Office

Martin Way East Plaza

8640 Martin Way E, Lacey, WA 98516

Listing Price: $5,000,000

Cap Rate
6.57%
Gross SF
18,027
Rentable SF
18,027
Price/Gross SF
$277.36
Lot Size
1.31 acres
Year Built
2008

Investment Overview

The Stren Lea Group at Marcus & Millichap is pleased to exclusively offer for sale Martin Way East Plaza (the
Subject Property), a fully leased, multi-tenant retail & office asset in Lacey, Washington. Built in two phases
(2005 & 2008), the Subject Property consists of two structures, a one-story strip that totals 9,497 rentable
square feet and a two-story office building that totals 8,520 rentable square feet (18,027 total). The structures
sit on a single tax parcel that covers 1.31 acres of land. Eleven commercial tenants call the Subject Property
home, and every tenant is on a triple-net lease, paying their pro rata share of the annual operating expenses.
The current tenant base offers an investor diversification through a range of uses from service-based retail
to real estate & financial services, as well as offers strong historical occupancy with 64% of the tenants
occupying the premises for at least 5 years.
Situated on the heavily trafficked Martin Way East in the area of Lacey called Hawks Prairie, the Subject
Property benefits from convenient access to I-5 and about 17,000 vehicles pass the Subject on a daily basis.
Tenants and customers of Martin Way East Plaza benefit from a signalized intersection and ample parking.
Martin Way East is the main arterial running east-west through the city of Lacey and connects the eastern
region of Thurston County to its epicenter, downtown Olympia. The intersection of Martin Way East and
Marvin Road Northeast is less than a mile away from the Subject and plays hosts to a plethora of national
and regional retailers, including Costco Wholesale, Home Depot, and Safeway. The Subject offers tenants
an affordable renting option to the expensive alternatives close by while still providing a professionally
maintained, high quality tenant atmosphere. Incoming investors will enjoy stabilized cash flow and rental
upside as the surrounding area continues to grow and produce increased demand.

Investment Highlights

  • High Quality 2005 & 2008 Construction
  • Fully Leased With NNN Leases
  • Strong Historical Occupancy In Current Tenant Base
  • High Visibility Location With Frontage On Martin Way East
  • Expansive Residential & Industrial Development in Submarket In Recent Years

Exclusively Listed By

Financing By

Listing Price: $5,000,000

Cap Rate
6.57%
Gross SF
18,027
Rentable SF
18,027
Price/Gross SF
$277.36
Lot Size
1.31 acres
Year Built
2008

Investment Highlights

  • High Quality 2005 & 2008 Construction
  • Fully Leased With NNN Leases
  • Strong Historical Occupancy In Current Tenant Base
  • High Visibility Location With Frontage On Martin Way East
  • Expansive Residential & Industrial Development in Submarket In Recent Years

Investment Overview

The Stren Lea Group at Marcus & Millichap is pleased to exclusively offer for sale Martin Way East Plaza (the
Subject Property), a fully leased, multi-tenant retail & office asset in Lacey, Washington. Built in two phases
(2005 & 2008), the Subject Property consists of two structures, a one-story strip that totals 9,497 rentable
square feet and a two-story office building that totals 8,520 rentable square feet (18,027 total). The structures
sit on a single tax parcel that covers 1.31 acres of land. Eleven commercial tenants call the Subject Property
home, and every tenant is on a triple-net lease, paying their pro rata share of the annual operating expenses.
The current tenant base offers an investor diversification through a range of uses from service-based retail
to real estate & financial services, as well as offers strong historical occupancy with 64% of the tenants
occupying the premises for at least 5 years.
Situated on the heavily trafficked Martin Way East in the area of Lacey called Hawks Prairie, the Subject
Property benefits from convenient access to I-5 and about 17,000 vehicles pass the Subject on a daily basis.
Tenants and customers of Martin Way East Plaza benefit from a signalized intersection and ample parking.
Martin Way East is the main arterial running east-west through the city of Lacey and connects the eastern
region of Thurston County to its epicenter, downtown Olympia. The intersection of Martin Way East and
Marvin Road Northeast is less than a mile away from the Subject and plays hosts to a plethora of national
and regional retailers, including Costco Wholesale, Home Depot, and Safeway. The Subject offers tenants
an affordable renting option to the expensive alternatives close by while still providing a professionally
maintained, high quality tenant atmosphere. Incoming investors will enjoy stabilized cash flow and rental
upside as the surrounding area continues to grow and produce increased demand.

Exclusively Listed By

Financing By

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