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Available For Sale - Office

14,066 SF | Show Pricing $

AVAILABILITY DETAILS

Size
14,066 SF
Price/SF
Show Pricing $
Listing ID
SA416235
Notes
*** Call us and schedule a tour, please do NOT disturb tenants. ***



Beautiful 3 story office complex in Gig Harbor. The first floor was completed in 2009, and floors 2 and 3 were left as contractor grade concrete construction until a complete build-out and occupancy in June of 2018.



The approach to the second and third floor was completely well thought out and preplanned. We went out and asked the business community by preleasing, what the market was looking for and discovered that smaller offices were in high demand so that approach was used in the design and buildout. It turned out stunning and well received by all tenants and clients that enter the building. The result was a completely 100% fully occupied building, again prebuild out, with an average $5 per square foot increase in the original asking lease rate.



The location is visible from Hwy 16 on the west side and easily accessible to the freeway. The current zoning is B2 but it is in a newer growth area and parcels to the north of this property have just been rezoned C1 commercial along Burnham Drive, so continued growth in the area is expected. On the east side of Hwy 16, 2 minutes or 0.7 miles from this building are all the amenities from Starbucks, Target, Home Depot and Office depot.



Projected cap rates for this property are as follows:



- 2020: 5.84

- 2021: 6.32



Title is open with Rainier Title - Gig Harbor. File #763943RT - Parcel# 0122258008
Uses
Office

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.

Listing provided courtesy of
Mary Keller Wynn, Gig Harbor