I-5 Technology Center
Top-of-its-class concrete and steel construction that exemplifies excellence in design.
Marketing description
The building was constructed in 2000 to the highest standards, exceeding most conventional Class A office buildings in the Seattle area. The building has been extensively renovated and features a grand lobby with a free-floating steel staircase beneath a large multi-paneled skylight. The building has upgraded electrical and data capabilities and an above-market parking ratio. Totaling 100,295 square feet, the I-5 Technology Center is located directly adjacent to a major intersection off of Interstate 5 and within one mile of The Federal Way Commons, one of the largest lifestyle centers in the greater Puget Sound region.
Investment highlights
PRICING RANGE
$14M LIST PRICE
$139.59 LIST PRICE PSF
IMPLIED CAP RATE
5.66% IN PLACE 58% OCC.
11.55% YEAR 2
7.26% YEAR 1
13.67% YEAR 3
UNLEVERAGED IRR
12.54% 10-YEAR HOLDING PERIOD. DEBT ASSUMPTION: FIXED RATE DEBT, 7.25%, 25 YEAR AMORT, 50% LTV. DEBT VERIFIED WITH CRUX, JANUARY 2025.
LEVERAGED IRR
15.14% 10-YEAR HOLDING PERIOD (INTEREST RATE 7.25%)
ARGUS MODEL AVAILABLE UPON CONFIDENTIALITY AGREEMENT EXECUTION.
100,295 PROPERTY SF
$764,709 IN-PLACE NOI
$980,490 YEAR 1 NOI
$1,559,297 YEAR 2 NOI
$1,845,282 YEAR 3 NOI
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