EVERETT VILLAGE CENTER
FOR SALE Institutional Quality Investment
Everett Village Center 1130 SE Everett Mall Way · Everett, WA
Everett Village Center is a 120,912-square-foot shopping center anchored by TJ Maxx, Bed Bath & Beyond, Best Buy, and PetsMart located immediately adjacent to the Everett Mall. The offering consists of two separate phases that can be purchased together or separately.
Offering Highlights Rare Mall Periphery, Regional Destination, Promotional Center Investment Opportunity in the Puget Sound Region. Exceptional Tenancy Everett Village Center provides a stable income stream backed by national and regional tenants including: TJ Maxx, Best Buy, Bed Bath & Beyond, PetsMart, Bank of America, and Sleep Country USA. This excellent tenant line-up provides draw, stability and credit to the investment. 100% Leased The asset is fully leased which is a testament to the location and quality of the project. Excellent Location Adjacent to Everett Mall Everett Village Center is ideally located along Everett Mall Way in the Everett Mall parking lot and adjacent to the I-5 Freeway. Everett Mall is anchored by Macy’s, Sears, Regal Cinemas, Burlington Coat Factory, & LA Fitness which generates draw and further substantiates the quality of the location. Strong Retail Corridor Other retailers in the immediate trade area include Safeway, Target, Sports Authority, Costco, WinCo, K-Mart, Wal-Mart (opening soon), Petco, Michaels, and Toys R Us. This is the highest concentration of retail in the Everett trade area. Below Market Bank of America Rent Bank of America occupies a single tenant; drive-thru building located on Everett Mall Way. Bank of America currently pays $11.22/sf/yr providing significant future upside.
Solid Demographics The current demographic base within a 5-mile radius of the property has a population over 231,000 and an average household income in excess of $76,000. High Barriers to Entry There are very few available land tracts for significant retail developments which results in high barriers to entry in the immediate area. Due to the barriers to entry and strong location Everett Village Center will continue to be the dominant center in the trade area for the foreseeable future. Excellent Access and Visibility The center benefits from excellent access and visibility along Everett Mall Way. The property is located at a fully signalized intersection, that is also one of the major entrances to the Everett Mall, and less than ½ mile from a major I-5 and State Route 526 interchange. High Quality Construction/Curb Appeal Constructed in 2005, Everett Village Center presents the rare opportunity to own a newly constructed, high quality shopping center. Traffic Counts Traffic counts are in excess of 40,000 cars per day at the intersection of Everett Mall Way (Hwy. 99) and West Mall Drive and over 169,000 cars per day on I-5.
Ease of Management With eight tenants, 100% occupancy, and high-quality construction, Everett Village Center requires minimal management.
Paul Sleeth
Billy Sleeth
Colliers International
Senior Vice President
Vice President
601 Union Street, Suite 5300
+1 206 223 1266
+1 206 654 0522
Seattle, WA 98101
[email protected]
[email protected]
www.colliers.com/seattle
Everett village center | BROCHURE
526
GH
WA Y PA CIF
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EVE
RET
PA CIF
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WA Y
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Retail Aerial
AD RO RT O IRP
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EVERETT VILLAGE CENTER
experience the creativity
COLLIERS INTERNATIONAL
LA | F I T N E S S
EVERETT MALL
COMING SOON
Paul Sleeth
Billy Sleeth
Colliers International
Senior Vice President
Vice President
601 Union Street, Suite 5300
+1 206 223 1266
+1 206 654 0522
Seattle, WA 98101
[email protected]
[email protected]
www.colliers.com/seattle
VE SE E
everett village center | BROCHURE
EVERETT VILLAgE CEnTER PhASE II
EVERETT VILLAgE CEnTER PhASE I
Site Plan
T
LL MA
WAy
Bank of America
RE T
W MALL dRIVE
LA | F I T N E S S
EVERETT MALL (nAP)
CI T Y
PA RT Y
COLLIERS INTERNATIONAL
FOR SALE Institutional Quality Investment
Everett Village Center 1130 SE Everett Mall Way · Everett, WA Financials The offering consists of two separate phases that can be purchased together or separately. Price:
$27,794,000
Net Operating Income:
$1,722,804
CAP Rate:
6.2%
Land Area:
7.49 Acres
Rentable Building Area:
120,912 SF
Phase I
Phase II
Address:
1130 SE Everett Mall Way, Everett, WA 98208
Address:
1124–1212 SE Everett Mall Way, Everett, WA 98208
Net Operating Income:
$1,366,790
Net Operating Income:
$356,014
Land Area:
5.75 Acres
Land Area:
1.74 Acres
Rentable Building Area:
120,912 SF
Rentable Building Area:
28,945 SF
Financing:
In-Place Assumable Loan
Financing:
In-Place Assumable Loan
Lender:
PNC Bank
Lender:
PNC Bank
Principal Balance:
$14,680,226 (as of July 2013)
Principal Balance:
$4,491,006 (as of July 2013)
Interest Rate:
5.44%
Interest Rate:
5.85%
Maturity Date:
April 2016
Maturity Date:
November 2017
This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. Colliers International is a worldwide affiliation of independently owned and operated companies. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2013.
Paul Sleeth
Billy Sleeth
Colliers International
Senior Vice President
Vice President
601 Union Street, Suite 5300
+1 206 223 1266
+1 206 654 0522
Seattle, WA 98101
[email protected]
[email protected]
www.colliers.com/seattle
Everett Village Center 1130 SE Everett Mall Way · Everett, WA
Everett Village Center is a 120,912-square-foot shopping center anchored by TJ Maxx, Bed Bath & Beyond, Best Buy, and PetsMart located immediately adjacent to the Everett Mall. The offering consists of two separate phases that can be purchased together or separately.
Offering Highlights Rare Mall Periphery, Regional Destination, Promotional Center Investment Opportunity in the Puget Sound Region. Exceptional Tenancy Everett Village Center provides a stable income stream backed by national and regional tenants including: TJ Maxx, Best Buy, Bed Bath & Beyond, PetsMart, Bank of America, and Sleep Country USA. This excellent tenant line-up provides draw, stability and credit to the investment. 100% Leased The asset is fully leased which is a testament to the location and quality of the project. Excellent Location Adjacent to Everett Mall Everett Village Center is ideally located along Everett Mall Way in the Everett Mall parking lot and adjacent to the I-5 Freeway. Everett Mall is anchored by Macy’s, Sears, Regal Cinemas, Burlington Coat Factory, & LA Fitness which generates draw and further substantiates the quality of the location. Strong Retail Corridor Other retailers in the immediate trade area include Safeway, Target, Sports Authority, Costco, WinCo, K-Mart, Wal-Mart (opening soon), Petco, Michaels, and Toys R Us. This is the highest concentration of retail in the Everett trade area. Below Market Bank of America Rent Bank of America occupies a single tenant; drive-thru building located on Everett Mall Way. Bank of America currently pays $11.22/sf/yr providing significant future upside.
Solid Demographics The current demographic base within a 5-mile radius of the property has a population over 231,000 and an average household income in excess of $76,000. High Barriers to Entry There are very few available land tracts for significant retail developments which results in high barriers to entry in the immediate area. Due to the barriers to entry and strong location Everett Village Center will continue to be the dominant center in the trade area for the foreseeable future. Excellent Access and Visibility The center benefits from excellent access and visibility along Everett Mall Way. The property is located at a fully signalized intersection, that is also one of the major entrances to the Everett Mall, and less than ½ mile from a major I-5 and State Route 526 interchange. High Quality Construction/Curb Appeal Constructed in 2005, Everett Village Center presents the rare opportunity to own a newly constructed, high quality shopping center. Traffic Counts Traffic counts are in excess of 40,000 cars per day at the intersection of Everett Mall Way (Hwy. 99) and West Mall Drive and over 169,000 cars per day on I-5.
Ease of Management With eight tenants, 100% occupancy, and high-quality construction, Everett Village Center requires minimal management.
Paul Sleeth
Billy Sleeth
Colliers International
Senior Vice President
Vice President
601 Union Street, Suite 5300
+1 206 223 1266
+1 206 654 0522
Seattle, WA 98101
[email protected]
[email protected]
www.colliers.com/seattle
Everett village center | BROCHURE
526
GH
WA Y PA CIF
I
CH I
I
EVE
RET
PA CIF
SE
WA Y
Y WA LL A TM
GH CH I
Retail Aerial
AD RO RT O IRP
A
EVERETT VILLAGE CENTER
experience the creativity
COLLIERS INTERNATIONAL
LA | F I T N E S S
EVERETT MALL
COMING SOON
Paul Sleeth
Billy Sleeth
Colliers International
Senior Vice President
Vice President
601 Union Street, Suite 5300
+1 206 223 1266
+1 206 654 0522
Seattle, WA 98101
[email protected]
[email protected]
www.colliers.com/seattle
VE SE E
everett village center | BROCHURE
EVERETT VILLAgE CEnTER PhASE II
EVERETT VILLAgE CEnTER PhASE I
Site Plan
T
LL MA
WAy
Bank of America
RE T
W MALL dRIVE
LA | F I T N E S S
EVERETT MALL (nAP)
CI T Y
PA RT Y
COLLIERS INTERNATIONAL
FOR SALE Institutional Quality Investment
Everett Village Center 1130 SE Everett Mall Way · Everett, WA Financials The offering consists of two separate phases that can be purchased together or separately. Price:
$27,794,000
Net Operating Income:
$1,722,804
CAP Rate:
6.2%
Land Area:
7.49 Acres
Rentable Building Area:
120,912 SF
Phase I
Phase II
Address:
1130 SE Everett Mall Way, Everett, WA 98208
Address:
1124–1212 SE Everett Mall Way, Everett, WA 98208
Net Operating Income:
$1,366,790
Net Operating Income:
$356,014
Land Area:
5.75 Acres
Land Area:
1.74 Acres
Rentable Building Area:
120,912 SF
Rentable Building Area:
28,945 SF
Financing:
In-Place Assumable Loan
Financing:
In-Place Assumable Loan
Lender:
PNC Bank
Lender:
PNC Bank
Principal Balance:
$14,680,226 (as of July 2013)
Principal Balance:
$4,491,006 (as of July 2013)
Interest Rate:
5.44%
Interest Rate:
5.85%
Maturity Date:
April 2016
Maturity Date:
November 2017
This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. Colliers International is a worldwide affiliation of independently owned and operated companies. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2013.
Paul Sleeth
Billy Sleeth
Colliers International
Senior Vice President
Vice President
601 Union Street, Suite 5300
+1 206 223 1266
+1 206 654 0522
Seattle, WA 98101
[email protected]
[email protected]
www.colliers.com/seattle
