woodgate center - loopnet · woodgate center provides an opportunity to acquire a roughly 47,000...

WOODINVILLE, WASHINGTON

Woodgate Center

CONFIDENTIALITY AGREEMENT FOR FULL EXECUTIVE SUMMARY, CLICK HERE.

RARE FOUR-PLUS ACRE CLOSE IN EASTSIDE LOCATION WITHIN SEATTLE MSA

Woodgate Center13300 NE 175TH STREET, WOODINVILLE, WA 98072

Overview

WOODGATE CENTER provides an opportunity to acquire a roughly 47,000 SF retail center on over four acres in one of the region’s highest demographic areas with future possibilities offering multiple redevelopment scenarios. The Property offers a flexible current income that can be quickly improved for short or mid term cash flow, flexible zoning, and offers versatility in timing and planning for numerous development options. This Woodinville location is on the main east-west commercial arterial in the downtown core which has experienced unparalleled growth over the last 25 years and remains one of the regions most sought after suburban locations.

LEASEABLE SF46,759 SF

LAND AREA184,773 SF

ZONINGCBD; Pedestrian DesignDistrict Overlay Zone

YEAR BUILT1968-1991

PARKING249 Spaces; 5.3/1,000 SF

Investment Summary

Best OfferPRICE

4.24ACRES

PAGE 5

Overview

■ RARE FOUR-PLUS ACRES IN THE DOWNTOWN WOODINVILLE CORE ON A FLAT TOPOGRAPHY AND A RELATIVELY SQUARE LOT.

■ IMMEDIATE DEVELOPMENT OPPORTUNITY ON THE NORTH PORTION OF THE PROPERTY ALLOWS FOR PHASED DEVELOPMENT WITH FLEXIBLE TIMING.

■ FLEXIBLE CBD ZONING ALLOWS UP TO 57 FEET AND INCREASED DENSITY FOR A POTENTIAL MIXED-USE DEVELOPMENT.

■ IN-PLACE INCOME AND A VARIETY OF LEASING OPTIONS ALLOW FOR CONTROLLABLE YIELD DURING PLANNING STAGES.

■ FRONTAGE ALONG NE 175TH ST, DOWNTOWN WOODINVILLE’S MAIN COMMERCIAL ARTERIAL, AS WELL AS ACCESS AND EXPOSURE TO WOODINVILLE-SNOHOMISH ROAD.

Thehighlights

Investment Highlights

IMMEDIATE DEVELOPMENT OPPORTUNITY ON THE NORTH PORTION OF THE PROPERTY

■ ACROSS FROM 3.3 ACRE MAJOR CIVIC CENTER MIXED-USE REDEVELOPMENT, INCLUDING 275 MULTI-FAMILY UNITS.

■ SIGNIFICANT RETAIL DEMAND IN THE IMMEDIATE AREA, IN PARTICULAR, GROCERY AND DRUG SEGMENTS UNDERSERVED.

■ DEMOGRAPHIC SHIFT TO THE SUBURBS AND HOME OWNERSHIP OPPORTUNITIES DWINDLING PROVIDE SUBSTANTIAL DEMAND.

■ COMMERCIAL AND RESIDENTIAL AREA GROWTH HAVE BEEN SIGNIFICANT FOR SEVERAL CONSECUTIVE YEARS.

■ THE WINE AND BEVERAGE INDUSTRY HAS DRAMATICALLY INCREASED IN WOODINVILLE CREATING A TOURISM DESTINATION.

■ HIGH DEMOGRAPHIC AREA RECOGNIZING ANNUAL HOUSEHOLD INCOMES NEAR $120,000.

■ NEIGHBORING DOUG’S BOATS 3.5 ACRE SITE IS CURRENTLY ON THE MARKET FOR SALE BY COLLIERS INTERNATIONAL - BELLEVUE.

PAGE 7

522

WOODINVILLE-SNOHOMISH ROAD

405

5,750VPD

93,000VPD

NE 175T

H STREET

17,013VPD

131ST AVENUE NE

39,000VPD

WOODGATECENTER

124,000VPD

BOTHELL2.5 Miles East

5 minsKIRKLAND8 Miles South

11 mins

REDMOND7 Miles South

14 mins

Site

WITHIN WOODINVILLE’S DOWNTOWN DISTRICT

Site

PAGE 9

MAJOR RETAILAMC Woodinville 12Cost Plus World MarketDollar Tree Haggen Food and PharmacyHome DepotHomeGoods

McClendon’s HardwarePetsmartPlay it Again SportsTargetTJ MaxxRite Aid

Ross Dress for LessStarbucksWoodinville BicycleValue Village

131S

T AV

ENU

E N

E

TOTAL 1-MILE 3-MILES 5-MILES

Businesses 864 3,307 7,337

Employees 9,266 39,410 85,191

Population 10,384 75,781 204,037

KEY 1-MILE 3-MILES 5-MILES

Businesssummary

Surrounding Retail

NE 175TH STREET

17,013VPD

131S

T AV

ENU

E N

E

39,000VPD

522

93,000VPD13

1ST

AVEN

UE

NE

WOODGATECENTER

5,750VPD

522

WOODINVILL

E-SN

OHOMIS

H RO

AD

WOODIN CREEK VILLAGE

APARTMENT HOMES

CIVIC CAMPUS

REDEVELOPMENT

HAGGEN FOOD & PHARMACY IS

THE ONLY FULL-SERVICE GROCER IN DOWNTOWN

WOODINVILLE.

Surrounding Retail

PAGE 11

132N

D A

VEN

UE

NE

NE 175TH STREET

249 SPACES;5.3/1,000 SF

4.24ACRES

17,699 VPD

46,759LEASEABLE SF

WOODINVILLE-SNOHOMISH ROAD

WOODINVILLE WEST RETAIL

CENTER

DOUG'S BOATS SITE CURRENTLY

FOR SALE

Site Plan

SITE PLAN NOT TO SCALE

SITE PLAN KEYSUITE TENANT 1 Brightmont Academy 2&3 JK Personal Training 4 Available 5 Northwest Martial Arts 6 Available 7 The Gift Horse 8 Available 9 India Palace/Cookhouse Bar

SUITE TENANT 10 Cruzin Kidz 11 Janell’s Gluten Free Market 12 Woodgate Cleaners 13 Edward Jones 14 Teriyaki Bowl 15 Available 16 NY Nail Bar 17 Mi Terra Restaurant 18 Available

1

2

35

79

11

10 124

8

6

13141516

17

18

WOODINVILLE WEST RETAIL

CENTER

PASS-THRU COMMON AREA

WITH TWO EXTERIOR ENTRANCES AND INTERIOR ACCESS TO FOUR SUITES

PAGE 13

Featured Photography

Featured Photography

PAGE 15

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The information in this Executive Summary has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. All rights reserved to Capital Pacific, LLC.

KEVIN ADATTOkadatto@capitalpacific.comPH: 503.675.7726

SEAN TUFTSstufts@capitalpacific.comPH: 206.693.3352

DAVID GELLNERdgellner@capitalpacific.comPH: 206.693.3349

SCOTT FRANKsfrank@capitalpacific.comPH: 503.675.8383

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