Diamond Foundry

JLL is pleased to present the opportunity to acquire a single-tenant net lease investment in Diamond Foundry, a pioneering lab-grown diamond company, located at 1610-1614 N Miller St in Wenatchee, WA (the “Property”). Diamond Foundry (the “Tenant”), an innovative startup with positive cash flow has 11.1 years remaining on a NNN lease with 1.5% annual rent bumps and one 15-year renewal option. The Property consists of two buildings totaling 82,652 SF, with substantial power infrastructure to support Tenant operations.

This offering presents a unique opportunity to invest in a state-of-the-art facility occupied by an industry leader in the growing lab-grown diamond and semiconductor technology sectors. Diamond Foundry has invested $400 million in equipment and tenant improvements, demonstrating their long-term commitment to the location. The company's innovative technology and strong market position (90% market share of the global large diamond market) make this an attractive investment in a stable and growing market.

The property is strategically positioned in Wenatchee, the urban center of North Central Washington, known for its diverse and thriving community. Wenatchee has experienced significant economic diversification in the past decade, with strengths in hydroelectric power, healthcare, technology, and tourism industries. The region benefits from clean, renewable hydropower energy, which has attracted data centers and tech companies to the area.

Wenatchee has seen substantial population growth, with a 500% increase from 2000 to 2020. The local area boasts an average household income of $90,000 and a thriving economy with an annual GDP of $7.4 billion (2023). The property benefits from its proximity to the BNSF railway and access to significant power infrastructure, with a 28 MW total power reservation.