RIVERFRONT VILLAGE PROJECT

315 N WORTHEN ST, WENATCHEE, CHELAN COUNTY, WA

RIVERFRONT VILLAGE

PROJECTPlanned 454-Unit, 5-Building

Multifamily Project Located in Central Wenatchee Adjacent to

the Columbia River

SUBJECT PROPERTY

http://www.kidder.com/

The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Kidder Mathews and should not be made available to any other person or entity without the written consent of Kidder Mathews.

This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Kidder Mathews has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Kidder Mathews has not verified, and will not verify, any of the information contained herein, nor has Kidder Mathews conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.

This information has been secured from sources we believe to be reliable. We make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Recipient of this report must verify the information and bears all risk for any inaccuracies.

RIVERFRONTVILLAGEOFFERING.COM

DAVE SPEERS

Executive Vice [email protected]

EXCLUSIVELY LISTED BY

RIVERFRONT VILLAGE PROJECT

ELLENSBURG

BELLINGHAM

MARYSVILLE

PUGET SOUND

OLYMPIA

CHEHALIS

LONGVIEW

SEATTLE

CLE ELUM

CHELAN

YAKIMA

RICHLAND

Mt Rainier National Park

Okanogan-Wenatchee National Forest

North Cascades National Park

Yakima Indian Reservation

140 MILES Seattle


http://www.riverfrontvillageoffering.com

3RIVERFRONT VILLAGE OFFERING MEMORANDUM KIDDER MATHEWS RIVERFRONTVILLAGEOFFERING.COM

The ownership of the Riverfront Village property is redeveloping this former industrial cold storage facility into a large multifamily project, as described in this offering memorandum. The ownership anticipates to receive permit approval for the project from the City of Wenatchee this Spring.

PURCHASE OPPORTUNITY OPTIONS:

THE OFFERING

PROPERTY OVERVIEW

Address 315 N Worthen St, Wenatchee, WA

County Chelan

Land Area 7.83 AC / 381,182 SF

Parking 540 Stalls / 1:19 Per Unit

Building Summary 454 Units in 5 Building Configuration

Unit Type # Project Breakout

Studio Units1 Bedroom Units2 Bedroom Units

33290 131

7% of Project64% of Project29% of Project

OPTION 1Buy the project subject to permit issuance for direct

development

$12 MILLION

OPTION 2Buy the project and negotiate a development agreement with the ownership, which also has a general contracting division

PRICING ON REQUEST

CONCEPTUAL RENDERINGS

http://Riverfrontvillageoffering.com

BUILDING DESCRIPTIONS

Bldg # of Units Bldg SF Stories # of Studios # of 1 Bedroom # of 2 Bedroom

A 73 57,270 5 9 34 30

B 84 62,172 5 9 46 29

C 99 71,523 5 5 70 24

D 99 71,503 5 5 70 24

E 99 71,530 5 5 70 24

F Single Floor 5,291 Recreation Building

Planned 454-Unit, 5-Building Multifamily Project Located in Central Wenatchee Adjacent to the Columbia River

BUILDING C

BUILDING D

BUILDING B

BUILDING A

BUILDING E

WENATCHEE RIVERFRONT

PARK

CONCEPTUAL RENDERING

RIVERFRONT VILLAGE OFFERING MEMORANDUM KIDDER MATHEWS 4RIVERFRONTVILLAGEOFFERING.COM








COLUMBIA RIVER

WENATCHEE RIVERFRONT

PARK

BNSF RAILWAY

MICROSOFT'S 170 ACRES EAST

WENATCHEE SITE

LOOKING SOUTHEAST


SITE



WENATCHEE RIVERFRONT PARK

BNSF RAILWAY

BNSF RAILWAY

BNSF RAILWAY





LOCATION OVERVIEWRiverfront Village is located adjacent to the Columbia River in Wenatchee’s Central Business District. Wenatchee is located about 140 miles east of Seattle, just over the Cascade Mountains in Eastern Washington, which is a high desert region comprising over 2/3rds of the land area of Washington.

Wenatchee is considered the “Apple Capital” of the state, however Eastern Washington is one of the largest agriculture regions in the country, producing a wide array of produce and is the second largest wine production region in the United States.

Wenatchee is the second largest city in Eastern Washington and is currently experiencing significant population growth.

CURRENT VACANCY RATE IS BELOW 2%

Riverfront Village is well-positioned to attract new residents from Wenatchee, as well as part-time and retirement “west side” residents coming from Seattle, Tacoma, and Portland, Oregon.

SUNNYSLOPE

WEST WENATCHEE

EAST WENATCHEE

SOUTH WENATCHEE

Wenatchee Confluence State Park

WENATCHEE

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10RIVERFRONT VILLAGE OFFERING MEMORANDUM KIDDER MATHEWS RIVERFRONTVILLAGEOFFERING.COM

2H 39M Spokane

2H 28M Seattle

1H 52M Yakima

CENTRAL WASHINGTON INDUSTRY MAP

East Wenatchee and Quincy hold the majority of Data Centers in Washington State EAST

WENATCHEE

WEST WENATCHEE

MICROSOFT'S 170 ACRES EAST

WENATCHEE SITE

NO. 1PRODUCER OF APPLES IN US WITH OVER $2.4B IN PRODUCTION & 70% OF

TOTAL APPLE PRODUCTION NATIONWIDE

NO. 1PRODUCER OF HOPS IN

US WITH OVER $489M IN PRODUCTION

NO. 1PRODUCER OF PEARS IN US WITH OVER $246M IN

PRODUCTION

$2.6BIN PRODUCTION OF MILK,

WHEAT, AND POTATOES

2NDLARGEST WINE PRODUCING

STATE IN US

$4.8BTOTAL ANNUAL ECONOMIC

IMPACT FROM WINE

940+TOTAL WINERIES IN THE STATE OF WA



WORLD PHOTO/DON SEABROOK

Last summer Microsoft bought a 170 acre site in East Wenatchee for over $19 million. Microsoft is developing a huge data center on its East Wenatchee site.

The company’s total budget for the project exceeds $1 billion.

The project will have 3 phases and when complete the entire center is believed to be over 700,000 square feet.

The first phase, now under construction, will total more that 244,000 square feet and cost over $400 million.

Microsoft will pay for a substation, transmission lines and other “off site” improvements in support of the new data center at an estimated cost of $25 million.

Microsoft has an existing data center in Quincy, easterly of East Wenatchee, which is valued at over $1.8 billion.



OFFERING STRUCTUREPrice with Permits - $12 Million

Price with Project Development - TBD

Offers for Riverfront Village will be reviewed as received, however ownership reserves the right to set a specific bid date at some future point.




KIDDER.COM

EXCLUSIVELY REPRESENTED BY

DAVE SPEERS

Executive Vice [email protected]

RIVERFRONTVILLAGEOFFERING.COM



http://www.riverfrontvillageoffering.com

Documents

RIVERFRONT VILLAGE PROJECT