liberty lake portal - loopnet · 2019-09-20 · best western plus quality inn & suites mirabeau...
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LIBERTY LAKE PORTALLIBERTY LAKE, WA
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LANDMARK PROPERTY AT THE HEART OF EASTERN WASHINGTON’S TECH HUB
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LIBERTY LAKE PORTAL
$16,700,000 6.5%
PRICE
ANNUAL RENT GROWTH on long leases, with balanced rollover schedules, complimented by a cross section of small and medium businesses with room to grow. On site management leads to extremely high levels of tenant satisfaction and contributes to high occupancy. Four conference rooms, 3 breakrooms, a shower and loading dock all add to the usubaility and long term value of the asset.
PRO FORMA CAP RATE
OVERVIEW
23403 E MISSION AVE, LIBERTY LAKE, WA 99019
INVESTMENT SUMMARY
LEASABLE SF
PPSF
100,000
$167
LAND AREA
YEAR BUILT BUILDABLE SPACE
3.19 ACRES
2000, 2005, 2007, 2012
1500 SF
OCCUPANCY96%
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HIGHLIGHTSINVESTMENT
TROPHY PROPERTY IN LIBERTY LAKE, WA.
CLASS A OFFICE ON TOP OF THE NATIONS LEADING DATA CENTER PROVIDER, HOUSING LEADING TECH FIRMS AND COMPLIMENTED WITH NUMEROUS BRAND NAME TENANTS.
BRICK + GLASS + STEEL CONSTRUCTION, NUMEROUS AMENITIES AND AMPLE PARKING MAKE THIS A FANTASTIC LONG TERM INVESTMENT.
RECENT UPGRADES: 90% of all interior lighting upgraded to LED, signifciantly longer life bulbs and lower operating costs. 4 out of 6 roof top condensor units replaced and upgraded to non-water systems recently, lowering operating costs and increasing ease of maintenance. 2/3 of HVAC controls replaced 2016. Parking lot re-sealed summer of 2019.
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SITE
LOCATED IN LIBERTY LAKE, WA, ONE OF THE
FASTEST GROWING COMMUNITES IN THE STATE
AND IN THE 88TH PERCENTILE FOR PER CAPITA
INCOME IN THE ENTIRE STATE OF WA.
LIBERTY LAKE, WA
LIBERTY LAKE
PORTAL
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LIBERTYLAKE
COEUR D’ALENE, IDAHO 18 MILES
EASY ACCESS TO INTERSTATE 90
SKIINGMT. SPOKANE
30 MILES
LIBERTY LAKE REGIONAL PARKBEACH, HIKING TRAILS,
ORV PARK
DOWNTOWN SPOKANE 17 MILES
SPOKANE INTERNATIONAL AIRPORT
21 MILES
SURROUNDING AMENITIES
DEMOGRAPHICS
HOSPITALITY & EATSStarbucks Albertson’s Yokes Fresh Market Local & Chain Restaurants Best Western Plus Quality Inn & Suites Mirabeau Park Hotel
RECREATION Liberty Lake Regional Park 3 Golf Courses 70 lakes within 60 minute drive Ski Resorts within 30 mile drive
PROXIMITYSpokane International Airport Downtown Spokane Coeur d’Alene Resort
GYMSLiberty Lake Athletic Club Crossfit Libert Lake Anytime Fitness
BANKSBank of America US Bank Spokane Teacher’s Credit Union Banner Bank Washington Trust Bank Umpqua Bank
SURROUNDING AMENITIES &
DEMOGRAPHICS
1 MILE 3 MILESPopulation 8,186 51,771Households 6,183 26,148Average Age 38.30 39.7Median HH Income $69.199 $66,618Daytime Employees 6636 8677Population Growth ‘19-’24 Up 9.4% Up 8.9%Household Growth ‘19-’24 UP 9.6% Up 9.1%
LIBERTY LAKE
PORTAL
ATHLETIC CLUBRESTAURANTS
HOTELS
I-90
GOLF COURSE
1
GOLF COURSE
2
POSTOFFICEGROCERY
STORESPUBLIC
LIBRARY
GOLF COURSE
3
LIBERTY LAKE
TIERPOINT 40+ locations nationwide, top tier data center operator, 5,000+ customers, 37% of the GLA, 9.9 years remaining on the current lease
AGILITY RECOVERY4,000+ customers, nationwide presence
STRUCTURED COMMUNICATIONS25+ years in business with 8 US locations
JACKLIN SEED / SIMPLOTIn the Top 100 of largest privately held companies in the USA. 7 years remaining on the lease
GEO-SPATIAL INNOVATIONS10+ years in business, 3 locations across the US (WA, TX, PA)
ORIGIN FORENSICS16+ years in business, client roster includes Ford Motors
ROHINNICreator of Cutting edge, programmable LED’s, recent Joint Venture with $2.5b Flat Screen Manufacturing company
OTHER BRAND NAME TENANTS Farmers Insurance, State Farm Insurance, Edward Jones, Delta Dental
LEASESCOMPARABLE
PROFILESTENANT
LIBERTY LAKE
PORTALRIVERVIEWCORPORATE
CENTER
RIVER VIEW CORPORATE CENTER16201 E. INDIANA AVENUE SPOKANE VALLEY, WA 99216SPACE SIZES: 645 - 3008 SF ANNUAL RENT: $24 - $26 PSQF
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50,000
ANALYSISMARKET
SQUARE FEET
At the time of listing, no other office properties over 50,000 square feet listed for sale across all of Spokane County.
Exceptional positioning at the intersection of commercial and residential on Mission and Molter. The home of Liberty Lake’s founding, incorpoarted in August, 2001, inside the Liberty Lake Portal.
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PHOTOGRAPHY
This information 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 infomration. Buyer must verify the information and bears all risk for any inaccuracies.