| INVESTMENT GRADE TENANT: The lease is guaranteed by the State of Washington (Moody’s Aaa, the highest possible rating) |
| FIRM 10-YEAR LEASE: Washington Department of Corrections (WA DOC) signed a 10-year lease through December 2030 |
| SIGNIFICANT RENT UPSIDE: Current rent of $14.25/SF is 21% below market providing strong mark-to-market potential upon lease renewal |
| MISSION-CRITICAL USE: WA DOC facility for community supervision, offender rehabilitation, and regional administration |
| MAJOR RECENT RENOVATION: $400,000+ renovation in 2021 upgrading the interior, exterior, and mechanical systems minimizing near-term CapEx requirements |
| KEY LOCATION: Situated in the heart of West Central Spokane, this location ideally supports the tenant with ample parking & mass transportation |
Stren Lea
Lee & Associates Commercial Real Estate Services
