shaw road building 1103 Shaw Road East Puyallup, WA 98372 investment offering presented by ernie velton and rob knowles jr. 425.455.0500 erniev@jshproperties.com robk@jshproperties.com www.jshproperties.com 10655 N.E. 4TH STREET, SUITE 901 BELLEVUE WA 98004
TABLE OF CONTENTS Investment Highlights & Executive Summary... 3 Summary of Puyallup & Site Demographics... 4 Regional Map and Aerial... 5 Local Map and Aerial... 6 Building Plans...7/8 Terms of Offering... 9 Legal Description...10
INVESTMENT HIGHLIGHTS & EXECUTIVE SUMMARY Executive Summary Price: $ 1,015,000 Building: $133/psf Land: $17/psf Total Rentable Area: Office building 7,616 sf Land Size: Land area: 1.36 Acres or 59,241 SF Zoning: Commercial Investment Highlights Excellent owner user opportunity. Owner can occupy the whole building or keep existing tenant who is occupying 3,708 SF of the North portion and would like to stay. Convenient to South Hill Mall, S.R. 167 and downtown Sumner. - S.R. 167: 2 miles - Downtown Sumner: 2 miles - South Hill Mall: 4 miles Address: 1103 Shaw Road, Puyallup, WA 98372 Year Built: North portion of the building was built in 1972 and renovated in 2002. South portion was added in 2002 Type of Construction: Wood framed construction HVAC: 4 heat pumps Parking ratio: 4.0 spaces per 1,000 SF (30 spaces) Bank owned. 3
SUMMARY OF PUYALLUP & DEMOGRAPHICS OF SITE Vibrant, diversified community: Puyallup is a city in Pierce County, Washington about five miles east of Tacoma. Puyallup s economy in the downtown, South Hill, and Tacoma/ Pierce County shopping districts has been rapidly growing with traditional industry transitioning to become more diversified. Puyallup s South Hill is one of the fastest growing areas of Pierce County and the region. The area is well known for its strong quality of life, great schools and safe neighborhoods. South Hill has seen a dramatic increase in retail, housing and business over the past ten years, making it a magnet for young families. DEMOGRAPHICS OF SITE 1 MILE 3 MILE 5 MILE POPULATION 6,679 57,937 144,510 AVERAGE INCOME $80,902 $70,481 $76,886 DAYTIME POPULATION 1,791 34,662 55,121 South Hill is situated between the southern city limits of Puyallup to the Graham area. It is home to Thun Field Airport, many public golf courses, an excellent county library, an amphitheater, and numerous parks and play fields. Puyallup covers an area of approximately 11 square miles and has a population of 35,690. Puyallup is known as The Land of Daffodils, and was incorporated on August 19, 1890 by well-known pioneer Ezra Meeker. The name Puyallup comes from the local Puyallup Indians and means The Land of Generous People. Puyallup is also the home of the Western Washington Fair, which has been held each fall since 1900. The fair is ranked the sixth largest in the country, with over one million visitors attending each year. Agriculture has been an economic mainstay of the Puyallup Valley for more than 100 years. From the first Saturday in May through the first Saturday in September, farm-fresh items are sold directly to the public at the Puyallup Main Street Farmers Market. Puyallup is also noted for its production of daffodils, and the annual Daffodil Parade and Festival is an acclaimed event. The last decade of the 20th century saw rapid growth in the community s residential, commercial and industrial sectors. The excitement, energy and conveniences of modern development have occurred while Puyallup has maintained the best aspects of its rural heritage and quality of life. ERNIE VELTON ROB KNOWELS JR. 425.455.0500 4
REGIONAL MAP AND AERIAL EVERETT NORTH SEATTLE BELLEVUE TACOMA PUYALLUP OLYMPIA 5
LOCAL MAP AND AERIAL NORTH SITE SHAW ROAD 6
BUILDING PLAN: NORTH BUILDING 3,708 SF CURRENTLY OCCUPIED 7
BUILDING PLAN: SOUTH BUILDING 3,953 SF TOTAL 1,993 SF 1,960 SF 8
TERMS OF OFFERING Terms of Offering (Disclaimer): This property is offered on an as-is basis. Legal documents and reports summarized in this Offering Memorandum are not intended to be comprehensive statements of the terms or contents of such documents and reports. Although the Seller and JSH Properties, Inc. believe the information to be accurate, no warranty or representation is made as to its accuracy or completeness. Interested parties should conduct independent investigation and reach conclusions without reliance on materials herein. The Seller reserves the right, for any or no reason, to withdraw the property from the market. The Seller has no obligation, express or implied, to accept any offer. Further, the Seller has no obligation to sell the property unless and until the Seller executes and delivers a signed contract of sale on terms acceptable to the Seller, in its sole discretion. By submitting an offer, the offeror will be deemed to have acknowledged the foregoing and agreed to release the Seller from any liability with respect thereto. The material contained in the Offering Memorandum is confidential, furnished solely for the purpose of considering the purchase of the property described herein and is not to be copied and/or used for any other purpose, or made available to any other person without the express written consent of JSH Properties, Inc. or the Seller. This memorandum is delivered under the terms and conditions of a Confidentiality Agreement, which has been executed by the recipient as Reviewer. All terms and conditions of the Confidentiality Agreement apply to information contained herein, as appropriate. Offers should be delivered to the offices of JSH Properties, Inc. To facilitate analysis of offers, offerors are encouraged to provide information relative to funding sources, experience in owning and operating similar properties, familiarity with the market, and any other information which is likely to favorably reflect on the offerors ability to close this proposed transaction in a timely manner. Inquiries and offers are to be directed to the Exclusive Listing Agent at the address and phone numbers listed below. Tours of the Property should be arranged through Ernie Velton at the address below. Buyer agrees not to contact tenants at any time except as part of due diligence pursuant to an executed purchase and sale agreement. The Seller reserves the right to accept an offer at any time. ERNIE VELTON ROB KNOWELS JR. 425.455.0500 9
LEGAL DESCRIPTION Legal description- LOT 1, PIERCE COUNTY SHORT PLAT NO. 9303010321, ACCORDING TO MAP RECORDED ON MARCH 1, 1993, IN PIERCE COUNTY, WASHINGTON. Tax Parcel 0420355018, Pierce County 10