10.47% CAP
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no data
Mixed Use
Property Type
No NOI data
Net Operating Income (NOI)
6 unit(s)
Total Units
10.47%
CAP RATE
6
Leasable Doors
No price data
Price per unit
Northmarq, in connection with Federal National Finance Corporation, is pleased to offer for sale to qualified investors the opportunity to acquire a 6 building office portfolio located in the Stevens Center Business Park in Richland, Washington (the “Property”). The Property is 95.1% leased to 6 companies, including the United States Government operating as the U.S. Department of Energy (“DOE”) who has been a tenant here since 2012.
The U.S. Government carries an investment-grade credit rating of AA+ by Standard & Poor’s and Aaa by Moody’s.
The other tenants include Battelle Memorial Institute (“BMI”), Navarro-ATL, Washington River Protection Solutions (“WRPS”), Bechtel National (“BN”), and Central Plateau Cleanup Company (“CPCC”).
The other tenants include Battelle Memorial Institute (“BMI”), Navarro-ATL, Washington River Protection Solutions (“WRPS”), Bechtel National (“BN”), and Central Plateau Cleanup Company (“CPCC”).
BMI has been a tenant in this location for almost 45 years, since 1979. WRPS has been a tenant here since 2009, BN has been a tenant here since 2011, and CPCC has been a tenant here since 2016. That’s an average of over 18 Years between these tenants. They currently have a Weighted Average Lease Term remaining of just over 4.7 Years. The average occupied rent is very reasonable across the portfolio at just over $20 PSF. Market rents are estimated to be closer to $28 PSF.
