6955 Salashan Parkway Ferndale, WA 98248
6.25% cap rate with 5% vacancy credit loss on an Absolute Net Lease. 5-year renewal just executed with first year rate established at $54, 167 per month with annual bumps. Lease includes 2 additional 5-year lease renewal options at market rent. Strong international tenant with excellent rent history. Two buildings, 100k sq ft combined, side by side on 7 acres in North Ferndale. 1 – 40k sq ft and 1 – 60k sq ft fully sprinkled steel buildings that include a mix of grade and dock high doors. Coupon Clipper offered at below replacement cost.
Address: 6955 Salashan Parkway
Square Feet: 304,920
Year Built: 1998