Overview

The Offering

Kidder Mathews is pleased to present the 1000 Station Drive offering for sale in DuPont, WA. Located in Pierce County between Tacoma and Olympia with visibility from I-5, this offering consists of a beautifully maintained 20,500 SF office building with significant surface parking surrounding the building. Built in 2002, the building has long been owned and occupied by the Better Business Bureau, which is in the process of moving their operations. Along with the second floor office space occupied by the Better Business Bureau, several other long term tenants occupy suites on the ground floor providing a prospective buyer with existing, stable cash flow and an ability to either occupy or add value by leasing the top floor.

Located along I-5 with excellent visibility to the 111,000+ daily commuters, this property is 30 minutes from Tacoma to the north and 20 minutes from Olympia to the south. With Joint Base Lewis-McChord surrounding the area, over 200,000 active and retired military personnel and family live in and around DuPont creating a healthy, and stable, economic environment.

Offering Process

The 1000 Station Drive offering presents a unique opportunity for either an owner / user or an investor to acquire a meticulously well-maintained office building in a high growth market. This offering is being presented for sale for $4,950,000. The ownership will review offers as received.

Investment Highlights

  • Cash flow from long term, stable tenants
  • Excellent access to I-5 & visibility to over 111,000 daily commuters
  • Substantial amount of surface parking
  • Close proximity to Joint Base Lewis-McChord
  • Well-maintained building on beautifully-manicured site
  • Low operating expenses and minimal management required
  • Building situated on the only land zoned for office use in DuPont

Property Details

Site Overview

Address 1000 Station Drive, DuPont, WA
Site Area 72,782 SF
Parking 81 paved & striped stalls
4.05:1,000
Parcel # 300050-003-1 Pierce County
Frontage 273 Lineal Feet along right-of-way of I-5
Visibility From Northbound and Southbound I-5
Land-to-Building Ratio 3.55:1

Building Information

Total Gross SF 20,517 SF
Net Rentable First Floor
Net Rentable Second Floor
Total Net Rentable
9,444 SF
9,534 SF
18,978 SF
Year Built 2002
Foundation Reinforced concrete slab-on-grade
Interior & Exterior Walls Wood framed
Roof Wood frame hip / Standing seam metal cover
Ceiling Suspended acoustical tiles with recessed lighting fixtures in most areas
Floor Combination of carpet, ceramic, or vinyl tiles
Plumbing Multi-fixture men's and women's restrooms on each floor
HVAC Units mounted in attic
Fire Suppression Wet fire sprinkler system
First Floor
Second Floor

Location

DuPont

In recent years, DuPont has undergone a modern transformation, shifting towards a planned community. This community has a central focus on maintaining a balance of housing, jobs, and services, while emphasizing economic development. The success of this community can be attributed to tactical community planning, and sensible financial practices put in place by DuPont’s city officials. The growth in population is not to be overlooked; from 588 residents in 1995 to 9,497 in 2016, it is clear there is a draw to this peaceful, yet convenient community.

Dupont Statistics

  • Most of the city’s governance capacity is shifting towards economic development
  • In 1995, DuPont had a population of 588. The population in 2016 was 9,497
  • Finance, insurance, and real estate are the city’s largest sector, dominating 35% of employment for the last decade
  • DuPont’s unemployment rate is 2.5%, compared to Washington state’s 4.5%
  • In 1995, there were a total of 233 housing units—2015 counted 3,166 units
  • DuPont is particular about zoning—1000 Station Drive is just one of two areas zoned for office
  • The US military is a major contributor to DuPont’s economy. JBLM & Madigan Army Medical Center employ 63,000 civilian and military personnel
  • Military personnel account for the largest portion of DuPont’s residential population, with that trend on track to grow
  • DuPont is part of a regional collaboration garnering legislative supports to secure funding to address congestion along the I-5/JBLM corridor
  • In January 2018, two Amazon distribution centers settled in DuPont
  • 93.9% of DuPont’s residential housing is occupied

Joint Based Lewis-McChord

Joint Base Lewis-McChord (JBLM) is just 11 miles away from the 1000 Station Drive offering and is the fourth largest military base in the world. The United States’ Army Fort Lewis base merged with United States’ Air Force McChord Air Force base to form Joint Base Lewis-McChord in 2010. The base has four medical facilities on site and serves 209,000 active and retired military personnel and their families. The Northwest Joint Regional Correctional Facility houses minimum to medium security prisoners.

JBLM STATISTICS

  • Joint Base Lewis-McChord is the largest public employer in Pierce County
  • The combination of military personnel, family members, and retired veterans bring the collective population of JBLM to 209,000—or 24% of Pierce County’s 2015 population
  • 120,000 retired veterans
  • Fourth largest military base population in the world—209,000
  • Largest land area military base in the United States—645 square miles
  • In 1995, there were a total of 233 housing units—2015 counted 3,166 units
  • There are just over 6,000 housing units on the JBLM base, presenting additional nearby housing needs
  • 10 early learning centers, 3 elementary schools, 1 middle school, and 1 high school

Public Transit / Traffic Count Aerial

Nearby Amenities

DEMOGRAPHICS - POPULATION & INCOME 1 Mile 3 Miles 5 Miles
Population 4,962 23,857 41,356
Average Household Income $80,728 $77,465 $71,402
Median Home Value $295,781 $292,687 $271,812
Renter-Occupied Median Rent $1,272 $1,315 $1,085

Due Diligence

Please register to go to gain access to the due diligence documents, which includes the offering memorandum.