910 S Burlington Blvd - Freestanding FOR SALE


Burlington, WA 98233
$4,360,000 USD
206-898-9191
910 S Burlington Blvd, Burlington, WA for Sale
$4,360,000 USD
Freestanding - FOR SALE
1/6
null | 6.24% Cap Rate

910 S Burlington Blvd
Burlington, WA 98233


OVERVIEW

This two-tenant center is occupied by Sherwin-Williams and Big 5 Sporting Goods on long-term leases. Sherwin-Williams recently signed a new, 10-year lease and Big 5 exercised a 5-year extension option to their original primary lease term that started in 1994. The Sherwin-Williams Company (NYSE: "SHW"), ranked #175 on the Fortune 500 list, has signed a new 10-year net lease to a strong and growing corporate tenant. The lease includes scheduled rental increases in the option periods. Rated "BBB" by Standard & Poor's, Sherwin-Williams has demonstrated robust financial performance, growing its EPS by 11% per year over the last three years. Big 5 Sporting Goods, a publicly traded company on Nasdaq under the ticker BGFV, has been the original tenant of the building since its construction in 1994. Recently, Big 5 executed a 5-year renewal at the market lease rate, reinforcing its long-term commitment to the location. Situated on Burlington Blvd, the primary north/south commercial arterial, this hard corner location boasts traffic counts exceeding 22,000 cars daily. It offers multiple ingress and egress points and is a pad site to a busy Fred Meyer Center.

FOR SALE DETAILS

PRICE

$4,360,000 USD

PRICE/SF

$292 USD /SF

CAP RATE

6.24%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Big 5 Sporting Goods

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1995

SPRINKLERS

-

PARKING SPACES

44

LAND DETAILS

LAND ACRES

0.92 AC

LAND SF

40,075 SF

ZONING

-

APN/PARCEL ID

P23561

ASK ABOUT THIS PROPERTY

Erik SwansonKidder MathewsMore Info
206-898-9191

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Erik SwansonKidder MathewsMore Info
206-898-9191

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.