DOWNTOWN RENTON CORE DEVELOPMENT

Transcription

1 DOWNTOWN RENTON CORE DEVELOPMENT S 3RD ST, RENTON, WA CONTACT INFORMATION: MICHAEL TODD PRINCIPAL / BROKER mtodd@westlakeassociates.com MATHEW QUACKENBUSH BROKER quack@westlakeassociates.com PETER HIATT PRINCIPAL DESIGNATED BROKER peterhiatt@westlakeassociates.com

2 OFFERING SUMMARY WESTLAKE ASSOCIATES, INC. IS PLEASED TO PRESENT 15,000 SQFT, MOSTLY VACANT, LAND LOCATED IN THE HEART OF RENTON FOR SALE. This property is ideal for Owner User or Land Bank. Assemblage potential next door at 201 S 1st Street. Renton provides ample development potential. Renton CA (Commercial Arterial) Zoning provides a broad range of retail sales, services, and other commercial activities in a high traffic area. Residential use is allowed in mixed-use, pedestrian oriented development. The property is located across the street from Safeway, and is close to other retail tenants; McLendons, Fred Meyer and Firestone Tires. Price: $750,000 Price Per NRSF: $49.98 Lot Size: 0.34 Acres Owner User/Development Opportunity blocks from downtown Renton. Chance to purchase a large plot of land in this growing Seattle/Bellevue sub-market, just outside of the newly approved Renton revitalization plan. This plan was approved in 2018 and designed specifically to attract new business and development to downtown Renton. ADDRESS S 3rd St, Renton, WA PROPERTY HIGHLIGHTS 15,007 SQFT LOT SIZE MOSTLY VACANT HIGH VISIBILITY ASSEMBLAGE POSSIBLE CA ZONING

3 PROPERTY DETAILS SALE PRICE $750, LOCATION INFORMATION Building Name Downtown Renton core development Street Address S 3rd St City, State, Zip Renton, WA County/Township King Market Renton Submarket South King County Cross Streets S 3rd St & Rainier Ave S PROPERTY DETAILS Property Type Land Property Subtype Retail-Pad Zoning CA Lot Size 15,007 SF APN# , Traffic Count Street S 3rd St & Rainier Ave S LAND Number Of Lots 2 Best Use Development

4 CA ZONING INFO

5 DOWN TOWN RENTON REVITALIZATION RENTON REVITALIZATION PLAN

6 PROPERTY PHOTOS

7 Renton, WA LOCATION MAPS

8 SALE COMPS SUBJECT PROPERTY 1 FRED MEYER PAD 2 WHITWORTH DEVELOPMENT SITE S 3rd St Renton, WA Rainier Ave S Renton, WA Whitowrth Ave S Renton, WA SALE PRICE $750,000 UNITS YEAR BUILT SALE DATE 12/27/2016 SALE PRICE $1,100,000 UNITS YEAR BUILT SALE DATE 04/29/2016 SALE PRICE $420,000 UNITS YEAR BUILT PRICE/UNIT PRICE/SF - $49.98 PRICE/UNIT PRICE/SF - $61.11 PRICE/UNIT PRICE/SF - $ S 3RD ST & 221 MORRIS AVE S 4 BOEING RENTON CENTER HARDIE AVE SW 422 S 3rd St renton, WA Rainier Ave S renton, WA Hardie Ave SW Renton, WA SALE DATE 03/13/2016 SALE PRICE $1,100,000 UNITS SALE DATE 04/06/2016 SALE PRICE $1,650,000 UNITS SALE DATE 05/19/2016 SALE PRICE $1,498,000 UNITS YEAR BUILT YEAR BUILT 1980 YEAR BUILT PRICE/UNIT PRICE/SF - $45.87 PRICE/UNIT PRICE/SF - - PRICE/UNIT PRICE/SF - $39.99

9 RENTON RENTON NESTLED AT THE SOUTHEASTERN tip of Lake Washington lies the city of Renton. The mighty Cedar River runs through the heart of the city and many locations in the city offer breath-taking views of Mt. Rainier and the Cascade and Olympic mountain ranges. Renton is easily reached by the Interstate 405 and is in close proximity to downtown Seattle, SeaTac Airport, and the Eastside. A free shuttle bus system transports workers and visitors around town. Renton has maintained a hometown feel throughout the years despite its amazing growth. Starting its life as a coal-mining town, Renton has developed into an industrial power. Boeing and PACCAR have been the economic engines for many years, but because of the diversification of the Northwest s economic landscape, Renton is evolving into a city that offers quite a bit. No longer simply an industrial town, Renton has seen sweeping changes beginning in the mid-1900 s. Many new employers have flocked to this lakefront town including IKEA, Wal-Mart and many local businesses. The city of Renton, the Greater Renton Chamber of Commerce and the Downtown Renton Association have all developed a cooperative vision for a lovely, upgraded downtown core. Renton also boasts an active art community with theater productions and a symphony orchestra. There are more than 30 parks scattered along the river basin, lake and neighboring cities. Many homeowners are taking advantage of the lower-than-average real estate prices, making Renton one of the best areas on the West Coast to invest in a new home. 7 MILES SEATAC AIRPORT 11 MILES DOWNTOWN SEATTLE IKEA RESTAURANT JIMI HENDRIX MEMORIAL GENE COULON MEMORIAL BEACH PARK WESTLAKE ASSOCIATES, INC.

10 BROKER BIO & CONTACT 1 MATHEW QUACKENBUSH Broker PROFESSIONAL BACKGROUND Mathew began his career as a research assistant at Westlake Associates, Inc. in the summer of Upon earning his Bachelor s Degree from University of the Pacific, Mathew returned to Seattle where he joined the Westlake team as a Broker in the fall of Mathew specializes in assisting his clients with the acquisition and sale of commercial investment properties throughout King and Snohomish counties. His attention to detail and committed work ethic make him an asset to anyone he works with. As a Seattle native, Mathew has an extensive knowledge of in-city and territory neighborhood markets Westlake Ave N, Suite 310 Seattle, WA T quack@westlakeassociates.com

11 BROKER BIO & CONTACT 2 MICHAEL TODD Principal / Broker PROFESSIONAL BACKGROUND Mike has developed, owned and managed property in Seattle and beyond since He comes from a long line of family investors and developers, and he has a passion for properties that contribute to the integrity of neighborhoods and local communities. Mike specializes in Investment Properties, Land Development and Commercial Leasing. EDUCATION University of Colorado, Boulder 1200 Westlake Ave N, Suite 310 Seattle, WA T C mtodd@westlakeassociates.com

12 BROKER BIO & CONTACT 3 PETER HIA HIATTT PROFESSIONAL BA BACK CKGROUND GROUND Principal Designated Broker Peter is Westlake Associates designated broker. He has taken a well-rounded approach to his education and career, earning degrees in architecture, engineering and building construction management and then working in many different aspects of commercial real estate. With his experience in sales, leasing, development and construction, and commercial property ownership, Peter understands the development process as well as the ownership and asset management portion of the business. EDUCA EDUCATION TION B.S.Engineering Purdue University 1972 Masters of Architecture University of Washington 1981 B.S, Building Construction Management - University of Washington Westlake Ave N, Suite 310 Seattle, WA T peterhiatt@westlakeassociates.com