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Jones Lang LaSalle (“JLL”), as exclusive advisor, is pleased to present the opportunity to acquire REI Silverdale at 10903 Myhre Road (the “Property”), a single tenant retail property located in Silverdale, Washington, just across the Puget Sound from Seattle. The Property includes a 23,500 square foot building with visibility from Highway 3 and Highway 303 and a signed entry off Silverdale Way. The Property is 100% leased to REI (Recreational Equipment Inc.), who has recently renewed their lease for 10 years, yielding a reliable cashflow for new ownership.
Located at the northern intersection of SR-303 and SR-3 and featuring a parking ratio of 5.8 per 1,000 square feet, REI Silverdale is highly accessible to the Silverdale and greater Kitsap County population. Traffic volume for this area amounts to over 60,000 vehicles per day. The retail Property is in the heart of Silverdale’s greater community center featuring a diverse mix of restaurants, schools, experiential retail locations, and medical tenants. While REI has several locations in Seattle and Bellevue, REI Silverdale is the only REI on the Kitsap Peninsula and Olympic Peninsula.
- 100% leased for 11.25 years
- High freeway visibility
- 5.8 stalls per 1,000 parking ratio
- The only REI west of Seattle
- Kitsap Peninsula’s retail destination
- Strong employment base