF NNN 008 M. Kingsley/J. Loeb 7. NEW: Comm. Lease 9 () Guide Meridian, B ham $,00/Mo. NNN 00 M. Kingsley/J. Loeb 7. NEW: Comm. Lease 9 () Guide Meridian, B ham $00/Mo. NNN 007 M. Kingsley/J. Loeb 8. PR. REDUCED: Lease 99 Irongate Rd, Bellingham $0./SF NNN 078 Bill Henshaw 8. NEW: Comm. Lease 90 Kentucky St, Bellingham $0./SF NNN KC Coonc/R. Martin. NEW: Office Lease 0 Guide Meridian, B ham $ /SF Mike Hinkle. NEW: Office Lease 0 Railroad Ave, B ham $89/Month 00 Mike Kingsley. NEW: Office Lease 909 Squalicum Way B0 $.0/SF 89 Mike Hinkle. NEW: Office Lease 909 Squalicum Way B0 $.0/SF 897 Mike Hinkle. NEW: Office Lease 909 Squalicum Way B07 $.0/SF 899 Mike Hinkle. NEW: Office Lease 909 Squalicum Way B7 $8.7/SF 00 Mike Hinkle. PENDING: Retail Lse. Samish Way, Bellingham $-8/SF NNN 870 Mike Hinkle 7. NEW: Retail Lease 87 Sunset Dr, Bellingham $.0/SF NNN 07 KC Coonc/R. Martin 8. NEW: Bus. Opp. Crossroads Grocery, Maple Falls $70,000 X Jeff Hopwood 8. NEW: Bus. Opp. Main St Bar & Grill, Ferndale $0, KC Coonc/R. Martin JEFF HOPWOOD S LISTING FOR SALE IN MAPLE FALLS: Pages 9. & 8. COLOR -CODED PAGES, IN ORDER: Buildings for sale Land for sale W. For BAKERVIEW Lease RD, BELLINGHAM WA 98 (0) Business Opportunities F

9 . BUILDINGS: FOR SALE 70 nd St, Bellingham Package pricing on 0 condo spaces, easy to rent & maintain in right near WWU, Sehome Village, I, and local trails. Premium college loca on with nearly 00% occupancy. This complex features elevators, fitness center, storage, and shu le service to WWU and a city bus line directly in front. Sales Price: $,00,000 CBA# 877 Contact Jason Loeb. 89 Alderson Rd #0, Blaine Terrell Creek This condo is in shell condi on with furnace, electrical panel and restroom completed and installed. Two main entrance doors and a back employee entrance. Part of a mixed use residen al commercial project that was completed in 007. Sales Price: $0,000 CBA# 09 Contact Jeff Johnson. 7 E. Badger Rd, Everson Recently annexed into the city of Lynden. Approx 90 feet of road frontage by approx. 8 dep. Zoned CS and remainder is zoned RM. Currently the property has mul ple rental units, plus seller occupied buildings and home. Sales Price: $79,900 CBA# Contact Karen Timmer. 0 Bakerview Valley Rd, Bellingham New building to be constructed, permits ready to pick up. Building to have maximum flexibility as to finish. Two overhead doors, two mad doors, insulated walls and ceilings, two suspended gas heaters, landscaped with asphalt parking. Sales Price: $,00,000 CBA# 9079 Contact Bill Henshaw. 00 E. Bellis Fair Pkwy, Bellingham 0,000 Big Box opportunity in Bellingham across from Bellis Fair Mall and close to I. Property is in very good condi on and is available for sale or lease. Sales Price: $8,990,000 CBA# 788 Contact Jeff Johnson. 77 Birch Bay Dr, Blaine Excellent commercial loca on situated in front corner of Grand Bay Condominiums directly facing the beach. Professionally designed interior with upscale finishes. Sea ng for 0 indoors and addi onal on beach front pa o. Excellent saltwater and beach vistas. Comprised of two business condominium spaces. Sales Price: $,00 CBA# 0098 Contact Mike Kent

10 . BUILDINGS: FOR SALE, CONTINUED 0 Buchanan Loop, Ferndale Investment grade concrete lt up at metal pricing!,000 SF footprint, parking spaces, clear, x grade level doors,,00+ SF of nice/modern office, remainder in warehouse, excellent access and visibility at I & Grandview Rd, space on I monument and. acres. Sales Price: $,089,000 CBA# 00 Contact Jeff Hopwood. 89 C St, Blaine Mobile Exchange This building must be purchased with the Mobile Exchange business (CBA# 79). The building is set up to provide adequate security for the cash collected and provides entry/exit lock off rooms so that individual can be iden fied prior to entry. Please contact the LA for financial informa on & details. Sales Price: $,000,000 CBA# 79/79 Contact Bill Henshaw. 0 Cedar St, Lynden,00 SF four plex. All units have been recently updated w/new carpets & any needed changes. The exterior was painted in 00. The roof was replaced in 00. All units are single level with off street parking. All this on a dead end street with easy access to town or parks. Sales Price: $09,900 CBA# 9 Contact Mike Vail. 9 Citadel Dr, Everson,000 SF Very nice office/warehouse with a large bedroom apartment and a bedroom apartment. This building is 70% full and next to the Raspberry Ridge Golf Course. High traffic area only minutes from Bellingham. There is also room to build condo units on this property. Sales Price: $,00,000 CBA# 99 Contact Lester Van Mersbergen. 0 Cornwall Ave, Bellingham Beau ful corner lot in downtown with solid long term tenant seeking investor. Located on corner of Cornwall and Holly. Parking garage / block to west for good parking. Great traffic flow & great investment. Sales Price: $89,000 CBA# 9098 Contact Jason Loeb. 0 Cornwall Ave, Bellingham Great opportunity! Beau ful architecture and loca on! This space is occupied by a high quality long term tenant and is located in a high quality building on a very busy street. Parking garage block to the west. Sales Price: $89,000 CBA# 909 Contact Jason Loeb

11 . BUILDINGS: FOR SALE, CONTINUED 0 Cornwall Ave, Bellingham Outstanding retail space in heart of downtown. This property has a great long term tenant & solid history of good tenancy. Beau ful building on very busy and vibrant street in downtown Bellingham. Sales Price: $89,000 CBA# 909 Contact Jason Loeb. 07 Cornwall Ave, Bellingham Total Building SF:,70. Great opportunity to own a very fashionable and stylish retail suite in downtown Bellingham right on Cornwall Ave. This suite features high ceilings & drop direc onal ligh ng and a very modern feel. Great neighboring tenants make this space an outstanding opportunity for a myriad of uses. Sales Price: $79,000 CBA# 9089 Contact Jason Loeb. 09 Cornwall Ave, Bellingham Great opportunity to own prime downtown retail space/office space. This space is devisable and is currently two separate spaces, with great retail exposure on a very busy downtown road. Second story in 09 Cornwall would allow for addi onal expansion. Sales Price: $99,000 CBA# 8877 Contact Jason Loeb. 09 Cornwall Ave, Bellingham Great loca on across the street from Bellingham High / Assump on School. Zoned for office and/or mul family. Use the exis ng building or expand or build new. Many possibili es! Sales Price: $00,000 CBA# 08 Contact Kevin Geraghty. 88 D St, Blaine Northwoods Motel Well located motel in the Blaine CBD just off I at the last off ramp before entering Canada; 9 units (7 are finished, unfinished) and addi onal manager unit. Owner terms with % down. Sales Price: $00,000 CBA# 99 Contact Bill Henshaw. 00 Deemer, Bellingham Excellent Development Opportunity! Single family home rented, plans for lot subdivision have been submi ed to the City of Bellingham & expect to be approved in late June or July, just in me for summer building. All lots over 0K SF, all services available, LID/Latecomers paid. Sales Price: $99,000 CBA# 0809 Contact Jeff Hopwood

12 .... BUILDINGS: FOR SALE, CONTINUED 9 Delta Ring Rd, Ferndale 7, SF of industrial space situated on.8 acres. Includes, SF of office &,00 SF structural mezzanine. Steel construc on slab on grade w/ 7 free span. Fully sprinklered w/ heavy power distributed. 0 eves, separate welding area, plenty of yard space. Air compressor sled out back & power hookups for propane natural gas to bldg. Sales Price: $,9,000 CBA# 08 Contact M. Kingsley/J. Loeb/J. Baker 9 Delta Ring Rd, Ferndale Delta Tech Industrial Park:,80 SF of Flexible Light Industrial condo space. End caps are $,0/Mo. Middle units can be demised down to SF +/. Eaves, ` Peak, designed for nd floor offices/storage/ mezzanine addi onal 800 SF (min.), Roll up Doors, Phase Power, Natural Gas, Fully Insulated, Ample Parking. Owner Financing OAC. Sales Price: $998,000 CBA# 9 Contact J. Baker/M. Kingsley 9 Delta Ring Rd #, Ferndale Delta Tech Industrial Park:,0 SF Light Industrial space. Two. overhead doors, plumbed for bathrooms, gas heat, sprinkled almost new building. This is a condo that could be split into units and sold as. Great investment! Store front, engineered for up/down office, storage, business or man cave possibili es! Sales Price: $09,900 CBA# 0887 Contact M. Kingsley/J. Baker 9 Delta Ring Rd #+, Ferndale Delta Tech Industrial Park:, SF Light Industrial space. Bathroom, gas heat, sprinkled a ton of floor space.. overhead door, store front, parking, heated! Sales Price: $9,900 CBA# 088 Contact M. Kingsley/J. Baker. 0 N. Forest St, Bellingham Great 0,9 SF downtown retail space with off street parking. Currently leased un l 0 with one year renewal op on..% annual escalator. Sales Price: $70,000 CBA# 870 Contact John Templeton. N. Forest St, Bellingham Neat and well kept auto body shop in excellent and desirable downtown loca on. Can be used as auto body shop or converted to a variety of uses.,800 SF of main floor space with small offices and useable basement. Business inventory is available but not included in the asking price. Sales Price: $,000 CBA# 088 Contact J. Johnson/C. Kenoyer

13 .. BUILDINGS: FOR SALE, CONTINUED 0 Grant St, Suite 7 Bellingham Like new Bellingham finished commercial condo. Centrally located to downtown & I. Unit features include foot door & main door + hot/ cold water. Large upstairs w/ high end finishes. Excellent visibility to Grant St. w/ neighboring business show rooms, builders & suppliers. On site parking & on street parking. Owner occupied. Business is not for sale. Sales Price: $97,900 CBA# 0 Contact KC Coonc/R. Mar n Guide Meridian, Bellingham,89 SF Former boat manufacturing complex with many ameni es including cranes. Property can be divided and vacant land sold separately. For sale only. Sales Price: $,0,000 CBA# 7989 Contact J. Johnson./M. Kingsley. 9 Guide Meridian, Bellingham Almost acres of Light Industrial home & shop for current income. Traffic count of over 0,000 vehicles a day in the Bellingham Urban Growth Boundary. Sales Price: $00,000 CBA# 0 Contact Kevin Geraghty. 0 Hammer Unit A0, Bellingham Wricon Commercial Condos brand new, all steel construc on condominium flex space now available. 8 units total from,070 SF to over,00 SF featuring bathrooms in each unit, heater, roll up doors, ceilings. Sales Price: $9,900 CBA# 8 Contact Jason Loeb.. W. Holly St, Bellingham Absolutely prime downtown loca on with over,00 SF of demisable space is ready for a new owner or tenant. located on Holly ST just west of Cornwall in historic downtown Bellingham. Features hdwd floors, great light, offices, 0` + ceilings on the main floor with huge skylights, drama c glass entryway. floors with tremendous street exposure and lots of glass Sales Price: $,99,000 CBA# 987 Contact Jason Loeb 90 Home Rd, Bellingham Commercial building on acres with visibility to I near major retail anchors and airport, many uses possible. Highly visible commercial building on acres with I visibility and adjacent to a highly successful car dealer. Near Fred Meyer and the Airport. Sales Price: $,790,000 CBA# 097 Contact J. Johnson/M. Kent

14 . BUILDINGS: FOR SALE, CONTINUED 00 Lincoln St, Bellingham Southgate Apartments Outstanding opportunity to own unit apartment complex with an extremely low vacancy rate very near to WWU. Build in 000, this complex sits enviably next to the park. Sales Price: $,00,000 CBA# 00 Contact Jason Loeb. W. Magnolia, Bellingham Viking Financial Center: Clean/affordable bank owned offices in Bellingham s vibrant downtown. Con guous offices w/ a shared restroom on same floor. Ind. offices air cond., wired for Internet/phone. Just blocks from courthouse., SF currently vacant with two tenants occupying remaining suites. Sales Price: $0,000 CBA# 0909 Contact KC Coonc/R. Mar n. 7 W. Magnolia, Bellingham Johnson s Flower Shop Prime downtown retail loca on with high visibility. Great corner loca on. W Magnolia and Commercial. Good exposure to street and high volume pedestrian traffic., SF retail space. Sales Price: $,000 CBA# 09 Contact J. Loeb/C. Rinker Main St, Everson Everson Mercan le building on the corner of Main Street across. from the Chamber office and Neiman`s Steak House. This is a wonderful opportunity to have a piece of Everson History and fill this building up with a variety of different tenants. The opportuni es are endless as there is great spaces ready for new business to move in. Restrooms on main level. Sales Price: $9,000 CBA# 9 Contact Karen Timmer. Marine Dr, Dockside Mall Great office/retail spaces located along the marina boardwalk in Blaine. Two commercial buildings: One building is a retail pad which includes 88 SF, the other is the 8,9 SF Dockside Building. For Sale and/or Lease. Located near I, close to the US/Canada border. Sales Price: $0,000 CBA# 77 Bill Henshaw. 0 Mercer Ave, Bellingham,000 SF of excep onal wholesale & office just minutes from I, just outside city limits (No B&O Tax), new HVAC units in `0. phase 77/80 power. Ideal for distribu on, moving & storage, manuf., maintenance facility + more. Owner financing possible or lease opportuni es at $./SF NNN for all or por on. Sales Price: $,7,000 CBA# 00 Contact M. Kent/J. Johnson

15 7. BUILDINGS: FOR SALE, CONTINUED Meridian St, Bellingham Almost acres across the street from Wal Mart & just north of the Costco power center & million square foot regional Bellis Fair Mall. Property has a nice single family house. Traffic count over 0,000 a day. Sales Price: $0,000 CBA# 807 Contact Kevin Geraghty 7. 9 Pacific Place, Ferndale A,000 SF metal warehouse/shop building in excellent condi on situated on 7,70 SF lot in the Pacific Industrial Park. Over 0,000 SF of paved yard. roll up doors to make the building divisible. The western end of building has built out office space, lo area and restroom. Easy access to I and close to Bellingham. Sales Price: $89,000 CBA# 889 Contact E. Po s/j. Johnson 7. Peace Portal, Blaine,000 SF centerpiece building for the Blaine Boardwalk project. floors with commanding views in the best tourist oriented loca on available. Addi onal floors can be added. Sales Price: $9,000 CBA# 0 Contact Mike Kent 7. 0 Peace Portal Way, Blaine Property includes a 7 unit trailer park with a,90 SF strip mall, the "Windmill Building" currently used as a used book store, a building currently used for a towing company with a fenced yard, and acres of vacant land. Sales Price:$,00,000 CBA# 7989 Contact Bill Henshaw 7. 0 Portal Way #0, Ferndale,0 SF Pres ge single office in Crown Court Business Center. Sales Price: $,000 CBA# 09 Contact Bill Henshaw 7. 0 Portal Way #0, Ferndale,0 SF Pres ge single office available in business center. Building built in 009. Ample parking available. Sales Price: $0,000 CBA# 09 Contact Bill Henshaw 7

16 8. BUILDINGS: FOR SALE, CONTINUED 0 Portal Way #0, Ferndale,0 SF Pres ge single office available in business center. Building built in 009. Ample parking available. Sales Price: $,000 CBA# 09 Contact Bill Henshaw 8. Portal Way, Ferndale Up to 0 condominiumized storage units from 90,00 SF with immediate access to I & centrally located in Whatcom Co. ' aisles for big rigs, overhead doors, heated, plumbed, polished slab, sheetrock & insula on, wired, RV dump, security, gated, & drive thru units. Sales Price: $8,000 $ CBA# 8 Contact M. Kent/J. Baker 8. Portal Way #A, Ferndale Pioneer Storage Complex. Loca on is prime with easy I access. Secure & gated, condominium storage units. This is one four unit building,, 00 SF units. Double overhead doors, lots of ligh ng, gas heat, bathroom ready, sheetrocked, painted, trimmed. Gates access. Sales Price: $,000 CBA# 80 Contact J. Baker/M. Kent 8. 8 Portal Way, Ferndale I visibility..0 acres with,79 SF House ( bd/ba); 7,0 SF story barn; two,800 SF equipment storage buildings; 9,000 gallon fire flow tank;,0 SF converted chicken coop; well, natural gas, sep c. Sales Price: $,000 CBA# 997 Contact Gary Medearis Portal Way, Blaine Superior quality storage studios at a great value. Too many ameni es to list. Secured access, high ceilings, insulated, plumbed for restrooms, painted walls, electrical distribu ons, space heater, designed for mezzanine. Delivered in turn key cond. Inside dimensions start at 0X7. Sales Price: $8,000 & up CBA# 9 Contact Jeff Johnson 8. 0 Po er St, Bellingham Great stand alone office building with plenty of off street parking. Close to Downtown Bellingham with high traffic count and a signalized intersec on. Large stand alone sign on the corner of Ellis St. & Po er St. 0 year comp roof installed fall of Sales Price: $79,90 CBA# 7799 Contact Kevin Geraghty

17 9. 9. BUILDINGS: FOR SALE, CONTINUED 0 Railroad Ave, Bellingham 00 SF of offices, recep on area, full bath, kitchen w/ microwave & fridge. Property is right on interurban trail & sits directly across from farmers market. Secured parking & storage. parking space comes with unit. Seller will include another parking space with a full price offer! That`s SECURED PARKING SPACES DOWN TOWN! Sales Price: $7,000 CBA# 00 Contact Mike Kingsley 70 Salashan Loop, Ferndale Remaining,7 SF building is the newest and provides showroom. In addi on the mezzanine provides,000 SF of office and addi onal storage Sales Price: $,900,000 CBA# 8080 Contact J. Johnson/B. Henshaw 9. 9 Semiahmoo Pkwy, Blaine Marin Condominiums 8 completed beau ful high end front row waterfront luxury condominiums + nd 8 unit building framed & ready for drywall & rd 8 unit building founda on in place. Adjacent to Semiahmoo Resort. Over million invested into project. Sold Price: $7,000,000 CBA# 98 M. Kent/J. Johnson Silver Lake Rd, Maple Falls Fabulous Investment Real Estate Opportunity: Res. Apts & Comm. rental spaces anchored by "Crossroads Grocery". Excellent Condi on. Bldg. has new metal roof, new exterior paint, & many other upgrades. Excellent loca on, year round revenue. All records, books, P&L`s are up to date. Sales Price: $78,000 CBA# 00 Contact J. Hopwood/K. Swanson 9. 8 Sound Way, Bellingham 7,700 SF warehouse/office at Bellingham Airport just minutes from I and City of Bellingham. Includes warehouse with ground level roll up door and small office/recep on area at front of building. Ample parking, used previously for storage, distribu on & light manufacturing. Located on Port of Bellingham lease land. Sales Price: $9,000 CBA# 077 Contact Mike Kent Squalicum Way A 07, Bellingham Condo office/retail units W/Mez. Superb loca on close to waterfront, downtown, I and next to park. Security gate (am 0pm) retail storefronts, internet, plumbed for bathrooms. Sales Price: $9,000 CBA# 97 Contact Mike Hinkle 9

18 0. BUILDINGS: FOR SALE, CONTINUED 909 Squalicum Way B 0, Bellingham Condo office/retail units W/Mez. Superb loca on close to waterfront, downtown, I and next to park. Security gate (am 0pm) retail storefronts, internet, plumbed for bathrooms. Sales Price: $,0 CBA# 89 Contact Mike Hinkle Squalicum Way B 0, Bellingham Condo office/retail units W/Mez. Superb loca on close to waterfront, downtown, I and next to park. Security gate (am 0pm) retail storefronts, internet, plumbed for bathrooms. Sales Price: $,0 CBA# 890 Contact Mike Hinkle Squalicum Way B 07, Bellingham Condo office/retail units W/Mez. Superb loca on close to waterfront, downtown, I and next to park. Security gate (am 0pm) retail storefronts, internet, plumbed for bathrooms. Sales Price: $,0 CBA# 890 Contact Mike Hinkle Squalicum Way B 7, Bellingham Condo Warehouse with mezzanine in SUPERB LOCATION near waterfront, I, downtown and next to park. Radiant heat, internet, security gate. Sales Price: $0,000 CBA# 00 Contact Mike Hinkle Squalicum Way B 0, Bellingham Condo Office/WH W/Mez superbly located next to park. Close to waterfront downtown & I. Security gate (am 0pm) internet, radiant heated floors, plumbed for bathrooms, WxH Doors. Suites 9 priced at $0,000 for each unit. Now available for sale. Sales Price: $0,000 CBA# 907 Contact Mike Hinkle Squalicum Way B, Bellingham Condo Office/WH W/Mez superbly located next to park. Close to waterfront downtown & I. Security gate (am 0pm ) internet, radiant heated floors, plumbed for bathrooms, WxH Doors. Suites 9 priced at $0,000 for each unit. Now available for sale. 0 Sales Price: $0,000 CBA# 90 Contact Mike Hinkle

19 . BUILDINGS: FOR SALE, CONTINUED 8 State St, Bellingham Chelsea Lo s Apartments Chelsea Lo s is a to be built apartment complex in a highly desirable loca on close to downtown and WWU. Will feature,0 rentable area across 8 units and a total building size of,. Also SF of rentable commercial space. Sales Price: $,00,000 CBA# 087 Contact J. Loeb/J. Johnson. 0 N State St, Bellingham New commercial condo located in a mixed use building, vacant and new. Located on a busy corner in Bellingham`s CBD. Sales Price: $9,000 CBA# 808 Contact M. Kent/J. Johnson Tull Rd, Bellingham Isabella apartments: two 8 unit, story apt. bldg. on AC. Both bldgs.: elevators, heated hallways, rec rooms & storage lockers. covered parking spots, tons of addi onal parking, playground & dead end street. By Wal Mart, Costco, Whatcom Comm. College. Assum. st mortgage at.% for $.MM. Sales Price: $998,000 CBA# 9 Contact Jason Loeb. 97 Valley Hwy, Acme Diverse mul use property with commercial zoning situated in Acme. Currently on a condi onal use for light assembly work. 00 Amp power, 0 single phase. 0,000 SF (,000SF offices & 7,000SF manufacturing) building with offices, lunch room, restroom, handicap access & ample parking on.8 acres. Sales Price: $0,000 CBA# 8 Contact Bill Henshaw. 90 Victoria Pl, Bellingham Wise Building Ideal small business or warehouse building. All steel construc on in heart of airport area/port Industrial Park. Over,00 Sq. Ft. includes washroom & office space. Building is free standing with access from sides. Sales Price: $0,000 CBA# Contact Mike Kent. Wynn Rd Building A & B, Bellingham Two,0 SF premium concrete block construc on, free span buildings w/ clear height. x rollup doors, two 00 amp, 0 volt, phase panels, skylights, 0 SF of office. Easily demised to,00 SF or,70 SF suites. Lease purchase op on w/ owner financing. Sales Price: $,70,000 CBA# 99 Contact KC Coonc

20 . LAND: FOR SALE 09 nd St, Bellingham Prime level apartment loca on near WWU. This level property zoning allows up to 0 units, located on the corner of Knox and nd. Call Lis ng agent for further details. Sales Price: $7,000 CBA # Contact David Hovde. 0 Aaron Dr, Lynden.9 Acres of Commercial land at $.99/SF. Great value in East Lynden loca on. Street improvements complete and located in an established and developing loca on. Sales Price: $80,000 CBA# 708 Contact Jeff Johnson. 9 Airport Dr, Bellingham 0 Acre site at the I /Bakerview Interchange across the street from the entrance to Bellingham Interna onal Airport. Zoned Gateway many commercial uses allowed. Approx. 7 FT of frontage on Airport Dr and 8 FT frontage on Benne. High traffic counts on both. Sales Price: $888,000 CBA# 78 Contact Kevin Geraghty. XXX Aldrich Rd, Blaine. acres of Residen al zoned land. Par al mountain view. All u li es in street. Bellingham School District. Sales Price: $00,000 CBA# 900 Contact Mike Kent. 0 Alderson Rd, Blaine.0 Acres parcels located in Birch Bay. Excellent opportunity to own high value development land just blocks from BBay`s excellent beaches. Recently configured for up to 7 units, ripe for development with water, sewer, gas, power, etc. in the street and is in the UGA. Zoned URM and General Commercial. Sales Price: $7,000 CBA# Contact M. Kingsley/J. Loeb. 70 Bakerview Rd, Bellingham Planned 9. acre Mul Family development property in popular, high growth area close to shopping, schools and major arterials. City of Bellingham services, previous owner had units approved. Sales Price: $90,000 CBA# 7770 Contact Jeff Johnson

21 . LAND: FOR SALE, CONTINUED 70 8 W. Bakerview Rd, Bellingham Bakerview Springs is an approved Planned Contract for mul family units plus an 8,000 + commercial component. The Planned Contract terms and condi ons are available through the City of Bellingham on request. Property is very close to shopping, grocery, schools and public transporta on. Sales Price: $,00,00 CBA# 9 Contact M. Kingsley/J. Johnson. 80 W. Bakerview Rd, Bellingham Prime corner loca on with roads on sides. Flexible zoning that allows for all types of commercial/industrial uses. Addi onal 700,000 SF of property available for sale con guous to the west. The property is immediately across from Fred Meyer on major high traffic arterial. All u li es in street. Sales Price: $,9,000 CBA # 780 Contact Bill Henshaw. 8 W. Bakerview Rd, Bellingham 9. acres of property zoned gateway commercial. All u li es are in the street. Two addi onal proper es are con guous to the property containing 7. acres. Sales Price: $,00,000 CBA# 07 Contact Bill Henshaw Birch Bay Dr, Birch Bay Includes.88 acres Sea Links Golf Course, Birch Bay Beach Resort 0 development site plus,000 SF retail situated on 9 acres, CJ s Beach House Restaurant, 8. acres abu ng course to the south. Ideally suited for conserva on easement and single home estate site overlooking parcels towards Birch Bay. Sales Price: #,70,000 CBA# 079 Contact Mike Kent.. Birch Bay Lynden Rd, Birch Bay Prime general commercial acre site in the heart of Washington`s fastest growing community as reported in recent census. Strategically located in Birch Bay`s most significant intersec on as iden fied by Birch Bay community plan. Adjacent to Birch Bay fire hall and level ground already cleared and groomed, having fill and grade permit Sales Price: $,80,000 CBA# 090 Contact M. Kent/J. Johnson 0 Birchwood, Bellingham Bug Lake Property located close to St. Joseph hospital has great development poten al with lake frontage. Sales Price: $8,000,000 CBA# 778 Contact Mike Hinkle

22 . LAND: FOR SALE, CONTINUED XXX Blaine Rd, Blaine Ideally located in the path of progress between Blaine and rapidly extending Birch Bay. Water & Sewer in front of property. Adjacent to city limits. Sales Price: $00,000 CBA# 8999 Contact M. Kent/J. Johnson. 78 Blaine Rd, Blaine Estate size property covering 8. beau ful acres. Significant wetlands enhance this natural park like se ng with a acre ideal single family building pad. Great opportunity to own significant acreage in booming Birch Bay. Sales Price: $9,000 CBA# 7 Contact Mike Kent. 900 Blaine Rd, Blaine building lots ready for sewer hook ups June 0. Birch Bay water, Blaine sewer. Four low bank waterfront lots. Perfect for builders, custom and spec homes! Sales Price: $,7,000 CBA# 08 Contact G. Baker/M. Kent. 0 Brown Rd, Ferndale 8.89 Acres, zoned manufacturing. In the path of progress, located near I and Portal Way. Adjacent to Burlington Railroad and near Puget Sound Energy substa on. Sales Price: $,000 CBA# Contact Bill Henshaw. 9 Buchanan Loop, Ferndale Very well located, buildable site in the I Industrial Park. 9.8 Acres, road on two sides of the property, can be divided into smaller parcels. Close to I with easy access to all road systems in Whatcom County. Sales Price: $,000,000 CBA# 08 Contact J. Johnson/M. Kent. 9 Buchanan Loop, Ferndale Excellent I access and visibility, light industrial lot, acres, Geotech available, ready to build. Loca on, price and access make it the best ready to build lot in Whatcom County! There is a,000 SF concrete lt up warehouse office building across the street available for sale as well. Sales Price: $80,0 CBA# 009 Contact Jeff Hopwood

23 . LAND: FOR SALE, CONTINUED 0 Cordata Parkway, Bellingham Two parcels (7 & 8) have view of Mt. Baker. 8,89 SF. Close to Whatcom Community College. From Bakerview take Cordata Parkway to Stuart Rd. Sales Price: $90,000 CBA# 7900 Contact Mike Hinkle. 9 Cornwall Ave, Bellingham 7,00 SF of Prime development property! Lot only abuts one other property with arterial street access on two sides and alley access in back. Preliminary design for unit apartment building with automobile under building parking garage. Property located in the 8 year mul family tax exemp on area. Sales Price: $,70,000 CBA# 89 Contact David Hovde. 00 Deemer Rd, Bellingham lots zoned for up to 0 units. Use the City of Bellingham s in fill tool kit and get crea ve. Late comers fees start to drop off in about a year. Sales Price: $89,90 CBA# Contact Kevin Geraghty. 7 Delta Ring Rd, Ferndale A Planned LI Business Park whose individual owners share a common commitment toward responsible environmental stewardship. Lots range from..0 acres. Community water and sep c (great for tying into city services in the future). Road is improved and u li es are stubbed. Sand soil. Close to refineries. Sales Price: $79, $, CBA# 0 Contact Mike Kingsley. 0 Drayton Harbor, Blaine Looking for totally unobstructed views and a nice flat building lot with city water? Look no further than this acre parcel front Drayton harbor with absolutely unbelievable views. Sales Price: $8,000 CBA# 08 Contact M. Kingsley/J. Loeb. Dupont St, Bellingham Outstanding mixed use lot bordering the le ered streets and Columbia neighborhoods. City has approved design for story mixed use building including residen al units and,700 SF of commercial space. Lot borders Dupont, I and J streets. Variances have been made by the City for setbacks and more. Sales Price: $9,900 CBA# 79 Contact Jason Loeb

24 . LAND: FOR SALE, CONTINUED 0 Grandview Rd, Birch Bay Kickerville Industrial Park Approx. 0.8 acres of light industrial. Level and adjacent to RR spur. Close to Cherry Point (approx. one half mile). LAST LIGHT INDUSTRIAL PROPERTY IN THE AREA. Highly visible corner site. Sales Price: $,00,000 CBA# 009 Contact Cliff Running. Grandview Rd, Ferndale Tremendous investment opportunity! Community is a unit M.H.P. (8 double wide units, single wide units & vacant lots). Upside poten al zoned for 0 units. addi onal lots are permi ed and ready to develop. Private well and sep c. Please view with discre on. Sales Price: $0,000 CBA# 00 Contact Cliff Running. 900 Guide Meridian, Bellingham. acres of light impact industrial zoning property inside of Bellingham s Urban Growth Area. Located near the corner of Guide Meridian and Kelly Rod, the property is currently in the raw. Sales Price: $,000 CBA# 07 Contact KC Coonc/R. Mar n. 80 Guide Meridian Rd, Lynden Prime general commercial site within Lynden city limits at SW edge of town on busy Guide Meridian. High traffic loca on ideally suited for major retailer, business offices, shopping center & much more. Great sandy loam soil. Generous. acre easy to develop site. Sales Price: $,8,970 CBA# 98 Contact Mike Kent. 80 Guide Meridian Rd, Lynden. Ac investment/ development site for variety of uses. High traffic & high visibility site. Former solidly built residence is currently used as offices & is ideal for rental while holding property or use as business enterprise. entrance points. No be er Lynden commerce loca on & level sandy loam soils. Sales Price: $80,000 CBA# 97 Contact Mike Kent. 8 H St, Blaine 88 Acres in East Maple Ridge residen al development site. Zoned UR. approved for units, single family detached, 8 single family a ached +,000 SF of commercial space poten al. Fully permi ed and approved. Ideal loca on. Full package available. Owner financing available! Sales Price: $,990,000 CBA# 9777 Contact Mike Kent

25 7. LAND: FOR SALE, CONTINUED 888 Halvers ck Rd, Sumas Prime Industrial property in Sumas just south of the Canadian Border and the main Hwy trans Canada border crossing. Over acres of fully approved general binding site plan industrial land. Conserva on wetlands and storm reten on already set aside. Sales Price: $,9,90 CBA# 99 Contact Kevin Geraghty 7. Hendrickson Rd, Ferndale. Acres of Mul Family ground in the City of Ferndale. Water and Sewer in street. Good access and plenty of flat ground. Great loca on, close to schools and downtown. Sales Price: $00,000 CBA# 0 Contact Mike Kingsley 7. 0 E. Horton Rd, Bellingham Light Industrial property in excellent loca on. Property is currently in the county but it is being considered for annexa on into the city of Bellingham. Buyer to purchase As Is. Wetland study available. Sales Price: $7,000 CBA# 7 Contact Jeff Johnson 7. 9 Jills Court Ave, Bellingham acre level Light Industrial parcel in Irongate Industrial Park. Drainage is complete and site is par ally graded. Excep onal value in Bellingham city limits. Sales Price: $,,000 CBA# 9709 Contact J. Johnson/E. Po s 7. Jills Court Ave., Bellingham Light Industrial parcel in Bellingham s Irongate Industrial Park. Excellent Value Sales Price: $9,000 CBA# 970 Contact J. Johnson/E. Po s 7. 9 Hovander Rd, Ferndale + Acres, pre y much ready to go, feasibility study all complete, all u li es, level site, near City center of Ferndale, great warehouse or office site. Nice se ng, can build to suit. Sales Price: $79,900 Contact Jeff Baker 7

26 8. LAND: FOR SALE, CONTINUED 70 7 Kickerville Rd, Birch Bay TCCE LLC Property consists of 0.9 acres on Terrell Creek. Property has been approved under Whatcom County s CREP program and is now zoned open space. Terrell Creek is a highly sought conserva on area. Sales Price: $0,000 CBA# 00 Contact Cliff Running 8. 0 LaBounty Rd, Ferndale.9 Acres of Light Industrial land. Parcel sizes are flexible with appropriate price adjustment. All improvements and storm water included in price. Very good access to I and Rail Service is possible. Sales Price: $,900,000 CBA# 0 Contact Jeff Johnson Legoe Ln, Ferndale This plex lot is ready to build, all u li es on property, paved parking is in place, view of Mt. Baker, plans available. Sales Price: $79,000 CBA# 00 Contact David Hovde 8. 0 Lincoln St, Bellingham Acres. Close in city loca on. Preliminary city approval in place for a mixed use development. Property can be sold under a planned contract (0,000 SF minimum). All u li es available to site. Sales Price: $0,00,000 CBA# 787 Contact Bill Henshaw 8. 0 Lincoln Rd, Blaine Strategic corner acreage at Lincoln & Shintaffer Rd where Semiahmoo Pkwy begins. In path of progress and key intersec on for Birch Bay/ Semiahmoo community & neighborhoods. Sales Price: $,000,000 CBA# 07 Contact M. Kent/J. Johnson 8. XXX Lincoln Rd, Blaine Strategic corner acreage at Lincoln & Shintaffer Rd where Semiahmoo Pkwy begins. In path of progress and key intersec on for Birch Bay/ Semiahmoo community. 8 Sales Price: $,000,000 CBA# 8999 Contact Mike Kent

27 9. LAND: FOR SALE, CONTINUED XXX Loomis Trail Rd, Blaine. acres zoned residen al. All u li es available in street. Blaine School District. Sales Price: $00,000 CBA# 900 Contact Mike Kent Main St, Ferndale. Acres in the City of Ferndale with all services to the site (in road). Zoned Residen al/office, this property would support a good sized mul family project as well as many other uses. Surrounded by apartments and offices. Sales Price: $9,000 CBA# 0880 Contact M. Kingsley/J. Loeb 9. 0 Meridian St, Bellingham Approved by city in 00 for 00 Extended Stay Motel Units. Excellent visibility. Traffic counts area at least 8,000 trips per day..9 acre site has access from Meridian St and pedestrian access to Bellis Fair Mall. All permits have been approved. Sales Price: $999,000 CBA# 79 Contact Jason Loeb E. McCloud Rd, Bellingham freeway frontage parcels (. acres and. acres totaling 9. acres) of commercial property in the City of Bellingham. Highly visible! Sales Price: $9,780 MLS# 78 Contact Jeff Baker Mountain View Rd, Ferndale Prime condo development site for 07 units on 8.9 acres approved shovel ready site. Gently sloping sunny southern exposure. Mt Baker & San Juan vistas, ideal high end poten al. All in growing Ferndale where new job announcements steal headlines as BP Cherry Point Refinery, Alcoa & Gateway Shipping Terminal ramp up for expansion plans. Sales Price: $,988,000 CBA# 98 Contact Mike Kent 000 Newkirk Rd, Ferndale Located inside Ferndale City limits with 0` of I frontage. Very visible loca on. Thousands of cars every day. Approximately acre of nice ground, should have li le to no cri cal areas to deal with under today`s regula ons. Freeway access is just over / mile. Sales Price: $9,000 CBA# 988 Contact Mike Kent 9

28 0. LAND: FOR SALE, COTINUED 000 Northwest Rd, Bellingham Large Development tract subject to pending annexa on into Bellingham. Phase I and Phase II environmental done, Interlocal Agreement in place, no wetlands done. URMX 0 units per acre. Sales Price: $7,00,000 CBA# 980 Contact M. Kingsley/J. Johnson 0. 0 Northwest Ave, Bellingham 0.9 Acre High visibility commercial loca on on Northwest Ave w/ exposure from the intersec on of Northwest & W. Bakerview. Jack in the Box is under construc on at the intersec on of W. Bakerview and Northwest. Current access is off Northwest & also off of Home Road. Sales Price: $8,000 CBA# 70 Contact KC Coonc Pacific Hwy, Bellingham. acres of gateway commercial property. All u li es are to the property adjacent. Property is con guous to other proper es totaling.7 acres. Sales Price: $,0,000 CBA# 787 Contact Bill Henshaw 0. 0 Pacific Hwy, Bellingham Level rectangular site containing.7 Acres, zoned planned commercial/industrial. Located in NE quadrant of I and W. Bakerview Rd. The site has some freeway visibility and excellent access in all direc ons. Zoning is exempt from retail size limits. Sales Price: $,00,000 CBA #00 Contact Bill Henshaw Pacific Hwy S., Des Moines Waterview Crossing Approved for in excess or,00 res. units, plus retail, office space. City of Des Moines WANTS this development to move fwd. It will create hundreds of jobs and provide significant opp s for investors worldwide, developer/builders. Incl. tax credit opp s (Prop. Tax Exemp Credits). Sales Price: $8,0,000 CBA #087 Contact Cliff Running 0. 0 Peace Portal Dr, Blaine Excellent light manufacturing site w/ I high visibility frontage. Level ground ideal for a mul tude of uses. minutes from border w/ easy truck & consumer access. W&S hookup fees have been waived by City of Blaine un l 0. Abu ng. acre parcel which can be purchased as well. 0 Sales Price: $7,000 CBA# 00 Contact Mike Kent

29 . LAND: FOR SALE, CONTINUED 0 Peace Portal Dr, Blaine Prime I manufacturing site w/ excellent Interstate Highway North & South bound visibility. Easy truck access via Frontage Rd. Water & sewer hook up fee waived un l 0 by City of Blaine. Abu ng.9 acre parcel to be purchased as well. Very rare opportunity to invest in I exit property only minutes from US/Canada Border. Sales Price: $7,000 CBA# 00 Contact Mike Kent. 7 Peace Portal Dr, Blaine Property overlooks Blaine marina w/ views of harbor. There were exis ng drawings approved by the City for a 9 unit water view condos w/ underground parking, ground floor commercial. Owner is willing to build the building under a separate agreement. Project was permi ed in 00 & should be able to be re submi ed. Sales Price: $9,000 CBA# 088 Contact J. Johnson/M. Kent. Pine Sisken Rd, Blaine Priced to sell! Waterfront home site in pres gious Drayton Hillside sec on of Semiahmoo Resort development. Amazing vistas of Drayton Harbor, Semiahmoo spit & mountains. Private beach access. Sales Price: $7,000 CBA# 8999 Contact Mike Kent. XXX Portal Way, Blaine. acres of residen al land available. Water, electricity and sewer in street. Blaine School District. Sales Price: $7,000 CBA# 9000 Contact Mike Kent. 0 0 Portal Way, Ferndale. Acres Land zoned for office use Site will accommodate 0 units total in buildings Sewer to easterly edge of blacktop. Sales Price: $8,000 CBA# 00 Contact Bill Henshaw. 08 Portal Way, Ferndale This. acre mul family site is ready for high density mul family development in growing Ferndale, with wetland mi ga on completed, and natural gas, power, and sewer in the street adjacent to the property. This property is set well back from Portal way for a very secluded feel but minutes from Ferndale and only ten minutes north of Bellingham with easy access from I. Sales Price: $99,900 CBA# 089 Contact M. Kingsley/ J. Loeb

30 . LAND: FOR SALE, CONTINUED 0 Portal Way, Ferndale Excellent loca on & opportunity for small office building,000,000 SF pending ready building lot. All services, gravel capped, easy to build lot., good exposure, all weather access road. Build to suit. Sales Price: $9,900 MLS# 90 Contact Jeff Baker. 70 Portal Way, Ferndale.8 acres zoned general commercial, wide range of uses, two residences on property. Wetlands recognizance posi ve. Sales Price: $99,000 CBA# 070 Contact Mike Kent Portal Way UNIT B Pad, Blaine A Z Business & Storage Ctr w/ great I access & exposure. One of six property pads. This property is priced with a 7,88 SF including cement and u li es. More units available with sizes ranging from,70 sq.. to 0,00 SF pads & buildings. There is private water, sep c, storm water, gated, video security and so much more. Buildings available as well. Sales Price: $7,00 CBA# 780 Contact Jeff Johnson 80 Portal Way UNIT E Pad, Blaine A Z Business & Storage Ctr w/ great I access & exposure. One of six property pads. This property is priced with a 7,88 SF including cement and u li es. More units available with sizes ranging from,70 sq.. to 0,00 SF pads & buildings. There is private water, sep c, storm water, gated, video security and so much more. Buildings available as well. Sales Price: $9,80 CBA# 78 Contact Jeff Johnson 80 Portal Way UNIT F Pad, Blaine A Z Business & Storage Ctr w/ great I access & exposure. One of six property pads. This property is priced with a 7,88 SF including cement and u li es. More units available with sizes ranging from,70 sq.. to 0,00 SF pads & buildings. There is private water, sep c, storm water, gated, video security and so much more. Buildings available as well. Sales Price: $9,80 CBA# Contact Jeff Johnson 80 Portal Way UNIT G Pad, Blaine A Z Business & Storage Ctr w/ great I access & exposure. One of six property pads. This property is priced with a 7,88 SF including cement and u li es. More units available with sizes ranging from,70 sq.. to 0,00 SF pads & buildings. There is private water, sep c, storm water, gated, video security and so much more. Buildings available as well. Sales Price: $7,0 CBA# 78 Contact Jeff Johnson

31 ... LAND: FOR SALE, CONTINUED 80 Portal Way UNIT H Pad, Blaine A Z Business & Storage Ctr w/ great I access & exposure. One of six property pads. This property is priced with a 7,88 SF including cement and u li es. More units available with sizes ranging from,70 sq.. to 0,00 SF pads & buildings. There is private water, sep c, storm water, gated, video security and so much more. Buildings available as well. Sales Price: $87,0 CBA# 7897 Contact Jeff Johnson 80 Portal Way UNIT J Pad, Blaine A Z Business & Storage Ctr w/ great I access & exposure. One of six property pads. This property is priced with a 7,88 SF including cement and u li es. More units available with sizes ranging from,70 sq.. to 0,00 SF pads & buildings. There is private water, sep c, storm water, gated, video security and so much more. Buildings available as well. Sales Price: $,00 CBA# Contact Jeff Johnson Prince Ave, Bellingham Unique / acre commercial property within a block of the Guide Meridian. Fully serviced and level lot provides outstanding loca on within the Meridian Commercial district. Sales Price: $9,000 CBA# 0779 Contact Kirby Jones. 88 Prince Ave, Bellingham Great Mul Family development site for 8 units with project drawings, eleva ons and site plan already completed. Ideally suited for apartments or condos. Close to Corda a area, shopping and business services. Just off Guide without the noise of the Guide. Less than two blocks to Costco, Walmart and other major employers. Sales Price: $70,000 CBA# 978 Contact Mike Kent.. 9 Rutsatz Rd, Deming.9 Acres off Highway 9. Former gravel quarry that may have more gravel to be harvested. Nice sized shop with () roll up doors. Property for sale is made up of parcels: residen al parcels ( acres each) & a 7.9 acres piece where the gravel pit exists. Great way for a contractor to access gravel with other poten al development parcels. Sales Price: $0,000 CBA# 9978 Contact J. Johnson/E. Po s XXX Semiahmoo Pkwy, Blaine 7. Acres designed to accommodate the demand for moorage at Drayton Harbor. Slips may be sold as fee simple condos. Rare opportunity! Secure moorage. Walking distance to resort hotel & ameni es. U li es in street. Sales Price: $,00,000 CBA# 900 Contact Mike Kent

32 . LAND: FOR SALE, CONTINUED XXX Semiahmoo Pkwy, Blaine PHASE I Excep onal 8 unit project on 9 acres. Wrapped on sides by pris ne inland Pacific waterfront. Irreplaceable loca on. Vistas of Drayton Harbor, Mt Baker, Blaine & White Rock. High quality design, natural se ng. Sales Price: $9,00,000 CBA# 900 Contact Mike Kent. XXX Semiahmoo Pkwy, Blaine Seagrass Phase II. Unmatched vistas of Drayton Harbor, marina, and city of Blaine. Surrounded by nature; walking trails and parks close by. World class loca on. Marina next door. Sales Price: $,70,000 CBA# 900 Contact Mike Kent. 0 Semiahmoo Dr, Blaine West facing waterfront property with mul ple building site opportuni es. Cleared & dry. 0 degrees of waterfront footage on beau ful beaches. Night me views of Vancouver, White Rock & Pt. Roberts. Day me vistas of Inland Pacific, eagles and great blue herons. Sales Price: $,00,000 CBA# 077 Contact M. Kent/J. Johnson.. 0 Semiahmoo Parkway, Blaine Remarkable major development opportunity of + acres of prime inland Pacific waterfront made up of mul ple significant parcels. Included: Seagrass Phases, & zoned mul family for 8+ units, Semiahmoo Marian expansion for 7 boat slips & exis ng buildings and acreage at end of spit. All amongst award winning Semiahmoo Resort Hotel & Spa. Directly across from White Rock, BC. Sales Price: $,000,000 CBA# 098 Contact M. Kent/J. Johnson 000 Semiahmoo Parkway, Blaine Beau ful development acreage at door step to Semiahmoo Spit, Hotel & Resort. Community referred to as "Zone " and site of Semiahmoo Resort Village proposed master plan, "Burnside Village" por on. Poten al retail, mul family or single family residences. Strategically located in heart of Semiahmoo. Sales Price: $,00,000 CBA# 00 Contact M. Kent/J. Johnson. 000 Semiahmoo Parkway, Blaine Beau ful 7. acre development parcel fron ng on pres gious Semiahmoo Parkway. Level and free of wetlands. Loca on, Loca on, Loca on. Minutes to I, Semiahmoo Resort Hotel & Spa, marina, parks etc. In path of progress and approved access point off parkway Sales Price: $,000 CBA# 008 Contact M. Kent/J. Johnson

33 . LAND: FOR SALE, CONTINUED 000 Semiahmoo Pkwy, Blaine. 9 acre lot, an ideal investment. One of the last remaining parcels fron ng Semiahmoo`s Arnold Palmer designed golf course and adjacent to resort, clubhouse w/restaurant, lounge and pro shop. Perfect cross border investment for Canadians. Sales Price: $9,000 CBA# 0 Contact M. Kent/J. Johnson.. 90 Semiahmoo Parkway, Blaine Semiahmoo Resort Village is a PUD proposal covering approximately acres of uplands and addi onal delands on the shoreline of Drayton Harbor at the Northern end of Semiahmoo Spit. Included Burnside Village. A 9. acre site with a commercial area, mul family residen al, community parking, public mini storage and a public park. Sales Price: $9,800,000 CBA# 970 Contact M. Kent/J. Johnson XXXX Shintaffer Rd, Blaine Harbor Farms Inland Pacific housing development located above shores of Drayton Harbor. Ideal investment opportunity on this "bank owned" development. One of the nicest se ng in the Pacific Northwest and located in the path of growing Blaine & Birch Bay communi es. Sales Price: $,99,000 CBA# 078 Contact Mike Kent. 000 Shintaffer Road, Blaine This shy 0 acres is ready to go for a minimum of two homes, or short plat this property for a current maximum of homes. Also, in the very near future, the county council intends to upzone this property to a a zoning, which could possibly allow up to 8 homes. Sales Price: $0,000 CBA# Contact M. Kingsley/J.Loeb. 000 Shintaffer Road, Blaine 0 acre development parcel in prime loca on just minutes from I, US/Canadian Border and services. Level and cleared. Zoned UR or could be great hobby farm or estate sized residence. Next to Semiahmoo Resort with Arnold Palmer designed golf course, saltwater marina and resort hotel and spa within a couple miles. Sales Price: $,000 CBA# 08 Contact M. Kent/J. Johnson. N. State St, Bellingham Great development opportunity overlooking Bellingham Bay. adjacent proper es, with exis ng early 0th century houses con nuously rented, each zoned for duplexes or units combined. Seller has preliminary, approved, design for zero lot line townhouses. Sales Price: $778,000 CBA# 988 Contact Fred Sexton

34 . LAND: FOR SALE, CONTINUED 0 Stonecrop Way, Bellingham The only current ready to build development with views in Bellingham. Currently a planned & prepared development for single family houses but RM0 zoning allows higher density at 0 units/acre. All infrastructure completed: roads, storm water drainage, & u li es. Sales Price: $,00,000 CBA# 987 Contact Fred Sexton Sunset Dr, Bellingham 9,98 SF lot ( parcels) zoned Residen al Mul, with a maximum density of,000 sq per dwelling unit. The property overlooks Squalicum floodplain & the mountains to the north. Abandoned railway grade on north side of property may become future City trail. Sales Price: $90,000 CBA# 7 Contact KC Coonc 7. Telegraph Rd, Bellingham.9 acres of Planned Commercial, located within the City of Bellingham (Neighborhood Plan emphasizes the construc on of Mul family). City services in the street. Excellent proximity to shopping, bus services and restaurants. Sales Price: $,000 CBA #9778 Contact M. Kingsley/J. Loeb 7. Yew St, Bellingham.8 acre parcel with Preliminary Plat Approval for 8 single family detached lots within the city limits of Bellingham. Parcel also appears to have legal lots of record da ng back to 907. Easement for storm and sewer Sales Price: $,000 CBA# 890 M. Kent/J. Johnson

35 7. FOR LEASE: INDUSTRIAL 0 th St, Bellingham, SF of very rare south side industrial warehouse with ample parking and a fenced yard. Very flexible terms. Zoning allows a variety of uses including office. Could be ideal for an open office environment. $0./SF NNN CBA# 979 Contact J. Johnson/E. Po s Delta Ring Rd, Ferndale,80 SQFT of Flexible Light Industrial condo space. End caps are $,0/Mo. Favorable Middle units can be demised down to SQFT +/. Eaves, ` Peak, designed for nd floor offices/storage/mezzanine addi onal 800 SF (min.), Roll up Doors, Phase Power, Natural Gas, Fully Insulated, Ample Parking. Owner Financing OAC. $0.0/SF NNN CBA# 9 Contact J. Baker/M. Kingsley 9 Hannegan Rd, Lynden Office and warehouse available for lease at Hinotes Corner. Mid Whatcom County. Owner will build out to tenants desire. $0.8 $. Gross CBA# 999 Contact Lester VanMersbergen Guide Meridian, Bellingham Gravel pad with direct access to Guide Meridian. Roughly,00 SF. Addi onal acreage is also available if the Lessee wishes to go through the process and bring more gravel on site. Being offered for lease at $0.0/SF NNN. $0.0/SF NNN CBA# 008 Contact M. Kingsley/J. Loeb () Guide Meridian, Bellingham Wood frame over concrete construc on (converted home),9 SF in two stories with a full basement, bathrooms and plenty of ground floor space to run a business. The basement has a concrete ramp from the outside going through double doors. Great dry storage area. Plenty of yard space out back, which is fully fenced. Great parking and highly visible from the Guide. $,00/MO. NNN CBA# 00 Contact M. Kingsley/J. Loeb 9 () Guide Meridian, Bellingham Residen al construc on, slab on grade. bathroom and a small office space. The rest is shop space. 0 SF. $00/MO. NNN CBA# 007 Contact M. Kingsley/J. Loeb 7

36 8. FOR LEASE: INDUSTRIAL, CONTINUED 99 Irongate Rd, Bellingham Prime office loca on with lots of parking. $0./SF NNN CBA# 078 Contact Bill Henshaw Kentucky St, Bellingham Grizzly Industrial Building: Ideal opportunity for tenant that needs large warehouse w/ 7 ceiling height for racking. Move in ready w/ a 0 x office, x lunchroom, restrooms already built out.,8 SF available w/ grade level & dock high doors. Sprinkled, security & fire alarm system built in. Pallet racking system could also be included in lease. $0./SF NNN CBA# Contact KC Coonc/R. Mar n 0 Mercer Ave, Bellingham Vacant warehouse building with heavy power and HVAC system throughout. Ideal for manufacturing or for distribu on storage. The building sits on. acres and is also available for sale. It is possible to subdivide the space but not preferred. $0.8/NNN CBA# 007 Contact M. Kent/J. Johnson 8. Salashan Loop, Ferndale North Ferndale light industrial warehouse/manufacturing freestanding 0 x 0 insulated steel building located just off I exit. Building footprint is 7,00 SF divided as follows: 8 x office (two offices), plus x men`s and women`s ADA baths, that create a upper floor mezzanine of,000 SF. $.8/NNN CBA# 87 Contact KC Coonc A Salashan Pkwy, Ferndale,000 SF Warehouse. Heated and insulated. Steal construc on. grade level ` roll up door. Restroom, 0` ceilings at the eaves. 80/ phase. Easy Truck Access. $./SF NNN CBA# 088 Contact M. Kingsley/J. Johnson B Salashan Pkwy, Ferndale,700 SQFT Warehouse. Heated/AC and Insulated. Grade level ` Roll up door. 0` at the eaves. 08/ phase. Easy Truck access. x office and x8 bathroom. 8 $./SF NNN CBA# 00 Contact M. Kingsley/J. Johnson

37 9. FOR LEASE: INDUSTRIAL, CONTINUED 90 B Salashan Pkwy, Ferndale,00 SQFT Warehouse. Heated and insulated. grade level ` roll up. 0` ceilings at the eaves. 08/ phase/ Steal construc on. Easy Truck Access. $./SF NNN CBA# 098 Contact M. Kingsley/J. Johnson D00 Salashan Pkwy, Ferndale,000 SF Superior office complex with adjoining warehouse conveniently located. Three offices, grade level overhead door into warehouse, washroom area, ample customer parking. $.0/SF NNN CBA# 0 Contact M. Kingsley/J. Johnson D 09 Salashan Pkwy, Ferndale Unique warehouse/distribu on facility available.,00 square feet. $./SF NNN CBA# 077 Contact M. Kingsley/J. Johnson E 00 Salashan Pkwy, Ferndale,00 SF warehouse. dock ramps, 0 FT eaves. Full sprinkler system, gas fired forced air hea ng and fluorescent ligh ng. 80 volt, threephase electrical service. Ample customer parking and truck maneuvering area. $./SF NNN CBA# 0 Contact M. Kingsley/J. Johnson F00 Salashan Pkwy, Ferndale 0,000 SF Great warehouse/distribu on space in the center of Grandview Industrial Park. Pre engineered steel building construc on, with ample customer parking & truck maneuvering area. Adjoining secured outdoor storage. $./SF NNN CBA# 08 Contact M. Kingsley/J. Johnson Salashan Pkwy, Ferndale Unique manufacturing facility with heavy power and bridge cranes. Two dock doors and two grade level loading doors. Ample parking and truck maneuvering area. owner is also licensed broker. $./SF NNN CBA# 09 Contact M. Kingsley/J. Johnson 9

38 0. 0 E. Stuart Rd, Bellingham, SF building presently occupied by State Liquor Store. Space will be available June 0. Building is on the corner of Meridian and Stuart Rd. in front of Wal Mart and across Meridian from Cordata Place Center having major tenants Costco and Best Buy. Building is in great condi on with great visibility and signage. $/SF NNN CBA# 000 Contact John Mitzel 0. Wynn Rd, Buildings A & B, Bellingham Two buildings (,80 SF Total) each,0 SF premium concrete block construc on, free span building w/ clear height. x rollup doors, two 00 amp, 0 volt, phase panels, skylights, 0 SF of office. Easily demised to,00 SF or,70 SF. $.0/SF NNN CBA# 98 Contact KC Coonc 0. Wynn Rd, Building B, Bellingham,0 SF premium concrete block construc on, free span building w/ clear height. x rollup doors, two 00 amp, 0 volt, phase panels, skylights, 0 SF of office. Easily demised to,00 SF or,70 SF suites. Lease purchase op on w/ owner financing. $.0/SF NNN CBA# 90 Contact KC Coonc 0

39 . FOR LEASE: OFFICE 0 nd St, Bellingham Class A office space on second and third floors, Poten ally divisible to approx.,000 Sq Ft, Elevator and stairway access, ADA compliant, Ample parking on site, Near shopping and restaurants, Easy, close access to I north and south, Flexible lease rate and terms, Floor plans can be modified, All High speed wiring in place. $.00/SF NNN CBA# 877 Contact Jeff Johnson nd Ave NW, Ste 00A, Stanwood WA,88 SF GLA center anchored by Ace Hardware. Built in 99, completely renovated in 00, located along 7nd Ave NW.,09 SF available space has unobstructed visibility to 7nd Ave, the only suite with signage facing the main st. ready for occupancy. *LOC Exclusions include exis ng tenants in the shopping center. $.0/SF Gross CBA# 0807 Contact Ryan Mar n 7 Barre Rd, Ferndale I Office and Warehouse Space: Outstanding Office and Warehouse loca on along Interstate. This building offers superior infrastructure for a variety of uses, open spaces and easy access to Bellingham, Canada and greater Whatcom County. $.00/SF NNN CBA# 079 Contact Kirby Jones. 80 Birch Bay Square Offices, Birch Bay Like new professional office building at the intersec on of I & Birch Bay Lynden Rd. Freeway exposure with signage opportuni es. Abundant parking and beau ful lobby entry with elevator. spaces available; one is, SF and the other is,0 SF. $ /SF NNN CBA#808/808 Contact M. Kent/J. Johnson. 9 Cornwall Ave, Bellingham Mt. Baker Professional Building Unit available: rd Floor large office suite with 0 ceilings, 7 SF. Located above the Greenhouse. Busy downtown area. $.0/SF CBA# 090 Contact David Hovde. 9 Cornwall Ave, Bellingham Mt. Baker Professional Building Unit available: Top Floor Bay View Suite. Full Service lease including complimentary limited Janitorial Service, all u li es included, office phone and Internet not included but available. Located above the Greenhouse. Busy downtown area. $7./SF CBA# 09 Contact David Hovde

40 . FOR LEASE: OFFICE, CONTINUED 9 Cornwall Ave, Bellingham Mt. Baker Professional Building Unit available: Downtown Room Office Suite, Mul Tenant op on. Located above the Greenhouse. Busy downtown area. $./SF CBA# 09 Contact David Hovde... 8 W. Horton Rd, Bellingham,00 SF of open floor plan with demising wall to accommodate private offices, large private office, & conference room. Open enough for class room use or call center. This is a very flexible unique space with ample parking and easy access to Guide Meridian or Bakerview. Will lease short term but can accommodate a year tenant. From $,00/SF Gross CBA# 9 Contact KC Coonc W. Magnolia, Bellingham Viking Financial Center: Clean affordable office suites located in Bellingham s vibrant downtown. Nice con guous offices w/ shared restroom on same floor. Individual offices air condi oned, wired for Internet/phones. Blocks from courthouse make this an ideal loca on for an a orney office and other private social services. NNN is es mated at $ $9/SF NNN CBA# 090 Contact KC Coonc/R. Mar n Marine Dr, Blaine View offices and/or retail spaces with ample parking. Many units are located right on the boardwalk. Close to I and the US/Canadian Border. Dockside retail pad = 88 SF, Dockside building = 8,9 for a total of 9,8 SF. $8 /SF NNN CBA# 700 Contact Bill Henshaw. 0 Meridian, Bellingham Office/Retail/WH in great loca on off of Guide Meridian. Dock high doors and grade level door. Heavy on power. Fiber op cs. 7,00sf bay with,000sf of office,,000sf bay, 9,000sf bay and,0sf bay plus approx.,700sf of office. Separate office building of,800 sf. Bays can be leased separately with loading docks. $ /SF NNN CBA# Contact Mike Hinkle. 0 Railroad, Bellingham 00 SF, consis ng of offices, recep on area, full bath, kitchen with microwave & refrigerator. Property is right on the interurban trail & sits directly across from the farmers market. Secured parking & storage. parking space comes w/ unit. Seller will include another parking space with a full price offer! That`s SECURED PARKING SPACES DOWNTOWN! $89/MO. CBA# 00 Contact Mike Kingsley

41 . FOR LEASE: OFFICE, CONTINUED 909 Squalicum Way B 0, Bellingham Condo office/retail units W/Mez. Superb loca on close to waterfront, downtown, I and next to park. Security gate (am 0pm) retail storefronts, internet, plumbed for bathrooms. $.0/SF CBA# 89 Contact Mike Hinkle. 909 Squalicum Way B 0, Bellingham Well located mul tenant Guide Meridian property with solid anchor tenant is now available. The Sleep Country building is an excellent investor opportunity. New year lease with op ons. $.0/SF CBA# 897 Contact Mike Hinkle. 909 Squalicum Way B 07, Bellingham Well located mul tenant Guide Meridian property with solid anchor tenant is now available. The Sleep Country building is an excellent investor opportunity. New year lease with op ons. $.0/SF CBA# 899 Contact Mike Hinkle. 909 Squalicum Way B 7, Bellingham Great loca on close to I and Bellingham waterfront. Next to Squalicum Creek Park. wxh garage doors. Radiant heated floors, high speed internet available. $8.7/SF CBA# 00 Contact Mike Hinkle. 9 Third Ave, Ferndale The space consists of offices, bath, a small lunch area, retail space up front and a small amount of back office space. There are numerous plugs throughout the space. $9/SF CBA# 08 Contact M. Kingsley/J. Loeb

42 . FOR LEASE: RETAIL 0 0th St #0, Bellingham Prime Fairhaven professional office loca on in Bellingham. The space is,7 SF and features two enclosed offices, large conference room, a copy center/server room and restroom. The suite is completely built out with Class A office finishes. $.00/SF NNN CBA# 098 Contact KC Coonc/R. Mar n. 00 E. Bellis Fair Pkwy, Bellingham demised spaces 0,7 SF and,7 SF. The former Joe's space is built out. Adjacent space is in shell condi on. $ /SF NNN CBA# 708 Contact Jeff Johnson. 0 Cornwall Ave, Bellingham Great downtown Space perfect for hair salon; Terrific, well maintained retail space on busy downtown Bellingham street ready for your business. Very a rac ve building near the corner of Holly and Cornwall. This space is,00 square feet and is currently a hair salon. Perfect for a use of that type. $.7/SF NNN CBA# 00 Contact Jason Loeb. 07 Cornwall Ave, Bellingham Prime retail/office space for lease in downtown Bellingham. Space is approximately,0 sf. Conveniently located in historic downtown Bellingham. Building is a mix of office and retail tenants. Property is professionally managed & maintained. $.00/SF NNN CBA#77 Contact Jason Loeb. 09 Cornwall Ave, Bellingham, sf of retail space for lease. Conveniently located in downtown Bellingham on the corner of Cornwall Avenue and Holly Street. Historic building offers character & charm in a unique urban se ng. Building is a mix of office and retail tenants. Professionally managed & maintained. $.0/SF NNN CBA# 7780 Contact Jason Loeb. 8 Front St, Lynden Great opportunity on high visibility frontage: Terrific high visibility space bordering on very busy Front street in Lynden. Get your business started right or relocate to a new high traffic one. $.00/SF NNN CBA# 90 Contact Jason Loeb

43 . FOR LEASE: RETAIL, CONTINUED 0 E. Holly St, Bellingham Historic downtown building in the heart of the CBD, air condi oned, no restaurant use, tenant is responsible for electric, garbage & HVAC. Many spaces avail. On ground floor or remodeled nd floor. Divisible to 0 SF or up to 9,000 SF. Broker par cipa on invited. $.0 8.0/SF Gross CBA# 80 Contact Jeff Johnson.. W. Holly St, Bellingham Absolutely prime downtown loca on with over,00 SF of devisable space is ready for a new owner or tenant. located on Holly ST just west of Cornwall in historic downtown Bellingham. Features hdwd floors, great light, offices, 0` + ceilings on the main floor with huge skylights, drama c glass entryway. floors with tremendous street exposure and lots of glass $.0/SF NNN CBA# 778 Contact Jason Loeb 9 W. Kellogg Rd, Bellingham,000 SF suite, corner unit and has high end finishes suitable for home loan center, credit union, or any business requiring higher end finishes. Located directly across from Best Buy, Costco, & more. High traffic counts & great frontage. All suites finished with A/C & restrooms. $8.70 SF/ Month Mod Gross CBA# 900 Contact Jason Loeb. 7 W. Magnolia St, Bellingham Johnson s Flower Shop Prime downtown retail loca on with high visibility. Great corner loca on. W Magnolia and Commercial. Good exposure to street and high volume pedestrian traffic., SF retail space. $00/MO. NNN CBA# 09 Contact C. Rinker/J. Loeb. #0 Meridian St, Bellingham 9` x ` retail/office suite in a na onally anchored community center with 09,8 GLA. Located at the north end of Bellingham s city limits, Cordata Center is a retail des na on for all of Whatcom County and Canadian Tourism. Contact Lis ng Agent for Rate CBA# 0 Contact R. Mar n/kc Coonc. 80 Meridian St, Bellingham 0 SF of space along the Guide Meridian Corridor. Next to Care Medical and Olive Garden. Huge traffic counts and ample parking. Great for many retail and office uses. Corner unit with tons of windowing. $.00/SF NNN CBA#9978 Contact J. Johnson/E. Po s

44 . FOR LEASE: RETAIL, CONTINUED 8 F Meridian Rd, Bellingham Na onally anchored community ctr w/ 09,8 GLA. Located at the north end of Bellingham s city limits, Cordata Center is a retail des na on for all of Whatcom County and Canadian Tourism. Anchors include Costco, Best Buy, Bed Bath & Beyond, TJ Maxx, and Office Depot. Center is currently over 99% occupied. Contact Lis ng Agent for Rate CBA# 078 Contact KC Coonc/ R. Mar n. Samish Way, Bellingham Old Blockbuster Building,00 SF Retail Space for lease! Prime corner loca on on Samish Way and Bill McDonald Pkwy. High exposure, high traffic area. $ 8/SF NNN CBA# 870 Contact Mike Hinkle. 0 E. Stuart Rd, Bellingham available spaces:,00 SF/, SF/, SF Building is on the corner of Meridian and Stuart Rd. in front of Wal Mart and across Meridian from Cordata Place Center having major tenants Costco and Best Buy. Building is in great condi on with great visibility and signage. $.00/SF NNN CBA#000 Contact John Mitzel. #0 E. Sunset Dr, Bellingham Fantas c opportunity for a growing restaurant to move up to a higher traffic, larger loca on.,90 SF that includes a large closed kitchen with hood, bar, separate ADA Men s and Women s restrooms, dock high delivery access thru shipping corridor at rear of suite. Contact Lis ng Agent for Rate CBA# 9770 Contact KC Coonc/ R. Mar n. F S #0 E. Sunset Dr, Bellingham Located in the heart of Sunset Square this, SF restaurant end cap has of glass frontage that wraps around into the courtyard. There is lots of pedestrian traffic exposure at this loca on that passes through the courtyard of the Square. Great specialty food loca on right next to Sunset Cinemas. Contact Lis ng Agent for Rate CBA# 97 Contact KC Coonc/ R. Mar n. F E. Sunset Dr, Bellingham Huge retail space opportunity! 9,00 SF of retail space situated next El Gitano s Restaurant and Boomer s Sewing Center just steps from Jo Ann Fabrics. 7 plus feet of glass frontage! There is dock high delivery access thru shipping corridor at rear of suite. Can be demised if tenant has smaller space requirements. Contact Lis ng Agent for Rate CBA# 977 Contact KC Coonc/ R. Mar n

45 7. FOR LEASE: RETAIL, CONTINUED F S #0 E. Sunset Dr, Bellingham,09 SF of retail space situated next El Gitano s Restaurant and Boomer s Sewing Center just steps from Jo Ann Fabrics. 7 plus feet of glass frontage! There is dock high delivery access thru shipping corridor at rear of suite. Can be demised if tenant has smaller space requirements. Contact Lis ng Agent for Rate CBA# 970 Contact KC Coonc/ R. Mar n 7. F S #0 E. Sunset Dr, Bellingham,0 SF suite that was used as a hair salon with extensive plumbing along the rear wall of the suite for shampoo sta ons. Located between Round Table Pizza and Xing s Panda Palace this suite is nicely posi oned for many types of tenant uses beyond a salon type use. Contact Lis ng Agent for Rate CBA# 97 Contact KC Coonc/ R. Mar n Sunset Dr, Bellingham Sunset Square Shopping Center: Front row seat on highest traffic count in Bellingham., SF suite located on E Sunset Dr across from Starbucks right off I Exit. Ideal for tenant that needs max exposure. Last use was office/retail, but a non drive thru fast serve restaurant would do well in this loca on. The space is open, vacant, and ready for move in. Contact Lis ng Agent for Rate CBA# 0 Contact KC Coonc/R. Mar n F S # E. Sunset Dr, Bellingham,00 SF retail suite located between Rite Aid and Cost Cu er. Great loca on for a small retailer looking for heavy pedestrian traffic. Contact Lis ng Agent for Rate CBA# 97 Contact KC Coonc/ R. Mar n 7. 9 Third Ave, Ferndale Pioneer Center Building 800+ SF of retail space near downtown Ferndale with plenty of parking spaces out front. Formally a commercial laundry, this suite has plenty of power and plumbing for many different uses. $7/SF CBA# 088 Contact M. Kingsley/J. Loeb 7. 0 Young St, Bellingham Superior downtown office space in an excellent civic core loca on. The building is within walking distance of City Hall, county government offices and the courthouse. Ample parking. Below market rent for qualified tenant. $.0 Gross CBA# 779 Contact Jeff Johnson 7

46 8. BUSINESS OPPORTUNITIES Aldrich Farms Gourmet Foods, Bellingham Gourmet & specialty food manuf./distr. business, award winning products. Trademark protec on, process control le ers, registered with FDA. Fully approved and in compliance manufacturing plant.. acres, includes residence. Business is a going concern, will show significant year over year growth for 0. Sales Price: $9,000 CBA# 87 Contact Steve Mason 8. Crossroads Grocery, Maple Falls Excellent loca on, year round revenue. Live, work and play in a great recrea onal area! All records, books, P&L`s are up to date. New Appraisals on property and business. Sales Price: $70,000 Contact Jeff Hopwood 8. Main St. Bar & Grill, Ferndale This is the perfect opportunity to move from working for someone else building their business, to building a business of your very own. Well established with great staff that are ready for your new ideas to build fun, excitement, and profits! Seller willing to consider par al financing to experienced well qualified operator. Sales Price: $0,000 CBA# 99 Contact KC Coonc/R. Mar n 8. Mobile Exchange Inc., Blaine This business must be purchased with the Mobile Exchange building (CBA# 79). The bus. consists of cash coun ng, currency exchanging & fleet of armored trucks that have a route that averages 00 miles/day extending from BC, Canada to Renton, WA. Please contact the LA for financial informa on & details. Sales Price: $,00,000 CBA#79 Contact Bill Henshaw 8. Pho & More, Bellingham Est. business in highly visible, busy street loca on in Costco shopping mall just North of Bellis Fair Mall, next to Starbucks. Priced less than the cost of the equipment & fixtures all new as of 007. Long me employee can stay on a er sale. Wide variety of menu items for customers. Good customer reviews on social media sites. Sales Price: $00,000 CBA#877 Contact Kevin Geraghty 8