Snoqualmie Ridge Phase III Snoqualmie Ridge Phase III
Snoqualmie Ridge Phase III Snoqualmie Ridge Phase III
Snoqualmie Ridge Phase III Snoqualmie Ridge Phase III
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For Sale > RETAIL Investment Opportunity<strong>Snoqualmie</strong> <strong>Ridge</strong> <strong>Phase</strong> <strong>III</strong>Investment HighlightsCaptive Trade Area<strong>Snoqualmie</strong> <strong>Ridge</strong> <strong>Phase</strong> <strong>III</strong> is located in the heart of the<strong>Snoqualmie</strong> <strong>Ridge</strong> Town Center just off of the only highwayserving the <strong>Snoqualmie</strong> <strong>Ridge</strong> community. The 116,845square-foot Town Center is anchored by IGA Grocery andcontains a mix of national, regional, and local retailers andservice-oriented users. The Town Center will continueto be the retail center of choice for the entire <strong>Snoqualmie</strong><strong>Ridge</strong> community for the foreseeable future.100 % LeasedThe offering is 100% leased with high historical occupancyrate. This level of occupancy is a testament to the locationand quality of the asset.Rental IncreasesSix of the nine leases contain rental increases within theinitial lease terms. These six tenants comprise 75% of theincome stream, providing contracted rental growth.High Income Trade AreaThe center is located in the affluent community of<strong>Snoqualmie</strong> <strong>Ridge</strong> with average household incomes inexcess of $103,000.Exceptional CommunityThe <strong>Snoqualmie</strong> <strong>Ridge</strong> Master Planned Community is built toa superior standard with high-quality homes, well-designedlandscapes, numerous parks, and exceptional street appeal.Community covenants ensure that this quality will continueinto the foreseeable future. <strong>Snoqualmie</strong> <strong>Ridge</strong> <strong>Phase</strong><strong>III</strong> is located in the center of the region’s new housingdevelopments and is conveniently located within walkingdistance of over 412 households.High Growth Market<strong>Snoqualmie</strong> is the fastest growing city in Washington State.The population of the <strong>Snoqualmie</strong> <strong>Ridge</strong> community hasgrown by 15% over the decade ending 2010 and is projectedto increase by 9.9% through 2015. Due to the successof the master planned community at <strong>Snoqualmie</strong> <strong>Ridge</strong>,the second phase is currently under construction with1,850 additional homes (1,009 homes already completed)providing continued residential growth to the area.Excellent Access & Visibility<strong>Snoqualmie</strong> <strong>Ridge</strong> <strong>Phase</strong> <strong>III</strong> benefits from a solid locationwith great visibility along Center Boulevard in the heartof the <strong>Snoqualmie</strong> <strong>Ridge</strong> Town Center which connects to<strong>Snoqualmie</strong> <strong>Ridge</strong> Parkway (Hwy. 18), the only arterialthrough <strong>Snoqualmie</strong> <strong>Ridge</strong>.Pride of Ownership and Quality Construction<strong>Snoqualmie</strong> <strong>Ridge</strong> <strong>Phase</strong> <strong>III</strong> is owned by its original developerand was built to an exceptionally high standard. Pride ofownership is evident through its impressive construction,landscaping, maintenance, and curb appeal.
GATEWAYPLAZA<strong>Snoqualmie</strong> Valley YMCA(opened 1/1/2012)SNOQUALMIE RIDGEPHASE <strong>III</strong>SNOQUALMIE RIDGETOWN CENTERIGAGrocerySNOQUALMIE RIDGEBUSINESS PARK<strong>Snoqualmie</strong> Parkway (Hwy. 18)
For Sale > RETAIL Investment Opportunity<strong>Snoqualmie</strong> <strong>Ridge</strong> <strong>Phase</strong> <strong>III</strong>Property DescriptionAddress:7708 - 7724 Center Blvd SE<strong>Snoqualmie</strong>, WA 98065Year Built: 2005Land SF:60,739 SFTotal Rentable Space: 16,583 SFCounty:King CountyParcel Numbers: 7851970010, 7851970020Suite Tenant SFA Snoqualmmie <strong>Ridge</strong> Veterinary 1,720C Brunello’s Italian 1,235D DMW Martial Arts 2,418F Great Clips 957G Hot Yoga 1,222H Seattle Sun Tan 1,210I Casade Dance Academy 1,453J <strong>Snoqualmie</strong> Valley Eye Care 1,440L <strong>Snoqualmie</strong> <strong>Ridge</strong> Medical Center 4,928Totals 16,583
For Sale > RETAIL Investment Investment Opportunity Opportunity<strong>Snoqualmie</strong> <strong>Ridge</strong> <strong>Phase</strong> <strong>III</strong>7708 – 7724 Center Boulevard SE, <strong>Snoqualmie</strong>, WAFinancialsNet Operating Income: $415,817Price: $6,000,000Cap Rate: 7%Building SF: 16,583In-Place Assumable Loan*Principal Balance**: $3,281,895Interest Rate: 5.561%Maturity Date: 2/1/ 2015* In-place loan must be assumed.** Approximate balance as of March 2013.Average Household Income1 mile: $ 103,2433 mile: $ 97,7405 mile: $ 97,311This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressedor implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of theinformation. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising therefrom. Colliers International is a worldwide affiliation of independently owned and operated companies. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2012.All rights reserved.Paul SleethSenior Vice President+1 206 223 1266paul.sleeth@colliers.comBilly SleethVice President+1 206 654 0522billy.sleeth@colliers.comColliers International601 Union St., Suite 5300Seattle, WA 98101www.colliers.com
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