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Shopping Community

Burien Town Square

540 SW 152nd St, Burien, WA 98166

Listing Price: $8,660,000

Cap Rate
5.72%
Gross SF
20,132
Rentable SF
20,132
Price/Gross SF
$430.16
Lot Size
1.50 acres
Year Built
2008

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the fully occupied Burien Town Square Commercial investment property. The offering encompasses the entire 20,132 SF ground floor commercial suites and dedicated parking level. The tenant roster is comprised of a prominent mix of retail and medical uses perfectly suited to service the rapidly growing Downtown Burien market, just south of the City of Seattle. Built in 2009, Burien Town Square is a very high quality and well designed building located in the heart of the Downtown core. The property is perfectly situated to capitalize on the heavy customer foot traffic from major new developments, proximity to transit, nearby Seattle-Tacoma International Airport and the easy access to the areas major highways. With an average remaining lease term of nearly 7 years, this offering will provide the savvy long-term investor with a high quality, stable and predictable income stream for years to come. In addition to the tenant stability, the passive triple-net lease structure combined with annual rental increases offers an excellent hedge against inflation. With an irreplaceable core location in a growth market, the investor will also benefit from the future rental upside upon lease renewals.

Investment Highlights

  • STRONG TENANT-MIX The property enjoys a very diverse and healthy tenant mix. BECU retail bank serves as a strong corner anchor and medical tenants account for nearly half of the overall income stream.
  • SURROUNDING NEW DEVELOPMENTS Kinect at Burien is one of many projects that are underway near Burien Town Square, which will add an additional 230 multifamily units within walking distance of Burien To
  • ANNUAL RENTAL INCREASES Seven of the eight tenant's have leases that include 2.5% -3% annual rental increases. BECU has 12% increases every 5 years.
  • LONG TERM LEASES The average remaining lease term is nearly 7 years ensuring longevity and stability and limiting cost exposure for leasing and tenant improvement.
  • SIGNIFICANT RENTAL UPSIDE With current rental trends, the new Owner can forecast approximately 15-30% rental upside upon lease renewals.
  • CONVENIENT ACCESS TO TRANSIT The Burien Transit Center is within walking distance of the property providing riders access to 12 bus routes servicing over 4,000 riders per day.
  • HIGH TRAFFIC COUNTS & VISIBILITY The central core downtown location is easily accessed from SR 509 and SR 518 to 1st Ave. S. with an aggregate 118,000 Vehicles Per Day (VPD).
  • EXCELLENT DEMOGRAPHICS Burien is a dense Seattle adjacent market with approximately 94,000 residents within a 3 mile radius with an average household income of over $99,000.

Exclusively Listed By

Financing By

Shopping Community

Burien Town Square

Listing Price: $8,660,000

Cap Rate
5.72%
Gross SF
20,132
Rentable SF
20,132
Price/Gross SF
$430.16
Lot Size
1.50 acres
Year Built
2008

Investment Highlights

  • STRONG TENANT-MIX The property enjoys a very diverse and healthy tenant mix. BECU retail bank serves as a strong corner anchor and medical tenants account for nearly half of the overall income stream.
  • SURROUNDING NEW DEVELOPMENTS Kinect at Burien is one of many projects that are underway near Burien Town Square, which will add an additional 230 multifamily units within walking distance of Burien To
  • ANNUAL RENTAL INCREASES Seven of the eight tenant's have leases that include 2.5% -3% annual rental increases. BECU has 12% increases every 5 years.
  • LONG TERM LEASES The average remaining lease term is nearly 7 years ensuring longevity and stability and limiting cost exposure for leasing and tenant improvement.
  • SIGNIFICANT RENTAL UPSIDE With current rental trends, the new Owner can forecast approximately 15-30% rental upside upon lease renewals.
  • CONVENIENT ACCESS TO TRANSIT The Burien Transit Center is within walking distance of the property providing riders access to 12 bus routes servicing over 4,000 riders per day.
  • HIGH TRAFFIC COUNTS & VISIBILITY The central core downtown location is easily accessed from SR 509 and SR 518 to 1st Ave. S. with an aggregate 118,000 Vehicles Per Day (VPD).
  • EXCELLENT DEMOGRAPHICS Burien is a dense Seattle adjacent market with approximately 94,000 residents within a 3 mile radius with an average household income of over $99,000.

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the fully occupied Burien Town Square Commercial investment property. The offering encompasses the entire 20,132 SF ground floor commercial suites and dedicated parking level. The tenant roster is comprised of a prominent mix of retail and medical uses perfectly suited to service the rapidly growing Downtown Burien market, just south of the City of Seattle. Built in 2009, Burien Town Square is a very high quality and well designed building located in the heart of the Downtown core. The property is perfectly situated to capitalize on the heavy customer foot traffic from major new developments, proximity to transit, nearby Seattle-Tacoma International Airport and the easy access to the areas major highways. With an average remaining lease term of nearly 7 years, this offering will provide the savvy long-term investor with a high quality, stable and predictable income stream for years to come. In addition to the tenant stability, the passive triple-net lease structure combined with annual rental increases offers an excellent hedge against inflation. With an irreplaceable core location in a growth market, the investor will also benefit from the future rental upside upon lease renewals.

Exclusively Listed By

Financing By

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