WAC Center

cba.epropertydata.com

WAC Center

For Sale > Investment Opportunity

WAC Center

18600 Woodinville-Snohomish Road, Woodinville WA, 98072

Anchored by Gold’s Gym, the three tenant WAC Center presents an excellent opportunity to acquire a 59,850 SF,

triple-net, 100% leased investment in Woodinville, WA, on Seattle’s Eastside, one of the most highly sought after

investment communities in the nation. The property is located in the heart of Woodinville’s business district and

benefits from its severe barriers to entry. The tenants are prosperous, stable, and seasoned with solid rental

increases. Investments of this quality are rarely offered on the highly desirable Eastside.

Paul Sleeth

Senior Vice President

+1 206 223 1266

paul.sleeth@colliers.com

Bret Jordan

Managing Director

+1 425 453 3131

bret.jordan@colliers.com

Mike Schreck

Senior Vice President

+1 425 453 3120

mike.schreck@colliers.com

Billy Sleeth

Retail Investment Sales

+1 206 654 0522

billy.sleeth@colliers.com

Colliers International

601 Union St., Suite 5300

Seattle, WA 98101

www.colliers.com


For Sale > Investment Opportunity

WAC Center

18600 Woodinville-Snohomish Road, Woodinville, WA 98072

Phenomenal Location

The Puget Sound’s Eastside is arguably one of the most sought

after real estate investment markets in the Pacific Northwest

due to its explosive employment and residential growth, high

incomes, low vacancy and severe barriers to entry.

Long Term Leases

There are 13+ years remaining on Gold’s lease. Home Court

and Oasis Spa have 5+ years remaining. Oasis Spa expanded in

2009 and Home Court renewed their lease for 6 years in 2010.

100% Leased

The Woodinville Athletic Center is fully leased to three tenants

and has benefited from high historical occupancy.

Severe Barriers to Entry

Woodinville is a supply-constrained market with severe barriers

to entry. Downtown Woodinville is basically landlocked by

natural and public barriers, resulting in a severe lack of available

land.

Strong Demographics

Trade area average household incomes exceed $100,000.

Excellent Access and Visibility

140th Avenue NE is the major arterial running north-south

through downtown Woodinville. The Woodinville Athletic

Club is located at the intersection of 140th Avenue NW and

the Woodinville-Snohomish Road, another major arterial that

connects to SR-522 just one block to the north.

Major Retail Corridor

The center is located in a major retail corridor with neighboring

tenants including Target, Costco, Barnes & Noble, Linens N’

Things, PetSmart, Famous Footwear, Eddie Bauer, Top Foods,

Albertsons, Office Max, Sleep Country and many more.

Strong Contracted Rental Increases

Home Court has a 7.25% rental increase in 2012 followed by

4.5% annual increases throughout their lease. Gold’s Gym has

significant rental increases beginning in 2014. Oasis Spa has

3% annual increases.

Traffic Counts

Average daily traffic counts exceed 30,000 at the intersection of

140th Avenue NE and Woodinville-Snohomish Road.

Strong Business Market

There is over 8 million square feet of office and industrial space

along within the Woodinville trade area. Companies located in

the trade area include Precor Inc., Ste. Michelle Wine Estates

Ltd., Bensussen Deutsch & Associates, Inc., Loud Technologies,

Inc, and the Columbia Winery.


Woodinville Snoqualmie Rd NE

WAC Center

522

202

Interchange

405


For Sale > Investment Opportunity

WAC Center

18600 Woodinville-Snohomish Road, Woodinville, WA 98072

Address: 18600 Woodinville-Snohomish Road,

Woodinville, WA 98072

County: King County

Year Built: 2003

Parcel #: 192730-0005

Land Area: 3.24 Acres

Rentable Area: 59,850 SF

Parking Stalls: 188 Stalls, 3.1 Stalls per 1,000 SF GLA

Zoning : General Business

Suite # Tenant SF

100

WV Fitness, LLC

(Dba Gold’s Gym Woodinville)

38,000

210 Home Court NW 12,260

220/230 Oasis Spa & Salon 9,590

TOTAL 59,850


Gold’s Gym Home Court Oasis Spa


For Sale > Investment Opportunity

WAC Center

18600 Woodinville-Snohomish Road, Woodinville, WA 98072

Financials

NOI: $ 957,594

Price: $ 13,679,900

Cap Rate: 7.0%

Average Household Income

1 mile: $ 90,670

2 mile: $ 101,692

3 mile: $ 100,596

Population

1 mile: 9,186

2 mile: 59,509

3 mile: 173,429

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). © 2011. All rights reserved.

Paul Sleeth

Senior Vice President

+1 206 223 1266

paul.sleeth@colliers.com

Bret Jordan

Managing Director

+1 425 453 3131

bret.jordan@colliers.com

Mike Schreck

Senior Vice President

+1 425 453 3120

mike.schreck@colliers.com

Billy Sleeth

Retail Investment Sales

+1 206 654 0522

billy.sleeth@colliers.com

Colliers International

601 Union St., Suite 5300

Seattle, WA 98101

www.colliers.com

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