6275 Blimp Blvd, Tillamook, OR 97141

U.S. FEDERAL GOVERNMENT CREDIT

Single-tenant facility leased to the U.S. Federal Government, guaranteed by the full faith and credit of the United States of America, providing exceptional income durability and credit quality

20-YEAR FIRM LEASE – NO TERMINATION RIGHTS

New lease for a 20-year firm (non-cancellable) term commenced in December 2024 with U.S. General Services Administration; 20-year lease term is the maximum allowable length per federal contracting regulations, demonstrating significant tenant commitment to the property

2024 BUILD-TO-SUIT CONSTRUCTION

New 2024 build-to-suit construction, specialized to meet the specific requirements of the Bureau of Land Management (BLM), consisting of office, warehouse, cold storage, and wareyard area, providing space requirements that are essential to the mission and operations of BLM

$4.3 MILLION IN TENANT-FUNDED IMPROVEMENTS ($305 Per Sq Ft)

Tenant-funded improvements in excess of $4.3 million ($305 per square foot) evidences the significant investment in this location by BLM and creates an attractive asset basis that is below current and future replacement costs

ESSENTIAL BUREAU OF LAND MANAGEMENT OPERATIONS

The BLM Tillamook Field Office is part of the Northwest Oregon District, and is responsible for extensive timberland management including fire management and prescribed burns, recreational offerings, habitat and fisheries conservation projects, and many additional functions that are essential to the BLM mission; the BLM Tillamook Field Office has a staff of 28 employees and manages over 104,000 acres, overseeing an average of 20 – 25 million board feet in annual harvest

RELOCATION OF EXISTING TILLAMOOK BLM FIELD OFFICE

The new BLM Tillamook Field Office serves as a relocation to the Port of Tillamook and a replacement of the prior BLM building within the Tillamook market, which was 35 years old and originally constructed in 1990