Monroe Industrial_Property for Sale
Monroe Industrial_Property for Sale
Monroe, WA, US, Americas

Monroe Industrial

Portfolio description

JLL Industrial Capital Markets, as exclusive advisor, is pleased to present the opportunity to acquire the 100% fee-simple interest in 17045 & 17105 Tye St SE (the “Portfolio” or the “Offering”), a 109,401 square foot industrial portfolio situated on 2 separate parcels totaling 5.31-acres located in Monroe Washington.


The buildings feature 21-foot to 26-foot clear heights with 14 dock high and 3 grade level doors, ample parking, and strong street visibility from Tye Street SE and Highway 2. The Portfolio is currently 100% leased to established manufacturing and service companies, PPR Industries, NW Metals, and Southern Glazer’s Wine & Spirits. The tenants’ weighted-average-lease-term (WALT) is 4.2 years with multiple extension options for Southern Glazer’s Wine & Spirits and NW Metal. NW Metal’s newly signed 7-year lease (plus (3) 3-year renewal options at FMV) provides ownership a durable income stream day one and mitigates downside by ensuring rents are marked to market during each extension term. The near-term lease expiration of PPR Industries provides a compelling opportunity for an owner-user occupant who can harness the ability to control their occupancy costs while simultaneously building equity.


For Investment Sales & Advisory, please contact:


James "Buzz" Ellis, SIOR

Managing Director

+1 503 680 5100

buzz.ellis@jll.com

Licensed in OR


Brent Jackson

Sr Vice President

+1 425 974 4015

brent.jackson@jll.com

Licensed in WA


Gabriel Smith 

Vice President

+1 425 974 4029

gabe.smith@jll.com

Licensed in WA

...

Attributes

Building area gross
10,163 m²
Land area gross
2.15 ha
Occupancy
100%
WAULT
4.2 years
Parking spaces
88
Monroe Industrial (2 Properties)
Monroe Industrial (2 Properties)

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Investment Highlights

  • Near-term value-add and owner user potential
  • Separate tax parcels provide flexible exit strategies
  • Excellent location with convenient transportation
  • Attractive basis relative to replacement cost
  • Low vacancy and available space drive rental rates upward
  • Strategic location with multi-modal transportation capabilities
Monroe Industrial 4_Property for Sale
Monroe Industrial 4_Property for Sale

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Last updated
13 Mar 2024