Investment Overview

Marcus & Millichap is pleased to offer for sale the Irongate Industrial Building, a 24,580 square-foot warehouse located in the Irongate Neighborhood northeast of downtown Bellingham, WA. The property was built in 1996, received a small expansion in 2007, and has remained well-maintained throughout ownership. The Property is home to a single local tenant intending to sign a lease at closing for the duration of three years, allowing a for an owner-user to take occupancy after expiration or to lease to a new tenant. The property is a prime fit for manufacturing, distribution, and light-industrial use as it provides clear span space and 16% office square footage. Located just two miles from Interstate-5, the Irongate Neighborhood serves a large majority of the industrial users of the Bellingham area and contributes to the 99% occupancy status of the North-Whatcom County market. The industrial supply in Bellingham underserves users looking for 15,000 to 30,000 SF despite the need for manufacturing and distribution capability on a larger scale, offering future leasing upside to a new investor. Tenants and users benefit from nearby import and export capability through the Port of Bellingham, Interstate-5, and a sub-one-hour drive to the US-Canada border.