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LACEY CROSSROADS

Shadow-Anchored Shopping Center with
Significant DEVELOPMENT Opportunity

 

INVESTMENT HIGHLIGHTS

 

PRICE: $18,390,000
CAP: 6.50%
IN-PLACE NOI: $1,195,631


 
 

5401 CORPORATE CENTER LOOP SE  LACEY, WASHINGTON 98503

 

OCCUPANCY
LEASABLE SF
LAND AREA
YEAR BUILT
DEBT
PARKING
ANCHOR

95%
±48,087 SF
±6.32 ACRES
2008 - 2016
FREE & CLEAR

±626 or 13/1,000 SF
LOWE'S HOME IMPROVEMENT (NAP)

 CORE CHARACTERISTICS

Shadow-anchored by Lowe’s with limited home improvement store competition

Parcelized exit strategy in individual pad sell-off

Recent leasing momentum and Repositioning

Exceptional scheduled rent growth in-place resulting in 32% increase in NOI over 10-year cash flow

Diversified tenant mix

Balanced rollover schedule with long-term leases in place

Offered free and clear of existing debt

 
 

LOCATION HIGHLIGHTS 

 Situated in a major growth area with over 4,300 units currently in various stages of development

Lacey economy fueled by proximity to state capital and Joint Base Lewis-McChord

Highly-trafficked location with combined traffic counts of nearly 40,000 vehicles per day