th avenue west. lynnwood, wa

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1 PRIME DEVELOPMENT SITE AVAILABLE CBre PRESENTS th avenue west lynnwood, wa

2 CBre Exclusive Agents CBRE has been retained as the exclusive advisor and broker on behalf of the owners. All communications, inquiries and requests should be addressed to the CBRE team listed below. The owner of the property should not be contacted directly. :: Art Wahl :: Anne Marie Koehler :: Austin Cohn CBRE, Inc Fifth Avenue Suite 1700 Seattle, WA phone fax

3 Table of Contents 01 :: Property Profile Affiliated Business Disclosure and Confidentiality Agreement...4 Offering Highlights :: The Market Lynnwood, WA Overview...6 Aerial Map :: Property Summary Retail Corridor Map... 8 Building photos...9

4 th avenue west :: lynnwood Affiliated Business Disclosure and Confidentiality Agreement CBRE, Inc. operates within a global family of companies with many subsidiaries and/or related entities (each an Affiliate ) engaging in a broad range of commercial real estate businesses including, but not limited to, brokerage services, property and facilities management, valuation, investment fund management and development. At times different Affiliates may represent various clients with competing interests in the same transaction. For example, this Memorandum may be received by our Affiliates, including CBRE Investors, Inc. or Trammell Crow Company. Those, or other, Affiliates may express an interest in the property described in this Memorandum (the Property ) may submit an offer to purchase the Property and may be the successful bidder for the Property. You hereby acknowledge that possibility and agree that neither CBRE, Inc. nor any involved Affiliate will have any obligation to disclose to you the involvement of any Affiliate in the sale or purchase of the Property. In all instances, however, CBRE, Inc. will act in the best interest of the client(s) it represents in the transaction described in this Memorandum and will not act in concert with or otherwise conduct its business in a way that benefits any Affiliate to the detriment of any other offeror or prospective offeror, but rather will conduct its business in a manner consistent with the law and any fiduciary duties owed to the client(s) it represents in the transaction described in this Memorandum. This is a confidential Memorandum intended solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Property. This Memorandum contains selected information pertaining to the Property and does not purport to be a representation of the state of affairs of the Property or the owner of the Property (the Owner ), to be allinclusive or to contain all or part of the information which prospective investors may require to evaluate a purchase of real property. All financial projections and information are provided for general reference purposes only and are based on assumptions relating to the general economy, market conditions, competition and other factors beyond the control of the Owner and CBRE, Inc. Therefore, all projections, assumptions and other information provided and made herein are subject to material variation. All references to acreages, square footages, and other measurements are approximations. Additional information and an opportunity to inspect the Property will be made available to interested and qualified prospective purchasers. In this Memorandum, certain documents, including leases and other materials, are described in summary form. These summaries do not purport to be complete nor necessarily accurate descriptions of the full agreements referenced. Interested parties are expected to review all such summaries and other documents of whatever nature independently and not rely on the contents of this Memorandum in any manner. Neither the Owner or CBRE, Inc, nor any of their respective directors, officers, Affiliates or representatives make any representation or warranty, expressed or implied, as to the accuracy or completeness of this Memorandum or any of its contents, and no legal commitment or obligation shall arise by reason of your receipt of this Memorandum or use of its contents; and you are to rely solely on your investigations and inspections of the Property in evaluating a possible purchase of the real property. The Owner expressly reserved the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or to terminate discussions with any entity at any time with or without notice which may arise as a result of review of this Memorandum. The Owner shall have no legal commitment or obligation to any entity reviewing this Memorandum or making an offer to purchase the Property unless and until written agreement(s) for the purchase of the Property have been fully executed, delivered and approved by the Owner and any conditions to the Owner s obligations therein have been satisfied or waived CBRE, Inc. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. The CBRE logo is a service mark of CBRE and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners. Photos herein are the property of their respective owners and use of these images without the express written consent of the owner is prohibited. ht

5 Offering Highlights PRICE $9,000,000 SITE AREA 174,675 SF (4.01 acres) The Offering Property Description CBRE Inc, as exclusive agent for the owner, is pleased to offer the opportunity to purchase 4.01 acres (The Property) located at th Avenue West in Lynnwood, Washington. Located approximately 2 miles south of the Alderwood Mall, the property houses a 63,960 square foot McDonald s Fine Furniture with signage visible from I-5 and cross easement parking. Property Identification Owner of Record th Ave W Lynnwood, WA Blazen LLC Tax Parcel Site Size Property Rights Appraisal Zoning FAR acres Fee simple estate General Commercial Permitted Height The northern portion of the building features 35,000 square feet of showroom space with 18 foot ceilings. The southern half of the space includes 28,000 square feet of industrial warehouse space with ceiling heights ranging from 42 to 45 feet. The roof of the building offers a state of the art drainage system designed to combat the Pacific Northwest s inclement weather. Stories 5-13 stories Property profile 5

6 Lynnwood wa overview Lynnwood, Washington is located on Interstate 5, 15 miles north of Seattle and 14 miles south of Everett making it a highly desirable location for businesses and residents. Population Lynnwood is the financial capital of south Snohomish County and which has helped contribute to a 10% increase in population in the past decade. The population growth is estimated to increase at an annual rate of 1.25% through 2020 and the proposed City Center project may increase the population at a substantially higher rate than previously calculated. The average age of the nearly 37,000 people living within the 7.8 mile boundary of Lynnwood is 38 years old. The median household income of $57,023 includes average home prices approaching $280,000. Attractions The main attraction in Lynnwood is the Alderwood Mall owned by General Growth Properties. The 1.3 million SF Alderwood Mall is anchored by Nordstrom, Macy s, REI and a 16 screen AMC theatre with IMAX. The American Girl Company recently selected Alderwood as their first and only location in Washington State and the Costco anchored Lynnwood Crossing will feature up to 1.3 million SF of retail, residential, office and hotel space. Demographics (2010 Est.) 3 Mile 5 Mile 10 Mile Trade Area Population 113, , , ,852 Average Household Income $72,918 $79,623 $82,894 $83,787 Total Employment 41,627 94, ,060 Education The Edmonds School District, located approximately 12 miles north of Seattle, is the largest school district in south Snohomish County and serves the municipalities of Brier, Edmonds, Lynnwood, Mountlake Terrace and Woodway. The District covers approximately 36 square miles, consists of 31 schools and boasts a total enrollment of 20,350 students. The School District employs over 2,000 people, making it one of the largest employers in the City of Lynnwood. City Center In 2005 The City of Lynnwood adopted a 20 year plan to create an urban center of 9.1 million square feet of office, retail and housing. Of which, 6.6 million SF will be new construction. The goal for the City Center is to provide urban housing, enhanced retail opportunities and employment in a pedestrian oriented environment. The Lynnwood City Center will eventually include mixed use buildings, parks, plazas making this a destination for residents, visitors and employers alike. The Market 6

7 CITY CENTER Map The subject site is located adjacent to the Lynnwood Transit Center, which accommodates over 225,000 passengers per month and features 1,328 parking spaces. The Lynnwood Transit Center will be home to the future Link Light Rail Station expected to be completed by The Link Light Rail is a Sound Transit shuttle which eventually will connect Lynnwood to the University of Washington District, Downtown Seattle and SeaTac Airport. The property has been designated as a future Transit Oriented Development (TOD) site to coincide with Lynnwood s planned City Center project. The City Center Plan will have 9.1 million square feet of office, retail and housing, encompassing 300 acres of land bounded to the north by 194th, east and south by I-5 and west by 48th Avenue West (as shown). The Market 7

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9 view from Main entrance facing west View from I-5 View facing I-5 and Park & Ride view of Loading dock

10 CBRE, Inc Fifth Avenue Suite 1700 Seattle, WA main fax ww.cbre.com/annemarie.koehler