Riverstone Marketplace II - PDF Free Download

Riverstone Marketplace II VANCOUVER, WASHINGTON

EXCELLENT SYNERGY WITH SEVERAL NATIONAL BRANDS INCLUDING NATURAL GROCERS, BANK OF AMERICA, AND PROVIDENCE MEDICAL PLAZA

Overview Riverstone Marketplace II 3205 & 3215 SE 192ND AVENUE, VANCOUVER, WA 98683

PAGE 5 Investment Summary LEASEABLE SF 14,623 SF LAND AREA 75,359 SF AVG CURRENT RENTS $29.03/SF OCCUPANCY 64% YEAR BUILT 2005 PARKING 83 Spaces; 5.7/1,000 SF SHADOW ANCHORS Providence (NAP), Natural Grocers (NAP) $4,310,000 PRICE 5.50% CAP IN-PLACE 9.00% BUILD-TO CAP RIVERSTONE MARKETPLACE II is within the same development as Natural Grocers and a Providence Medical Plaza along a well-trafficked retail corridor. The Property offers two, high quality retail strips with considerable upside potential. The professional and personal service tenant mix at Riverstone Marketplace II is complemented by the strong daily needs draw created by the adjacent Natural Grocers and QFC. The growing and affluent submarket of East Vancouver is only five miles from the Portland International Airport and comprises the bulk of Vancouver s growth and development. Overview

Investment Highlights TWO AVAILABLE SUITES PROVIDE A POTENTIAL INVESTOR WITH MORE THAN 300 BASIS POINTS OF YIELD UPSIDE AFTER LEASE UP COSTS The highlights ALL TENANTS AT THE PROPERTY HAVE SCHEDULED RENT INCREASES OF 3% ANNUALLY. A LARGE OFFICE COMPLEX AND THE DAILY-NEEDS CORRIDOR INCLUDING NATURAL GROCERS AND QFC ENHANCE STRONG TRAFFIC COUNTS ALONG THE GROWING RETAIL AND SERVICE AREA OFF OF HIGHWAY 14. EXCELLENT SYNERGY WITH SEVERAL NATIONAL BRANDS INCLUDING NATURAL GROCERS, BANK OF AMERICA, PROVIDENCE MEDICAL PLAZA AND AN ADJACENT QFC ANCHORED CENTER.

PAGE 7 THE AFFLUENT SUBMARKET RECOGNIZES SOME OF THE HIGHEST HOUSEHOLD INCOMES IN THE REGION AT NEARLY $110,000 ANNUALLY WITHIN A FIVE-MINUTE DRIVE TIME. TWO SEPARATELY PARCELED RETAIL STRIPS PROVIDE AN OPPORTUNITY TO SPIN OFF INDEPENDENTLY FOLLOWING LEASE UP. IN ONE OF THE FASTEST GROWING COUNTIES IN THE STATE, THE PROPERTY ALREADY SHOWCASES A TRADE AREA OF MORE THAN 200,000 RESIDENTS. Investment Highlights

Site RIVERSTONE MARKETPLACE II

PAGE 9 SE 34TH STREET 11,734 VPD 18,674 VPD SE 192ND AVENUE Site

Surrounding Retail Business summary TOTAL 1-MILE 3-MILES 5-MILES Businesses 206 1,570 5,535 Employees 5,189 23,539 83,272 Population 10,896 63,933 176,248 KEY 1-MILE 3-MILES 5-MILES MAJOR RETAIL AT&T Big Lots Bank of America Costco Wholesale Columbia Credit Union MILL PLAIN CROSSING Chase Bank Cricket Wireless Discount Tire H&R Block Fred Meyer Les Schwab Natural Grocers New Seasons Market Providence Health SHOPPING CENTER Home Depot JC Penney Key Bank Lowe s QFC Starbucks Wells Fargo Petsmart Sally Beauty Verizon Wireless Walmart Supercenter COLUMBIA CROSSING Bed Bath & Beyond Cost Plus World Market Kohl s SHOPPING CENTER Mattress Firm Michaels Pier 1 Imports Ross Dress for Less ULTA Beauty

COLUMBIA CROSSING SHOPPING CENTER MILL PLAIN CROSSING SHOPPING CENTER COLUMBIA TECH CENTER SE 192ND AVENUE 18,674 VPD 11,734 VPD SE 34TH STREET RIVERSTONE MARKETPLACE II 14 84,000 VPD LEWIS AND CLARK HWY DEVELOPMENT NEWS: Along 192nd Avenue, in close proximity to the Property, Columbia Palisades lifestyle community with 84 acres of residential, office, retail, hospitality and entertainment is currently in development. Click here for details. 14 Surrounding Retail

Site Plan 14,623 LEASEABLE SF 18,674 VPD SE 192ND AVENUE 1.73 ACRES SE 34TH STREET 11,734 VPD 83 SPACES; 5.7/1,000 SF

PAGE 13 AVAILABLE AVAILABLE SITE PLAN NOT TO SCALE Site Plan

Featured Photography

PAGE 15 Featured Photography

Financial Summary IN-PLACE STABILIZED PRICE $4,310,000 $4,310,000 PLUS: LEASING COSTS $245,000 TOTAL INVESTMENT $4,555,000 CAPITALIZATION RATE 5.50% 9.00% OCCUPANCY 64% 100% PRICE PER FOOT $295 $311 CASH FLOW SUMMARY IN-PLACE STABILIZED SCHEDULED INCOME PER SF 1 Base Rent for the Period of: 1/1/2019-12/31/2019 $30.02 $273,437 $438,955 Rent Increases Over Base Rent $0.06 $916 $916 Operating Expense Reimbursement $7.85 $79,103 $114,812 Equals: Scheduled Gross Income $37.93 $353,456 $554,682 Current Proforma Vacancy 36% 5% ($1.90) ($27,734) Total Effective Gross Income (EGI) $36.04 $353,456 $526,948 OPERATING EXPENSES PER SF 1 CAMS $4.01 $58,584 $58,584 Property Taxes $2.24 $32,728 $32,728 Insurance $0.32 $4,742 $4,742 Management Fee 2 3.5% of EGI $1.28 $18,757 $18,757 Reserves $0.10 $1,462 $1,462 Total Operating Expenses $7.95 $116,274 $116,274 NET OPERATING INCOME $28.08 $237,182 $410,674 LEASING COSTS Tenant Improvement Allowance $30 SF $159,000 CAMs on Vacancy 1 Year $36,000 Leasing Commission 6% 5 Years $50,000 TOTAL LEASING COSTS $245,000 NOTES: 1) Based on stabilized occupancy. 2) Percentage based on Stabilized EGI. This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

PAGE 17 Rent roll TO ACCESS THE FULL FINANCIAL SUMMARY INCLUDING RENT ROLL, PLEASE EXECUTE THIS FORM. Financial Summary

Comparable Rents 1 4 2 3 SE 192ND AVENUE 5 14 LEWIS AND CLARK HWY SE 34TH STREET RIVERSTONE MARKETPLACE II 6 14

PAGE 19 RIVERSTONE MARKETPLACE II exhibits base rents in line with surrounding properties in the market. With growth and development continuing to push east, the Property continues to recognize new leasing opportunities as the corridor continues to develop. Retail Rent Comps 1. MILL PLAIN RETAIL CENTER 11909 SE Mill Plain Road RENT: $29-$42/SF NNN YEAR BUILT: 2016 2. CROSSROADS AT MILL PLAIN & 164TH 902 SE 164th Avenue RENT: $25-$32/SF NNN YEAR BUILT: 2013 3. STARBUCKS STRIP 918 SE 164th Avenue RENT: $32-$38/SF NNN YEAR BUILT: 2014 4. FISHERS LANDING PLAZA 16415 SE 15th Avenue RENT: $19-$25/SF NNN YEAR BUILT: 2008 5. 192ND PLAZA STATION 1905 SE 192nd Avenue RENT: $27-$35/SF NNN YEAR BUILT: 2012 6. NATURAL GROCERS 3317 SE 192nd Avenue RENT: $28/SF NNN YEAR BUILT: 2017 Comparable Rents

Questions & Answers

PAGE 21 Q & A Q: HAVE THERE BEEN ANY ENVIRONMENTAL STUDIES DONE AT THE PROPERTY? A: Yes, a Phase I site assessment was done in 2005, prior to construction and returned no evidence of any recognized environmental condition (REC) and issued a conclusion that no further action was necessary. Q: DO ANY TENANTS REPORT SALES? A: No tenants at Riverstone Marketplace II are required to furnish sales reports. Q: IS THERE ANYTHING CUMBERSOME IN THE CC&R S? A: No, the CC&R s provide easements for vehicle and pedestrian access over and across the entryway, driveways and sidewalks. There is also a nonexclusive easement in place for parking over and across all parcels except the grocery parcel. Questions & Answers

Location Vancouver, Washington VANCOUVER is the fourth largest city in Washington state and is situated on the southernmost border, alongside the Columbia River. The affordability of Vancouver in relation to Portland just across the river is a huge driving factor of the economy, and has prompted annual growth for the last ten years with a near record-low unemployment rate, making it the fastest-growing county in the Portland Metro area. CLARK COUNTY ADDS JOBS AT TORRID PACE Vancouver added 8,200 jobs to their workforce in 2017, an over 5% increase over the last 12 months. The increase in jobs is well above the national rate and double what the strong Portland metro area recognized over the same period. To learn more, click here.

Multi-family Development PAGE 23 TAX INCENTIVES ARE FUELING MULTI-FAMILY DEVELOPMENT as Clark County is recognizing an influx of multi-family development projects after offering tax incentives to developers. The significant increase in multi-family development will provide much needed units to combat a 2% vacancy rate in Vancouver, among the lowest in the country. To learn more, click here. VANCOUVER S HISTORIC WATERFRONT will soon be home to jobs, restaurants, shops, housing, a hotel and a park as the Major Development new development reconnects 35 acres along the Columbia River to the city s historic core. The project includes a maximum of 3,300 residential units, approximately 1 million square feet of office, and retail space for restaurants, specialty shops and services. Learn more here. Home Depot Expansion Home Depot will be expanding their corporate presence in Vancouver with a 45,000 square foot facility that will house their new Quote Center. The expansion will add more than 200 jobs and will be part of the new 22-acre Convene development which will have up to 400,000 SF of office and retail. To learn more, click here.

Demographics KEY 5 MINS 10 MINS 15 MINS Distance to Seattle, Washington Portland, Oregon 129 166 MILES 2 HRS 34 41 MINS 163 13 MILES 325 HRS MINS 22 MINS

PAGE 25 Drive time POPULATION 5 MINS 10 MINS 15 MINS 2010 20,060 71,178 191,437 2018 23,699 80,672 216,500 2023 25,996 86,862 233,088 2018 HH INCOME 5 MINS 10 MINS 15 MINS Average $107,320 $105,609 $87,757 Median $83,913 $79,957 $64,617 459,495 CLARK COUNTY POPULATION (ESTIMATED) Demographics

We d love to hear from you. MICHAEL HORWITZ mhorwitz@capitalpacific.com PH: 503.675.8381 KEVIN ADATTO kadatto@capitalpacific.com PH: 503.675.7726 SCOTT FRANK sfrank@capitalpacific.com PH: 503.675.8383 The information in this Executive Summary has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. All rights reserved to Capital Pacific, LLC. Contact Us