commercial property located just north of Kendall Yards, offering unmatched convenience and visibility with high traffic counts and seamless access off Maple Street. This standout asset is anchored by a 10-year lease with the Washington State Department of Corrections, a highly secure, investment-grade tenant backed by the State of Washington’s AA+ Fitch rating.
Key highlights of this property include a competitive lease rate of $14.25/SF, presenting immediate potential for future upside compared to market rates averaging $17–18/SF. Recent improvements totaling over $400,000 have modernized the building, ensuring it is positioned for long-term tenant satisfaction and reduced capital expenses.
Situated in a rapidly growing area with over 225,000 residents within a 5-mile radius and an anticipated 6.38% growth rate, this property benefits from strong local demographics and demand. Additionally, Washington State's income tax-free environment further enhances the appeal for businesses and investors alike.