$6,247,222$6,247,2224.50% CAP Rate | $281,125 NOI4.50% CAP Rate | $281,125 NOI

Single Tenant NNN Corporate Leased Investment7-Eleven with Fuel

3309 Pacific Highway, Fife, WA

Brandi M. HoBrandi@MAJCRE.com 360.823.5112

Blake D. FederinkoBlake@MAJCRE.com 360.823.5111

Exclusively Marketed By:Tim Webertweber@firstwestern properties.com 253.471.5502

Michael A. JenkinsMike@MAJCRE.com 360.823.5102

Representative Photo- Under Construction -

Opening April 2020

THIS OFFERING PRESENTS the opportunity to acquire a Single Tenant Net Leased Investment located in Fife, WA. The newly developed property, consisting of a convenience store and fueling station, is leased to 7-Eleven Corporate on a new 15-Year NNN Lease. The subject property is in close proximity to other businesses such as, Port of Tacoma, Emerald Queen Casino, Pepsi Co., Fife Auto Mall, Loves Truck Stop and much more. The excellent location provides ideal access to I-5.

Price | $6,247,222CAP Rate | 4.50%

Land Area40,210+/- SqFt

Tenant7-Eleven

Year Built2020

MPD’s4

Lease GuarantorCorporate Guarantee

Building Size3,010+/- SqFt

Completion DateApril 2020

Tenant’s Right of First RefusalYes

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Newly Developed

Easy Access to Major High-ways

15-Year NNN Lease w/ Rent Increases

Located in an Income Tax Free State

234,000+ Population within a 5-Mile Radius

Actual Rendering

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TAXES Tenant Responsible (See Sec. 7 of Lease) INSURANCE Tenant Responsible (See Sec. 13 of Lease)MAINTENANCE Tenant Responsible (See Sec. 8 of Lease)UTILITIES Tenant Responsible (See Sec. 6 of Lease)

GUARANTOR 7-Eleven Corporate

TERM 15-Year Primary Term

INCREASES See Enclosed Rent Roll

EXTENDED TERMS 4, 5-Year Options

NOI $281,125.00

LEASE TYPE NNN Lease

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TENANT SUMMARYWebsite: 7-ElevenLease Guarantor: 7-Eleven CorporateS&P Credit Rating: AA-Parent Company: Seven & Holdings, Ltd.Number of Locations: 70,000+/-

Headquarters: Irving, TX

Website: www.7-Eleven.com

7-Eleven is the world’s #1 convenience store with sales of $89 billion in 2016. Based in Dallas, Texas, 7-Eleven operates, franchises or licenses more than 63,000 stores in 18 countries, including 10,900 in North America. 7-Eleven focuses on meeting the needs of convenience-oriented customers by providing a broad selection of fresh, high quality products and services at everyday fair prices, speedy transactions and a clean and friendly shopping environment. Each store’s selections of about 2,500 different products and services is tailored to meet the needs and preferences of local customers.

7-Eleven offers customers industry-leading private brand products under the 7-Select brand including healthy options, decadent treat and every favorites, at an outstanding value. Customers also count on 7-Eleven for payments services, self service lockers and other convenient services.

Term YearsMonthly Rent Annual Rent202020262031

1-56-10

11-15

$23,427.09$25,184.11$27,072.92

$281,125.08$302,209.32$324,875.04

OPTION 1OPTION 2OPTION 3OPTION 4

16-2021-2526-3031-35

$29,103.39$31,286.15$33,632.61$36,155.05

$349,240.68$375,433.80$403,591.32$433,860.60

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Sale Price $6,247,222.00

Net Operating Income $281,125.00

Scheduled Income $281,125.00Less Operating Expenses

CAMsProperty TaxesInsuranceTotal Expenses

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CAP Rate 4.50%

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March 14, 2018

Interstate 5 – Port of Tacoma Road Interchange Improvement Project

Map LegendPhase 1Phase 2

Phase 1 – FundsCity of Fife $10.5 MPort of Tacoma $1.5 MWA Department of Ecology $0.3 MFederal Highway Administration/PSRC $11.1 MFederal Highway Admin./SAFETEA -LU $0.7 MFreight Mobility Strategic Investment Board $8.7 MTransportation Improvement Board $7.1 MConnecting WA (2015 Legislation) $2.6 MTotal Phase 1 $42.5 MFuture Funding - Phase 2City of Fife $2.5 MFMSIB $7.5 MConnecting Washington – 2015 Legislation $19.7 MTo Be Determined $16.7 MTotal-Phase 2 $46.4 M

Project DescriptionThis project will provide road, intersection, and interchange improvements of great value to the Port of Tacoma, the surrounding industrial area, and businesses in the Cities of Fife and Tacoma. The project is a multi-phased plan to improve the Port of Tacoma Road/Interstate 5 interchange, Pacific Highway East and the Port of Tacoma Road.

The project has been developed in phases over more than a decade, with past work on surface streets completed and a wetland mitigation site nearing completion.

The project will reconfigure the existing interchange to a split diamond with one-way couplet. The Port of Tacoma Road and its existing bridge over I-5 will be converted to one-way southbound traffic while the parallel 34th

Avenue East and its new bridge over I-5 will be made one-way northbound.

Recent Developments Phase 1 of the interchange is fully funded and should begin construction in 2018. The design work for Phase 2 will begin soon. Construction funding is being sought for Phase 2.

Project JustificationThe Port of Tacoma indirectly accounts for more than 43,000 jobs and generates $637 million in annual wages in Pierce County. Design, Value Engineering and Traffic Modeling studies have confirmed the need for the improvements and identified an alternativeconfiguration for the interchange and the I-5/ POT road ramps. The interchange reconstruction will improve level of service for trucks traveling to and from the Port of Tacoma.

The project will improve the operation of the I-5mainline and all streets and intersections in the project vicinity. Traffic analysis indicates that the entire area would be in gridlock conditions in 2040 if anticipated growth occurred without project construction. With project construction, every intersection in the project vicinity will operate at level of service “D” or better and queue lengths will be reduced from thousands of feet to hundreds.

Proposed construction of the SR 167 freeway extension will substantially improve access to the east portion of the Port of Tacoma but this project is still necessary in order to provide access to the west portion of the Port.

SUMMARY OF BENEFITS

• Improves Access to Port of Tacoma

• Improves Safety

• Improves I-5 Main Line Operation

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March 14th, 2018

Port of Tacoma Road ReconstructionThis project will provide road, intersection, and interchange improvements of great value to the Port of Tacoma, the surrounding industrial area, and businesses in the Cities of Fife and Tacoma. The project is a multi-phased plan to improve the Port of Tacoma Road/Interstate 5 interchange, Pacific Highway East and the Port of Tacoma Road.

The project has been developed in phases over more than a decade, with past work on surface streets completed and a wetland mitigation site nearing completion. The project will reconfigure the existing interchange to a split diamond with one-way couplet. The Port of Tacoma Road and its existing bridge over I-5 will be converted to one-way southbound traffic while the parallel 34th Avenue East and its new bridge over I-5 will be made one-way northbound.

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• Each year, handles between 9 and 13 million tons of cargo

• Responsible for more than $25 billion of commerce

• Among the top ten largest container ports in North America

• Port activities are related to more than 42,000 jobs in Pierce County and 267,000 jobs in Washington State

A study released in 2019 about the Ports operations in 2017 revealed the following:

• Generated nearly $3 billion in economic activity

• Produced more than $100 million annually in state to support education, police, fire services and road improvements

More Information on The Port of Tacoma

Emerald QueenCasino

The Port of Tacoma

• Just 9 min away from The Hailey - 186 Unit Multi-Family

Development (Delivers May 2020)

• Located 2.3 miles from the Tacoma Dome

• Second most populous county in the State of Washington

• Opening day is projected to be in March of 2020

• The estimated cost for the renovation is approximately $400 million

• The casino totals 310,000 square feet

• Features a 21,000 SF event center with a 2,000-person seating capacity

• The tribe will also open a 12-story, 170-room hotel and spa later this year

• Tribe estimates the new casino will add $1.5 billion to the local economy over the next decade

More Information on Emerald Queen Casino

Port of Tacoma

Emerald Queen Casino

• Hard Corner located adjacent to I-5 with over 167,000 VPD

• Strong daytime population, over 143,000 employees within a

5-mile radius

• Estimated population growth of 8.28% in the next 5-Years (3-mile

radius)

PACIFIC HWY 13,800

VEHICLES DAILY

Port OfTacoma

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5 MILE RADIUS

3 MILE RADIUS

1 MILE RADIUS

Average IncomeEst. 2019Proj. 2024Census 2010Census 2000

$55,535 $72,804 $84,976$62,105 $81,721 $94,572$51,973 $57,038 $62,204$38,671 $43,584 $52,222

1 Mile 3 Mile 5 Mile

PopulationEst. 2019Proj. 2024Census 2010Census 2000

1,787 56,759 234,510 1,969 62,268 256,358 1,657 50,578 212,546 1,668 42,348 199,773

1 Mile 3 Mile 5 Mile

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FIFE, WAIn 1940, it was described as “Fife...at a valley crossroads in the midst of a thickly settled berry growing and truck-gardening district is represented by a string of markets, taverns, shops, and a large, balloon-roofed dance hall along the highway.” The 1940 population was 135.[6] Fife was officially incorporated on February 11, 1957.

Due to the increased traffic volume traveling from Puyallup and Tacoma, Fife felt the need to establish itself as autonomous community, not just as an intermediate area between Interstate 5 (I-5) and State Route 167.

Fife may have been named for William J. Fife, a prominent Tacoma lawyer, Yukon prospector, once head of the Washington National Guard, and a lieutenant colonel in the field during the Philippine Insurrection.[7] There is also a historic county of Scotland and former Pictish kingdom called Fife, which could also be a source of the city’s name.

Fife, an eastern suburb of Tacoma, consists primarily of businesses such as car dealerships, warehousing and industrial facilities, motels, drive through smokeshops, quick-dining restaurants as well as an Indian casino and various other highway-side businesses. Its proximity to the Port of Tacoma, Interstate 5, and Highway 167 has contributed to the large number of freight forwarding companies. Fife’s tax base is made up of sales tax, utility tax, and property tax.[8] Fife Heights, located on a hill beyond the incorporated bounds of the city, is a primarily residential area. Milton is located immediately to the east and Edgewood

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AGEAGE

Median Age30.8 Years Old

GenderMale 49.0%Female 51.0%

LARGEST EMPLOYERS IN FIFE

300 West 15th Street, Suite 201Vancouver, WA 98660

360.699.4494www.MAJCRE.com

While the information provided is not guaranteed it has been obtained from sources we deem reliable. It is provided without any representations, warranty or guarantee, expressed or implied as to its accuracy. Prospective buyer or tenant should conduct an independent investigation and verification of all matters deemed to be material,

including, but not limited to, statements of income and expenses. Consult your attorney, accountant, or other Professional advisor.