Arbor Business Park
Industrial | 6.20% CAP | 33,050 SqFt
Marketing description
Northmarq is pleased to present Arbor Business Park, a high-performing, value-add industrial asset offering investors a rare opportunity to acquire a multi-tenant small-bay business park with immediate upside and stable in-place cash flow. The property is currently 92.7% occupied, providing strong day-one income, while in-place rents remain nearly 50% below market, creating a clear path to forced appreciation through mark-to-market leasing. With a diversified tenant base and functional suite layout, the asset is well-positioned to capture continued demand from small-bay industrial users.
The offering is further supported by the exceptionally tight Kitsap County industrial market, where vacancy has consistently remained near historic lows (±2% range) due to limited new development and strong local demand. With a constrained supply pipeline and rising barriers to entry, existing industrial assets are positioned to benefit from continued rent growth and sustained occupancy levels.
Investment highlights
- MASSIVE MARK-TO-MARKET OPPORTUNITY - ±50% RENTAL UPSIDE: In-place rents average $0.79/SF vs. $1.15/SF market, creating a clear and immediate path to NOI Growth.
- HIGH-DEMAND SMALL-BAY INDUSTRIAL: 24 suites averaging 1,300 SF with grade-level doors is the most resilient and in-demand segment of the industrial market.
- ULTRA-LOW VACANCY SUBMARKET: Kitsap County industrial vacancy sits at 2.6% and has remained below 5% for nearly a decade.
- NNN LEASE STRUCTURE MINIMIZES EXPENSE RISK: All leases are NNN which provide investors with predictable inflation-protected income.
- STAGGERED LEASE STRUCTURE: Built-in lease rollover diversification limits exposure to any single tenant or expiration, allowing ownership to push rents systematically while maintaining stable cash flow.
- RARE "ALL-CONTROL" BUSINESS PARK: Full ownership of a 33K SF multi-tenant industrial park on 4+ acres provides complete control over leasing, operations, and future development.
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