Credit enant Lease FOR SALE Updated Lynnwood | Western ...

[Pages:6]Credit Tenant NNN Lease

Lynnwood | Western Washington I-5 Corridor

FOR SALE

Updated Price

STEEL INDUSTRIES, INC.

SELF-SERVICE AUTO & TRUCK DISMANTLERS

a subsidiary of Schnitzer Steel Industries, Inc.

Investment Summary

? $4,800,000 ? Bank Financing Available ? 4.92% Initial Cap Rate ? 5.38% Minimum Blended

6 Year Cap ? $236,029 NOI ? 3% Minimum Annual Increases ? 6+ Years Remaining Term

? Four 5-Year Renewals

? 7.06 Acres Fully Developed

SITE

Everett

Lynnwood

Additional Information

Available with Confidentiality Agreement:

Seattle

Bellevue

18306 Highway 99 Lynnwood, WA 98037

Larry Ingraham, CCIM

Se42a5-t7t4le4-0900 eBxte.11llevue Larry@

? 2014 Emerald Properties Brokerage & Development, LLC | The information supplied in this package is from sources we deem reliable. It is provided without any representation, warranty or guarantee, expressed or implied, as to its accuracy | MM1320f | 1 of 6

Emerald Properties

Brokerage & Development, LLC

18009 Highway 99, Suite L Lynnwood, WA 98037 425-744-0900

Credit Tenant NNN Lease

Lynnwood | Western Washington I-5 Corridor

FOR SALE

Updated Price

Investment Summary

? $4,800,000 ? Bank Financing Available ? 4.92% Initial Cap Rate ? 5.38% Minimum Blended

6 Year Cap ? $236,029 NOI ? 3% Minimum Annual Increases ? 6+ Years Remaining Term ? Four 5-Year Renewals ? 7.06 Acres Fully Developed

SITE

186th Pl SW

Source: | ? 2013 Google

Pacific Highway 99 52nd Ave W

Investment Highlights

Fee simple ownership in land and improvements

Absolute NNN lease structure1

$3 Million +/- below land value2

Annual Increases

High barriers to entry use

Income tax free state

Available debt free

Tenant Summary

Pick-n-Pull

Operates 60+ self-service auto parts US & Canadian stores

A wholly owned subsidiary of Schnitzer Steel Industries, Inc. (SCHN NASDAQ) ? $2.6 Billion in revenue for 2013 ? $781 Million+ of stockholder equity

Tenant provides strong environmental indemnification

An industry leader in vehicle recycling ? 350,000 Vehicles per year ? 5,000,000 Retail Customers per year

1Landlord provides general liability insurance policy - less than $1,000 per year covering multiple locations 2Comp land sales from $25+ to over $30+ per SF

LaLraryrrIynIgnrgarhaahmam, ,CCCCIIMM

425-744-0900 ext.11 Larry@emeraldpreb.cdo.cmom

? 2014 Emerald Properties Brokerage & Development, LLC | The information supplied in this package is from sources we deem reliable. It is provided without any representation, warranty or guarantee, expressed or implied, as to its accuracy | MM1320f | 2 of 6

Emerald Properties

Brokerage & Development, LLC

18009 Highway 99, Suite L Lynnwood, WA 98037 425-744-0900

Credit Tenant NNN Lease

Lynnwood | Western Washington I-5 Corridor

FOR SALE

Updated Price

LaLraryrrIynIgnrgarhaahmam, ,CCCCIIMM

425-744-0900 ext.11 Larry@emeraldpreb.cdo.cmom

? 2014 Emerald Properties Brokerage & Development, LLC | The information supplied in this package is from sources we deem reliable. It is provided without any representation, warranty or guarantee, expressed or implied, as to its accuracy | MM1320f | 3 of 6

Emerald Properties

Brokerage & Development, LLC

18009 Highway 99, Suite L Lynnwood, WA 98037 425-744-0900

Credit Tenant NNN Lease

Lynnwood | Western Washington I-5 Corridor

Everett

164th St SW

ALDERWOOD MALL

Mukilteo

LYNNWOOD PLACE

AUTO CENTER

44th Ave W

SITE

LYNNWOOD

CIVIC

CENTER

52nd Ave W

FOR SALE

Updated Price

Bellevue

44th Ave W

Seattle

Park & Ride/Light Rail

176th St SW 180th St SW 188th St SW

200th St SW 196th St SW

N

? 2014 Emerald Properties Brokerage & Development, LLC | The information supplied in this package is from sources we deem reliable. It is provided without any representation, warranty or guarantee, expressed or implied, as to its accuracy | MM1320f

Emerald Properties

Brokerage & Development, LLC

18009 Highway 99, Suite L Lynnwood, WA 98037 425-744-0900

4 of 6

Credit Tenant NNN Lease

Lynnwood | Western Washington I-5 Corridor

FOR SALE

Updated Price

AUTO PARTS - DIVSION OF SCHNITZER STEEL 1

"Schnitzer's Auto Parts Business operatesPick-n-Pull, one of the nation's premier self-service used auto parts networks with 61 auto recycling facilities in 16 U.S. states and Western Canada dedicated to supplying customers with low-cost, quality used auto parts.

"We purchase approximately 350,000 used and salvaged vehicles annually from tow companies, private parties, auto auctions, city contracts and charitable organizations. After the autos are properly drained of fluids and hazardous materials are removed, the autos are then set in our well-organized yards for customers to select and pull valuable parts. We also sell some vehicles as "rebuilders." We receive over five million visits annually from our retail customers, including recreational mechanics, professional rebuilders, entrepreneurial business owners, volume resellers and collision repair shops.

"Each facility stocks a large number of domestic and foreign cars, vans and light trucks which are continually replaced by new arrivals to offer our customers a wide and fresh selection of parts from which to choose. At these self-service stores, the customer pays a nominal admission fee, finds a vehicle with the desired parts and removes them without the assistance of our store personnel. After a vehicle has finished its time in the customer area, our staff removes remaining recyclable nonferrous materials and valuable core parts that can be sold wholesale such as engines, transmissions and alternators, and sells them at auction. The remaining auto body is crushed and sold as ferrous scrap metal to metal recyclers, including our metals recycling facilities where geographically feasible.

"Why buy auto parts from Pick-n-Pull? It's simple:

Using our quality recycled parts saves money, energy, resources and landfill space Our huge inventory includes many hard-to-find parts Our parts are generally considerably less expensive than traditional parts sources Our shopping experience and excellent customer service can't be beat

"We remain competitive in our industry because of these reasons, plus our efficient processing of auto bodies and use of technology in managing our geographically diverse network of locations.

"Recycling, Sustainability and the Environment "Our vehicle disposal process recycles everything we possibly can. Countless parts are purchased by retail and wholesale customers as a sustainable and cost-effective alternative to purchasing from traditional parts sources. Parts that can be refurbished (i.e. radiators, alternators, compressors) are sold for remanufacturing. Many vehicle fluids including gasoline and oil are recycled. Ferrous and nonferrous metals are recycled and sold as raw materials for new products. All of this reuse reduces the amount of new products that need to be manufactured, not to mention the raw materials and energy needed to create them.

(Cont.)

1 This page is from and is ?2014 Schnitzer Steel.Industries, Inc.

? 2014 Emerald Properties Brokerage & Development, LLC | The information supplied in this package is from sources we deem reliable. It is provided without any representation, warranty or guarantee, expressed or implied, as to its accuracy | MM1320f | 5 of 6

Emerald Properties

Brokerage & Development, LLC

18009 Highway 99, Suite L Lynnwood, WA 98037 425-744-0900

Credit Tenant NNN Lease

Lynnwood | Western Washington I-5 Corridor

"Our environmental practices are a corporate priority. From our extensive experience, we have implemented standardized policies and procedures at all locations for managing vehicles and disposing of hazardous wastes. In fact, our best practices set many of the standards adopted by local communities as guidelines for others to follow.

"All of these efforts taken together protect the environment, beautify our neighborhoods and reduce the cost of new goods by returning valuable raw materials into production."

FOR SALE

Updated Price

Info on this page is from and is ?2014 Schnitzer Steel.Industries, Inc.

? 2014 Emerald Properties Brokerage & Development, LLC | The information supplied in this package is from sources we deem reliable. It is provided without any representation, warranty or guarantee, expressed or implied, as to its accuracy | MM1320f | 6 of 6

Emerald Properties

Brokerage & Development, LLC

18009 Highway 99, Suite L Lynnwood, WA 98037 425-744-0900

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