GRAVITY COFFEE 72ND FOURTH PLAIN BLVD VANCOUVER, WA - *NOT ACTUAL SITE - Mountain West Commercial Real Estate
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*NOT ACTUAL SITE
GRAVITY COFFEE
~72ND FOURTH PLAIN BLVD BEN BROWN SCOTT BRADY
bbrown@mtnwest.com sbrady@mtnwest.com
VANCOUVER, WA direct 801.456.8802 direct 801.456.8804
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TABLE
OF CONTENTS
4 INVESTMENT
SUMMARY
PROPERTY
5 FEATURES
6 SITE PLAN
10 TT MAP
15 DEMOGRAPHICS
12 TENANT PROFILES
GRAVITY COFFEE CO
2 Mountain West Commercial | Office 801.456.8800 | www.mtnwest.com
GRAVITY
COFFEE CONFIDENTIALITY AND DISCLOSURE
~72ND FOURTH PLAIN BLVD Mountain West Commercial Real Estate has been retained on an exclusive basis to market the property
VANCOUVER, WA 98662 described as ~72nd Fourth Plain Blvd, Vancouver, WA 98662. Broker has been authorized by seller of
the property to prepare and distribute the enclosed information for the purpose of soliciting offers to
purchase from interested parties. More detailed financial, title and tenant lease information may be
made available upon request following the mutual execution of a letter of intent or contract to purchase
PREPARED BY between the Seller and the prospective purchaser. You are invited to review this opportunity and make an
offer to purchase based upon your analysis. If your offer results in the Seller choosing to open negotiations
BEN BROWN with you, you will be asked to provide financial references. The eventual purchaser will be chosen based
bbrown@mtnwest.com
upon an assessment of price, terms, ability to close the transaction and such other matters as the Seller
direct 801.456.8802
View Profile deems appropriate.
The Material is intended solely for the purpose of soliciting expressions of interest from qualified investors
SCOTT BRADY for the acquisition of the Property. The Material is not to be copied and /or used for any other purpose or
sbrady@mtnwest.com made available to any other person without the express written consent of Broker or Seller. The Material
direct 801.456.8804
does not purport to be all-inclusive or to contain all of the information that a prospective buyer may
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require. The information contained in the material has been obtained from the Seller and other sources
and has not been verified by the Seller or its affiliates, agents, representatives, employees, parents,
subsidiaries, members, managers, partners, shareholders, directors, or officers, makes any representation
or warranty regarding such pro forma. Purchaser must make its own investigation of the Property and any
existing or available financing, and must independently confirm the accuracy of the projections contained
in the pro forma.
Seller reserves the right, for any reason, to withdraw the Property from the Market. Seller has no obligation,
express or implied, to accept any offer. Further, Seller has no obligation to sell the Property unless and
until the Seller executes and delivers a signed agreement of purchase and sale on terms acceptable to the
Seller, in its sole discretion. By submitting an offer, a purchaser will be deemed to have acknowledged the
foregoing and agreed to release Seller and Broker from any liability with respect thereto.
Property walk-throughs are to be conducted by appointment only. Contact Broker for additional
information.
Mountain West Commercial | Office 801.456.8800 | www.mtnwest.com 3
EXECUTIVE SUMMARY & HIGHLIGHTS
PRICING • 25-year Absolute NNN Lease with 10% annual increases throughout the primary
term and option periods
PURCHASE PRICE $1,776,000
• Strong location being located in Vancouver’s highly populated shopping and
NET OPERATING INCOME $88,800 auto mall district with 277,200+ total population within a 5-mile radius and an
CAP RATE 5.00% average household income of $86,000+
LEASE INFORMATION • Area tenants include Walgreens, WinCo Foods, Barnes & Noble, PetSmart,
Wendys, McDonalds, Jack in the Box, Arby’s, Pizza Hut, O’Reilly Auto, Goodwill,
TENANT TRADE NAME Gravity Coffee
Chuck E. Cheese
Gravity Coffee Company,
LEASE GUARANTOR
LLC; Maximo Ansola III*
LEASE TYPE NNN
COMMENCEMENT EST. 12/1/2021 OPTIONS & ESCALATIONS
EXPIRATION EST. 11/30/2046 MONTHLY ANNUAL %
LEASE TERM START EXPIRATION RENT/SF
RENT RENT INCREASE
LEASE TERM 25 Years YEARS 1-5 12/1/2021 11/30/2026 $7,400.00 $88,800.00 $101.49
LEASE TERM REMAINING 25 Years YEARS 6-10 12/1/2026 11/30/2031 $8,140.00 $97,680.00 $111.63 10.00%
RENTAL INCREASES 10% Every 5 Years YEARS 11-15 12/1/2031 11/30/2036 $8,954.00 $107,448.00 $122.80 10.00%
EXTENSION OPTIONS Five (5) year options YEARS 16-20 12/1/2036 11/30/2041 $9,849.40 $118,192.80 $135.08 10.00%
TENANT'S FIRST RIGHT OF YEARS 21-25 12/1/2041 11/30/2046 $10,834.34 $130,012.08 $148.59 10.00%
No
REFUSAL
OPTION 1 12/1/2046 11/30/2051 $11,917.77 $143,013.29 $163.44 10.00%
PROPERTY TAXES Tenant Responsible
OPTION 2 12/1/2051 11/30/2056 $13,109.55 $157,314.62 $179.79 10.00%
INSURANCE Tenant Responsible
OPTION 3 12/1/2056 11/30/2061 $14,420.51 $173,046.08 $197.77 10.00%
UTILITES Tenant Responsible
OPTION 4 12/1/2061 11/30/2066 $15,862.56 $190,350.69 $217.54 10.00%
MAINTENANCE Tenant Responsible
OPTION 5 12/1/2066 11/30/2071 $17,448.81 $209,385.75 $239.30 10.00%
PROPERTY INFORMATION
Note: Commencement Start and Expiration date are estimates
72nd Fourth Plain Blvd,
PROPERTY ADDRESS
Vancouver, WA 98662
GROSS LEASABLE AREA (SF) 875
LAND SIZE (AC) 0.27 AC
YEAR BUILT Delivery Q4 2021
*Gravity Coffee Company Owner
PROPERTY FEATURES & LAND OVERVIEW
PROPERTY FEATURES
SITE FRONTAGE & ACCESS
Located on Fourth Plain Boulevard Access points to the center include
just off arterial road, Anderssen three (3) entrances off Burton Rd and
Road NE Fourth Plain Blvd, one of which is
LAND AREA signalized.
0.27 acre or 11,780 square feet TRAFFIC COUNTS
BUILDING AREA 12,619 ADT on Fourth Plain Blvd
2816
The subject property consists of 32,633 ADT on Anderssen
a freestanding building totaling YEAR BUILT
approximately 584 of gross leasable Q4 2021
area. 2815
ZONING
C-Commercial
1 62941 000
0. 27
LAND OVERVIEW
APN # ACRES SF
162941000 0.27 11,780
Mountain West Commercial | Office 801.456.8800 | www.mtnwest.com 5
SITE PLAN
RENDERING
GRAVITY COFFEE CO
6 Mountain West Commercial | Office 801.456.8800 | www.mtnwest.com
SITE PLAN
k:\21000723\dwg\plan sets\site-preliminary\20000723-sp.dwg COPYRIGHT C 2020 ATWELL LLC NO REPRODUCTION SHALL BE MADE WITHOUT THE PRIOR WRITTEN CONSENT OF ATWELL LLC
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Mountain West Commercial | Office 801.456.8800 | www.mtnwest.com
7
TT MAP
1,022 ADT
1,800 ADT
2,511 ADT 2,511 ADT
2,846 ADT 2,511 ADT
T
0 AD
61 ,00
2819
32,633
43,000 ADT
ADT
2816
ADT
2815
12,619
12,619
ADT SI TE
2 ADT
18,57
T 5,49
8 2 AD
19,6
7A
DT
2817 3,200 ADT
2818
25,46
9,109 ADT
2 ADT
GRAVITY COFFEE CO
T
8
47 AD
Mountain West Commercial | Office 801.456.8800 | www.mtnwest.com
ANCHOR TENANT PROFILE
WHO WE ARE
We opened our first store in Tacoma, Washington in 2015. Today, we are developing
32 stores in Western United States with sights set to establish our revolutionary brand
across the entire U.S. For more information on growth and expansion please follow us
on Instagram for new location updates!
Our DNA code of loyalty, passion and distinction enables us to fuel the GC demand.
We know it’s not about doing one thing right. It’s about doing a million things right. It Locations: 13 just in Puget Sound
all starts with you! Our number one priority is our customers’ happiness and satisfaction. 8 currently under construction
This drives us to deliver an exclusive collection of full-flavored and diverse beverages for
everyone – adults and children alike. We are changing the way people think about the
Drive Thru experience, come see for yourself and find your new favorite GC beverage. Founded: 2015 in Tacoma, Wa
Outweighing the Competition Privately held company modernizing the
The Gravity Coffee goal is to have a wait time of two and a half minutes at most and personalized drive-thru coffee experience.
receives a number of customers who don’t want to wait in line. Unlike other coffee stands,
Gravity Coffee stands have doors so employees can go outside, greet their customers,
take orders, and process payments.
https://gccoffee.com/
Mountain West Commercial | Office 801.456.8800 | www.mtnwest.com 9
VANCOUVER, WASHINGTON
POPULATION MEDIAN AGE HOUSEHOLDS
185,000+ 37.9 XXX,XXX
AREA INFORMATION MEDIAN HOUSEHOLD INCOME
VANCOUVER, WASHINGTON
$63,500
The Clark County Office Submarket has improved
substantially since the turn of 2018. The market has
had positive absorption over the past five years and
decreased vacancy during the same period.
The vacancy rate has declined from the previous five
years and substantial new product is being added with
delivery of the Hudson Building Convene and delivery
of The Murdock on The Vancouver Waterfront. In 2019,
WASHINGTON
the current overall vacancy rate is 6.7% (1Q 2019), which WASHINGTON WASHINGTON
has trended downward since it peaked at 15.3% in
2010.
#3 BEST #1 BEST
Local Clark County brokers indicate the overall office
STATE IN STATE FOR #4 BEST
EDUCATION
market has been steadily improving with increased
rates, leasing activity, and buyers interested in
purchasing commercial real estate. The Clark County ENERGY MILLENIALS
US NEWS
US NEWS
SEATTLE TIMES 2019
Office Submarket is expected to continue to improve in 2021
MAR, 2021
step with the larger overall regional economy.
WASHINGTON
10
GRAVITY COFFEE CO
Mountain West Commercial | Office 801.456.8800 | www.mtnwest.com
#1 STATE OVERALL
US NEWS — MARCH, 2021WHY VANCOUVER, WASHINGTON?
• Vancouver, Washington is in Clark County, one of the fastest growing regions in
Washington state and in the Portland-Vancouver metropolitan area. With easy access
to Portland International Airport; the Ports of Vancouver, Camas-Washougal and
Ridgefield; and rail and major north/South traffic via Interstate-5 and Interstate-205
freeways, Clark County and Vancouver are an important hub for the Northwest.
Vancouver is a thriving and diverse community with a population of more than 474,643
covering approximately 656 square miles. With a median age of 37.9, the city is quickly
becoming a popular destination for families and professionals looking for affordable
living and good school districts.
• Median home values in Vancouver are at $250,000 and the high school graduation rate
is at 91.7%. Vancouver has also appealed to businesses attracted by lower real estate
costs. Clark County and Vancouver have also continued to attract technology firms,
driven by many of the same factors propelling Oregon’s rebound across the Columbia
River. Broader economic strength is boosting sales and exciting investors. Just as
Oregon has thrived as low-cost alternative to the Bay Area and Seattle, Clark County
should be considered also. The educated workforce in Clark County has continued
to expand with 42.7% of the population with some college and 28% with bachelor’s
degree or higher.
#1 BEST STATE #1 TOP STATE FOR
OVERALL BUSINESS
JUNE, 2020 JULY, 2017
Mountain West Commercial | Office 801.456.8800 | www.mtnwest.com 11POPULATION JOB GROWTH
185,000+
VANCOUVER
4.8%
WASHINGTON
475,000+
CLARK COUNTY
1.5%
NATIONAL
DWS, NOV 2019
STATE, PERSONAL, OR JOB GROWTH
CORPORATE INCOME TAX
0.00% 4.8%
WASHINGTON
WASHINGTON
6.87% 1.5%
NATIONAL
NATIONAL CORPORATE TAX
TAX FOUNDATION, 2018 DWS, NOV 2019
MEDIAN HOUSEHOLD MEDIAN AGE
INCOME
$63,500
CLARK COUNTY
37.9
WASHINGTON
$56,300
NATIONAL
37.8
NATIONAL
US CENSUS, 2017 US CENSUS, ACS 2017
HIGHLIGHTS
• 20 MIN to downtown Portland • 19,000+ new Clark County residents
• 8.9% Median SFR sale price (2016)
increase (2017) • 90 MIN flight to Silicon Valley or
Seattle
GRAVITY COFFEE CO
12 Mountain West Commercial | Office 801.456.8800 | www.mtnwest.comDEMOGRAPHICS
POPULATION BUFFERS - 1, 3, 5 MILES
1 MILE 3 MILES 5 MILES
16,466 119,809 277,272
2021 EST. 2021 EST. 2021 EST.
POPULATION POPULATION POPULATION 5 M il es
1 MILE 3 MILES 5 MILES
17,625 126,109 294,728
2026 EST. 2026 EST. 2026 EST.
3 M il es
POPULATION POPULATION POPULATION
1 M il e
HOUSEHOLDS & MEDIAN INCOME
1 MILE 3 MILES 5 MILES
6,872 49,267 110,665
2021 EST. 2021 EST. 2021 EST.
HOUSEHOLDS HOUSEHOLDS HOUSEHOLDS
1 MILE 3 MILES 5 MILES
$59,104 $66,903 $72,290
2021 EST. 2021 EST. 2021 EST.
INCOME INCOME INCOME
Mountain West Commercial | Office 801.456.8800 | www.mtnwest.com 13*NOT ACTUAL SITE
GRAVITY
COFFEE
~72ND FOURTH PLAIN BLVD
VANCOUVER, WA 98662
PREPARED BY
BEN BROWN
bbrown@mtnwest.com
direct 801.456.8802
View Profile
SCOTT BRADY
sbrady@mtnwest.com
direct 801.456.8804
View Profile
312 East South Temple, Salt Lake City, UT 84111
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