Property Details

4440 Chennault Beach Road

Mukilteo, WA 98275

$26,000,000

Available

CBA# 715796 courtesy of CBA Listing firm: Colliers International WA, LLC

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Industrial

Property Type

125,282

Bldg Sq Ft

7.00%

Cap Rate

1978

Year Built

Property Overview

The HERS Industrial Park in Mukilteo (WA) is a rare opportunity to acquire a multi-building industrial complex that caters to the smaller industrial tenant. The property is located in the South Everett/Mukilteo Industrial market that totals approximately 27M square feet, of which approximately 1.7M square feet is vacant (6.30%) which is primarily comprised of “big box” industrial vacancies over 50,000 square feet. This land constrained market has remained incredibly strong over the last several years and is becoming institutionally sought after due to strong absorption and growing rental rates. Developments of this type are no longer being built as a result of rising land + construction prices and in high demand due to virtually no availability for spaces under 10,000 square feet.