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WOODINVILLE, WASHINGTON
Woodgate Center
CONFIDENTIALITY AGREEMENT FOR FULL EXECUTIVE SUMMARY, CLICK HERE.
RARE FOUR-PLUS ACRE CLOSE IN EASTSIDE LOCATION WITHIN SEATTLE MSA
Woodgate Center13300 NE 175TH STREET, WOODINVILLE, WA 98072
Overview
WOODGATE CENTER provides an opportunity to acquire a roughly 47,000 SF retail center on over four acres in one of the region’s highest demographic areas with future possibilities offering multiple redevelopment scenarios. The Property offers a flexible current income that can be quickly improved for short or mid term cash flow, flexible zoning, and offers versatility in timing and planning for numerous development options. This Woodinville location is on the main east-west commercial arterial in the downtown core which has experienced unparalleled growth over the last 25 years and remains one of the regions most sought after suburban locations.
LEASEABLE SF46,759 SF
LAND AREA184,773 SF
ZONINGCBD; Pedestrian DesignDistrict Overlay Zone
YEAR BUILT1968-1991
PARKING249 Spaces; 5.3/1,000 SF
Investment Summary
Best OfferPRICE
4.24ACRES
PAGE 5
Overview
■ RARE FOUR-PLUS ACRES IN THE DOWNTOWN WOODINVILLE CORE ON A FLAT TOPOGRAPHY AND A RELATIVELY SQUARE LOT.
■ IMMEDIATE DEVELOPMENT OPPORTUNITY ON THE NORTH PORTION OF THE PROPERTY ALLOWS FOR PHASED DEVELOPMENT WITH FLEXIBLE TIMING.
■ FLEXIBLE CBD ZONING ALLOWS UP TO 57 FEET AND INCREASED DENSITY FOR A POTENTIAL MIXED-USE DEVELOPMENT.
■ IN-PLACE INCOME AND A VARIETY OF LEASING OPTIONS ALLOW FOR CONTROLLABLE YIELD DURING PLANNING STAGES.
■ FRONTAGE ALONG NE 175TH ST, DOWNTOWN WOODINVILLE’S MAIN COMMERCIAL ARTERIAL, AS WELL AS ACCESS AND EXPOSURE TO WOODINVILLE-SNOHOMISH ROAD.
Thehighlights
Investment Highlights
IMMEDIATE DEVELOPMENT OPPORTUNITY ON THE NORTH PORTION OF THE PROPERTY
■ ACROSS FROM 3.3 ACRE MAJOR CIVIC CENTER MIXED-USE REDEVELOPMENT, INCLUDING 275 MULTI-FAMILY UNITS.
■ SIGNIFICANT RETAIL DEMAND IN THE IMMEDIATE AREA, IN PARTICULAR, GROCERY AND DRUG SEGMENTS UNDERSERVED.
■ DEMOGRAPHIC SHIFT TO THE SUBURBS AND HOME OWNERSHIP OPPORTUNITIES DWINDLING PROVIDE SUBSTANTIAL DEMAND.
■ COMMERCIAL AND RESIDENTIAL AREA GROWTH HAVE BEEN SIGNIFICANT FOR SEVERAL CONSECUTIVE YEARS.
■ THE WINE AND BEVERAGE INDUSTRY HAS DRAMATICALLY INCREASED IN WOODINVILLE CREATING A TOURISM DESTINATION.
■ HIGH DEMOGRAPHIC AREA RECOGNIZING ANNUAL HOUSEHOLD INCOMES NEAR $120,000.
■ NEIGHBORING DOUG’S BOATS 3.5 ACRE SITE IS CURRENTLY ON THE MARKET FOR SALE BY COLLIERS INTERNATIONAL - BELLEVUE.
PAGE 7
522
WOODINVILLE-SNOHOMISH ROAD
405
5,750VPD
93,000VPD
NE 175T
H STREET
17,013VPD
131ST AVENUE NE
39,000VPD
WOODGATECENTER
124,000VPD
BOTHELL2.5 Miles East
5 minsKIRKLAND8 Miles South
11 mins
REDMOND7 Miles South
14 mins
Site
WITHIN WOODINVILLE’S DOWNTOWN DISTRICT
Site
PAGE 9
MAJOR RETAILAMC Woodinville 12Cost Plus World MarketDollar Tree Haggen Food and PharmacyHome DepotHomeGoods
McClendon’s HardwarePetsmartPlay it Again SportsTargetTJ MaxxRite Aid
Ross Dress for LessStarbucksWoodinville BicycleValue Village
131S
T AV
ENU
E N
E
TOTAL 1-MILE 3-MILES 5-MILES
Businesses 864 3,307 7,337
Employees 9,266 39,410 85,191
Population 10,384 75,781 204,037
KEY 1-MILE 3-MILES 5-MILES
Businesssummary
Surrounding Retail
NE 175TH STREET
17,013VPD
131S
T AV
ENU
E N
E
39,000VPD
522
93,000VPD13
1ST
AVEN
UE
NE
WOODGATECENTER
5,750VPD
522
WOODINVILL
E-SN
OHOMIS
H RO
AD
WOODIN CREEK VILLAGE
APARTMENT HOMES
CIVIC CAMPUS
REDEVELOPMENT
HAGGEN FOOD & PHARMACY IS
THE ONLY FULL-SERVICE GROCER IN DOWNTOWN
WOODINVILLE.
Surrounding Retail
PAGE 11
132N
D A
VEN
UE
NE
NE 175TH STREET
249 SPACES;5.3/1,000 SF
4.24ACRES
17,699 VPD
46,759LEASEABLE SF
WOODINVILLE-SNOHOMISH ROAD
WOODINVILLE WEST RETAIL
CENTER
DOUG'S BOATS SITE CURRENTLY
FOR SALE
Site Plan
SITE PLAN NOT TO SCALE
SITE PLAN KEYSUITE TENANT 1 Brightmont Academy 2&3 JK Personal Training 4 Available 5 Northwest Martial Arts 6 Available 7 The Gift Horse 8 Available 9 India Palace/Cookhouse Bar
SUITE TENANT 10 Cruzin Kidz 11 Janell’s Gluten Free Market 12 Woodgate Cleaners 13 Edward Jones 14 Teriyaki Bowl 15 Available 16 NY Nail Bar 17 Mi Terra Restaurant 18 Available
1
2
35
79
11
10 124
8
6
13141516
17
18
WOODINVILLE WEST RETAIL
CENTER
PASS-THRU COMMON AREA
WITH TWO EXTERIOR ENTRANCES AND INTERIOR ACCESS TO FOUR SUITES
PAGE 13
Featured Photography
Featured Photography
PAGE 15
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The information in this Executive Summary has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. All rights reserved to Capital Pacific, LLC.
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SEAN [email protected]: 206.693.3352
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SCOTT [email protected]: 503.675.8383
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CONFIDENTIALITY AGREEMENT FOR FULL EXECUTIVE SUMMARY, CLICK HERE.
