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Warehouse

Arlington Airport Industrial

17310 51st Ave NE, Arlington, WA 98223

Listing Price: $15,750,000

Cap Rate
3.92%
Gross SF
88,725
Price/Gross SF
$177.51
Lot Size
6.85 acres
Year Built
1995
Rentable SF
88,725

Investment Overview

We are pleased to present the exclusive sale offering for the premier industrial investment asset located at 17310 51st Avenue NE in Arlington, WA. The property is perfectly located with convenient access to I-5 and in direct proximity to the port of Everett, Seattle, Tacoma, and the Canadian border. The 88,725 SF versatile concrete-tilt building features multiple dock-high and grade level loading doors with a 24-foot clear height. The nearly 7-acre site provides ample outdoor storage and commercial transport maneuverability. The property is currently leased to a well-established and highly successful military contractor tenant. The prominent location directly across from the brand new 2,800,000 SF Amazon Fulfillment Center and directly adjacent to the Arlington Municipal Airport perfectly positions the future investor to capitalize on the exciting and exponential growth of the Arlington market. This outstanding investment will offer the savvy long term investor strong immediate cash f low and the clear opportunity to capitalize on the much higher future rents already established in the immediate trade area.

Investment Highlights

  • Significant Rental Upside: The in-place lease provides the future investor with approximately 125% rental upside in Year 3 in a market that has experienced average annual rent growth of 6.75% .
  • High Volume Loading Capacity: The building is enabled for high loading with 17 total loading docks encompassed by 9-dock-high and 8 grade level loading doors.
  • Major Nearby Developments: The Arlington industrial market gained over 615,000 SF of new inventory in 2022. The property is directly adjacent to a brand new 300,000 SF Amazon Fulfillment Center.
  • Potential Expansion: The site provides for an immediate expansionary opportunity on the west side of the building and is situated on a nearly 7-acre site, which allows for ample outdoor storage and truck loading.
  • Low Vacancy Sub Market: Demand has continued to outpace rapid gains in new inventory as the market vacancy factor has remained compressed close to 4%. This is exemplified by an average lead time of less than 2 months to fill a vacancy, with the majority of product being pre-leased.
  • Favorable Leasehold Terms: The leasehold interest structure is very favorable to the future investor with rental increases capped at 10% every 5 years. The lessor is the City of Arlington.
  • Passive Lease Structure: The in-place lease features very passive NNN language that includes reimbursement of all costs related to the land lease with the City of Arlington. This provides the future investor with stable and predictable, which also entails highly attractive 6% (approximately) annual rental increases adjusted monthly.
  • Tremendous Access: The property is located with convenient access to I-5 and in direct proximity to the port of Everett, Seattle, Tacoma, and the Canadian border by ground.

Exclusively Listed By

Warehouse

Arlington Airport Industrial

Listing Price: $15,750,000

Cap Rate
3.92%
Gross SF
88,725
Price/Gross SF
$177.51
Lot Size
6.85 acres
Year Built
1995
Rentable SF
88,725

Investment Highlights

  • Significant Rental Upside: The in-place lease provides the future investor with approximately 125% rental upside in Year 3 in a market that has experienced average annual rent growth of 6.75% .
  • High Volume Loading Capacity: The building is enabled for high loading with 17 total loading docks encompassed by 9-dock-high and 8 grade level loading doors.
  • Major Nearby Developments: The Arlington industrial market gained over 615,000 SF of new inventory in 2022. The property is directly adjacent to a brand new 300,000 SF Amazon Fulfillment Center.
  • Potential Expansion: The site provides for an immediate expansionary opportunity on the west side of the building and is situated on a nearly 7-acre site, which allows for ample outdoor storage and truck loading.
  • Low Vacancy Sub Market: Demand has continued to outpace rapid gains in new inventory as the market vacancy factor has remained compressed close to 4%. This is exemplified by an average lead time of less than 2 months to fill a vacancy, with the majority of product being pre-leased.
  • Favorable Leasehold Terms: The leasehold interest structure is very favorable to the future investor with rental increases capped at 10% every 5 years. The lessor is the City of Arlington.
  • Passive Lease Structure: The in-place lease features very passive NNN language that includes reimbursement of all costs related to the land lease with the City of Arlington. This provides the future investor with stable and predictable, which also entails highly attractive 6% (approximately) annual rental increases adjusted monthly.
  • Tremendous Access: The property is located with convenient access to I-5 and in direct proximity to the port of Everett, Seattle, Tacoma, and the Canadian border by ground.

Investment Overview

We are pleased to present the exclusive sale offering for the premier industrial investment asset located at 17310 51st Avenue NE in Arlington, WA. The property is perfectly located with convenient access to I-5 and in direct proximity to the port of Everett, Seattle, Tacoma, and the Canadian border. The 88,725 SF versatile concrete-tilt building features multiple dock-high and grade level loading doors with a 24-foot clear height. The nearly 7-acre site provides ample outdoor storage and commercial transport maneuverability. The property is currently leased to a well-established and highly successful military contractor tenant. The prominent location directly across from the brand new 2,800,000 SF Amazon Fulfillment Center and directly adjacent to the Arlington Municipal Airport perfectly positions the future investor to capitalize on the exciting and exponential growth of the Arlington market. This outstanding investment will offer the savvy long term investor strong immediate cash f low and the clear opportunity to capitalize on the much higher future rents already established in the immediate trade area.

Exclusively Listed By

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