Canal Village - LoopNet€¦ · tri-cities, wa 3 the offering 5 table of contents tri-cities...
Transcript of Canal Village - LoopNet€¦ · tri-cities, wa 3 the offering 5 table of contents tri-cities...
®
REAL ESTATE
OFFERING MEMORANDUM
Kennewick, WA
VILLAGECANAL
TRI-CITIES, WA 3
THE OFFERING 5
TABLE OF CONTENTS
TRI-CITIES DEMOGRAPHICS 4
THE OFFERING 5
SITE LAYOUT 6
GENERAL AREA INFO 3
ABOUT US 1
®REAL ESTATE
TRI-CITIES PASCO OFFICE 2
OUR HISTORY 1
LOCATION OVERVIEW 7
BUSINESSES FOR 5 MILE RADIUS 9
POPULATION TRENDS WITHIN 5 MILES 1 0
NEIGHBORING TENANTS 7
TRAFFIC 12
®REAL ESTATE
The information provided in the following document is proprietary and confidential. It
is intended to be reviewed only by the party receiving it from John L Scott Tri Cities
Pasco (JLS) and should not be made available to any other person or party without the
consent of JLS. This memorandum is delivered under the terms and conditions of a
Confidentiality Agreement, which has been executed by the recipient as Reviewer.
This document has been arranged to provide summary, unverified information to
prospective buyers, and to establish only a preliminary level of interest in the subject
property. JLS makes no guarantees or representations; regarding the information
including, but not limited to, warranties of content, accuracy and reliability. All interested
parties should go through the necessary measures to gather information, pertinent to
the subject property, to verified the accuracy of information. The information has been
prepared by sources we deemed to be reliable, however, JLS has not verified and will
not certify the information contained herein. Prospective buyers should take appropri-
ate steps to verify all of the information set in this document. JLS exclude unequivocally
all terms, conditions, and warranties arising out of this documents and excludes all
liability for loss and damages arising there from.
DISCLAIMER
®REAL ESTATE
John L. Scott strives to provide exceptional real estate experiences,whatever our client’s real estate goals may be. John L Scott pridesthemselves in being the most innovated in new technology.
John L. Scott Real Estate was founded in 1931 in downtownSeattle and is currently led by third generation chairmanand CEO J. Lennox Scott.
The Company is currently ranked one of the most productivereal estate brokerage in the nation according to RIS media.Inducted into Council of Real Estate Brokers Managers Hallof Leaders. We’ve also been recognized with awards suchas the recipient of Inman Innovator Award for “Most Inno-vative Real Estate Company in the Nation”.
Today, John L. Scott Real Estate continues to uphold thevalues and principles established by Lennox’s grandfathermore than eight decades ago, maintaining the higheststandard of professional service in residential home sales.
OUR HISTORY
Now over 3,000 Agents
110+OFFICES
37,000CLOSED
TRANSACTIONS
$14BILLION
$15+MILLION
The Numbers
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®REAL ESTATE2
TRI-CITIES PASCO OFFICEWe are the only real estate brokerage in Southeastern Washington and Northeastern Oregon thatshares common ownership. Serving the areas of Pasco and Walla Walla Washington as well asMilton Freewater and Hermiston Oregon.
John L. Scott Real Estate Tri-Cities Pasco is a full-service brokerage companyspecializing in:
OFFICE LOCATIONJohn L Scott Tri-Cities Pasco
5109 N Road 68, Suite EPasco, WA 99301
Office : (509) 547-5542Fax: (509) 547-9336
Website: www.JohnLScott.com/TriCitiesPasco
RESIDENTIALSALES
NEW CONSTRUCTIONSALES
COMMERCIALREAL ESTATE SALES
COMMERCIALDEVELOPMENT
RESIDENTIALDEVELOPMENT
AGRICULTURALSALES
PROPERTYMANAGEMENT
LAND USEPLANNING
POINT OF CONTACTGeoff GuidryManaging Broker
Cell: (509) 520-0505Email: [email protected]
Website: www.JohnLScott.com/gguidry
®REAL ESTATE
Right in the heart of the PNW, the Tri-Cities isthe perfect place to grow your business.
Situated at the confluence of the Columbia,Snake and Yakima River, the Tri-Cities repre-sents the Pasco-Kennewick-Richland MSA in
Benton and Franklin Counties.
When it comes to business, the Tri-Cities offersbetter locations, faster permitting, and a
smarter workforce!
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THE TRI-CITIES
®REAL ESTATE
TRI-CITIES DEMOGRAPHICSPOPULATION
Tri-Cities, MSABenton County
KennewickRichlandWest Richland
Franklin CountyPasco
2000 Census191,822142,47554,75138,7088,38549,34732,066
2010 Census253,340175,17773,91748,05811,81178,16359,781
2018 Estimate289,960197,42081,85055,32015,32092,54073,590
WORKFORCE
Labor ForceEmploymentUnemploymentUnemployment RateWA State Unemployment Rate
139,939134,1935,7464.1%3.9%
200+WINERIES/BREWERIES
WITHIN 60 MIN
24MUSEUMS &
ART GALLERIES
6COMMUNITY &PERFORMING
ARTS THEATERS
12PUBLIC LIBRARIES
Jan Avg HJan Avg LJuly Avg HJuly Avg LDays of Sun
41°F28°F88°F59°F300
Avg AnnualPercipitaion:Avg AnnualSnowfall:
8.3 Inches
6.0 Inches
Source: US Census and WA Office of Financial Management Forecasting. July 2018
Source: September 2018 Data, WA State Employment Security Department
125PUBLIC PARKS
10GOLF COURSES
2SPORTS TEAMS
Source: TRIDEC
300RESTAURANTS
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®REAL ESTATE
THE OFFERINGThe offering Canal Village will consist of two single story office/retail buildings with a shared central parking area. Phase one of the build will be a3600 SF stand alone building and a 5280 SF retail strip center. Phase 2 will be the construction of a 1 5,000 SF 2 story building with retail andoffices on the lower level and Condos on the upper level.
Offering Financial TermsRent is $22 per square foot per year NNN.NNN include Real Estate Taxes, Insurance, Building Maintenance, Common Area Maintenance etc. estimated to be approximately $4.50 per sq.ft per year.
Tenant ImprovementsThe space is offered with all exterior parking, landscaping, lighting and monument sign, with building complete to the vanilla shell stage
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Site Layout
3,855 USF+DECKS JLS CONFERENCE ROOM 2,940 USF
E
RESTROOMS
RESTROOMS
OPENTO ENTRY BELOW
BALCONY
DECK
UP
UP DN
JLS OFFICES OFFICEPOSSIBLE MULTIPLE TENANTS
DN
SITE LAYOUTThe proposed site layout consist of the 2 buildings of Phase I , full ingress/egress on Canal Drive, circulation for drive-through traffic
on both buildings, and ample parking. Not shown is the additional space for future Phase II
®REAL ESTATE6
Canal DriveBuilding 1 3,600 GSFBuilding 2 5,280 GSF
OUTDOORSEATING
FULL INGRESSEGRESS
DRIVE-THROUGH
PROFESSIONALLYLANDSCAPED
AMPLEPARKING
MONUMENTSIGNAGE
LOCATION OVERVIEW NEIGHBORING TENANTS
®REAL ESTATE7
Wrigley Dr & N Road 76, Pasco, WA 99301BUSINESSES FOR 5 MILE RADIUS
Retail & Wholesale
Financial/Insur/Real Estate
Services
Information
Health Care & Social Assist
Manufacturing
Construction
Utilities & Waste Mgmt
Public Admin & Sales
Agriculture, Mining & Fishing
0 20 40 60 80 100 120 140
*This information is deemed reliable, but not guaranteed and should be independently verifiedSource: CoStar
®REAL ESTATE8
POPULATION TRENDS WITHIN 5 MILESPopulation 1 Mile 3 Mile 5 Mile
2019 Total Population: 10,606 37,521 122,5902024 Population: 11,365 40,477 132,747
Pop Growth 2019-2024: 7.16% 7.88% 8.29%Average Age: 30.00 32.50 34.30
Households2019 Total Households: 3,363 12,310 43,484HH Growth 2019-2024: 7.02% 7.66% 8.17%Median Household Inc: $69,323 $76,157 $60,117
Avg Household Size: 3.10 3.00 2.702019 Avg HH Vehicles: 2.00 2.00 2.00
HousingMedian Home Value: $178,537 $215,344 $188,504
Median Year Built: 2005 2004 1986
POPULATION GROWTH HOUSEHOLD GROWTH
70
80
90
100
120
110
130
140
2000 Census 2010 Census 2019 Estimate 2024 Projection
(Thousands)
22%20%18%16%14%12%10%8%6%
19.30 20.08
7.16 7.02
2010-2019 2019-2024
20%18%16%14%12%10%8%6%
17.71 18.83
7.02 7.13
2010-2019 2019-2024
*This information is deemed reliable, but not guaranteed and should be independently verifiedSource: CoStar
1 MileCounty
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2019 Med Household Inc 2019 Households by Household Income
2019 Median Age 2019 Population by Race
2019 Renter vs. Owner 2019 Employed vs. Unemployed
$70k$68k$66k$64k$62k$60k$58k
$69,232
$58,892
30%25%20%15%10%5%0%
<$25k $25k-$50k
$50k-$75k
$75k-$100k
$100k-$125k
$125k-$150k
$150k-$200k
$200k+
12.1718.27
16.03
22.04
28.38
21.7517 14 13
107 6 3.81 4.18
1.933.64
30.230.029.829.629.429.229.028.8
30.0
29.0 Am. Indian &Alaskan
Hawaiian &Pacific Island
White
100%90%80%70%60%50%40%30%20%10%0%
Black Asian Other
76.51%
23.49%
57.60%
32.10%
Rent Own Rent Own
94.62% 93.80%
Empl Unempl Empl Unempl
5.38% 6.20%
87.59 90.12
2.67 2.81 1.03 1.68 4.92 2.43 0.29 0.4 3.5 2.56
POPULATION TRENDS WITHIN 5 MILES
*This information is deemed reliable, but not guaranteed and should be independently verifiedSource: CoStar
1 MileCounty
®REAL ESTATE10
TRAFFIC REPORTW Canal Dr - Kennewick, WA
*This information is deemed reliable, but not guaranteed and should be independently verifiedSource: CoStar
®REAL ESTATE 11
Collection StreetN Edison StN Edison StW Quinault AveW Metaline AveW Mealine Ave
Cross StreetW Okanogan Ave S
W Stagit Ave NN Jefferson PI E
N Irving St EN Arthur St E
Traffic Count1384724185432328253999
Year20182018201820162018
Distance0.06 mi0.17 mi0.34 mi0.34 mi0.35 mi
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TriCities Pasco Office | 5109 N Rd 68, Pasco, WA 99301 | (509)5475542This office is independently owned and operated.
®
REAL ESTATE
5331
W CANALDRIVEKennewick, WA