3321 184th St SW, Lynnwood, WA 98037

New 15-year Absolute Net Lease

» Kura Sushi USA, Inc. signed a new 15-year lease with zero Landlord obligations.

Kura Sushi Credit

» The lease is corporately guaranteed by Kura Sushi USA, Inc.

• 650+ locations globally, 83 US locations

• $283M revenue TTM

• $840M market cap

Free- Standing Pad Building

» The opportunity to acquire a free-standing retail pad in the Alderwood trade area is extremely rare.

» Retailer demand for free-standing pad buildings in core trade areas is extremely robust.

» This is the only free-standing Kura Sushi building in the U.S.

Newly Renovated/Tenant Capital Commitment

» Kura Sushi completed over $3M in a full building remodel in 2025.

Superior Location

» Pad building to a high-performing H-Mart grocery anchored shopping center.

» Located across the street from the 1.3 million SF Alderwood Mall

• One of the top performing malls in the state

• Recent mall redevelopment and expansion

• 10.5 million total visits per year (Placer.Ai)

» Located 2 miles from the new Lynnwood Light Rail Station

» The site is embedded within a dynamic and high-growth trade area. Within a 5-mile radius of the site, there are over 365,000 people and average household income exceeds $150,000.

» Nearby retailers include H-Mart, Ross Dress for Less, Costco, Home Depot, Target, Kohl’s, HomeGoods, Nordstrom, JC Penney, Macy’s, and Daiso.

» An exceptional chance to invest in a single tenant property in a highly sought-after location. The asset is positioned just northwest of Alderwood and is shadow anchored by H-Mart - the #1 location for the H-Mart Pacific NW brand of stores at 1.9M total visits over the past 12 months (Placer.Ai).

» Lynnwood Place has developed several properties adjacent to the subject within the last 10 years including a 500-unit multifamily development, Home Depot and Costco.

» Located ¾ of a mile from the I-5 & 405 interchange – the most heavily trafficked freeways in the state.

Contracted Rental Increases

» Kura Sushi’s lease contains 10% increases every five years increasing the initial cap rate by approximately 50 basis points every five years.

H-Mart Grocery Anchored

» Although not a part of the offering, H-Mart provides significant draw and stability to the property.