100% LEASED OFFICE INVESTMENT OPPORTUNITY
3600 SOUTH 344TH WAY
FEDERAL WAY • WASHINGTON
100% LEASED TO CREDIT TENANTS DEVRY UNIVERSITY & ACS (XEROX)
9.4/1,000 SQ.FT. PARKING RATIO
ADDITIONAL DEVELOPMENT POTENTIAL
3600 SOUTH 344TH WAY • FEDERAL WAY, WA
Constructed in 2001, 3600 South 344th Way in Federal Way, WA is
a two-story Class “A” suburban office building totaling 97,216 square
feet and 100% occupied by DeVry University and ACS Commercial
Solutions. A two-story parking garage is also situated on the 11.72 acre
site providing over-standard parking for tenants. With long-term leases
to two national and financially stable tenants, the asset represents
an attractive investment for investors seeking stable cash-flow over
the lease term.
INVESTMENT SUMMARY
Total Building Area................................................................. 97,216 SF
Land Area.............................................................................. 11.72 acres
Year Built..........................................................................................2001
Parking Ratio...................................................................... 9.4/1,000 SF
% Leased.........................................................................................100%
Tenant Annual Revenue.............................................. DeVry - $2 Billion
ACS - $6.5 Billion
PORTFOLIO HIGHLIGHTS
n Institutional Quality Asset: Built in 2001, 3600 South 344th Way is a
two-story suburban office building that has been impeccably managed
and well-maintained by the ownership.
N
Parking
Structure
(Future Office
Development)
Potential
Two-Story
Office Building
97,216 SF
Over-Standard Parking: The building features a two-story parking
garage in addition to surface parking for a total actual ratio of 9.4
spaces per 1,000 RSF, or approximately 914 spaces.
n
Stable Credit Tenant Cash Flow: With $2 billion in annual revenue,
a market capitalization of $3.5 billion, and a debt-free balance sheet,
DeVry University (NYSE: DV) offers a stable, credit cash flow
investment. ACS ranks #341 on the Fortune 500 (2010) with $6.5
billion in annual revenue (2009) and is part of Xerox.
n Upside
Potential: The total site covers 11.72 acres with excess
parking in place that allows for additional office development of up to
60,000 square feet above the existing parking structure.
320th St
The
Commons
Mall
n
To Seattle
Prominent Location: The property is located in the desirable East
Campus submarket of Federal Way. It is surrounded by natural
features lined with trails around lakes and streams through the woods
that are open to the public.
n
Nearby Amenities: Just blocks away from Federal Way Crossings,
Pavilions II and the Auburn Super Mall, the asset’s location offers
numerous retail, restaurant and business support options all easily
accessible from this location.
Weyerhaeuser
Campus
336th St
Hw
y
18
DEVRY UNIVERSITY/ACS
Retail
Center
nEast
344th St
Lake Geneva
Military Rd
The
Crossings
(Retail)
Weyerhaeuser Way
5
ey
3600 S 344TH WAY
Va
ll
Pacific Highway South
n
To Tacoma
N
167
Campus: The immediate area is home to the corporate
headquarters of the Fortune 500 natural resources firm Weyerhaeuser
and is part of 235 acres of planned land development for office and
high-tech product.
Year 1 Net Operating Income..................................$1,268,668
Year 2 Net Operating Income..................................$1,303,279
E XC LUSIVE ADVISO RS
Jeffrey Cole
jeff.cole@cushwake.com
949.955.7652
Marc Renard
marc.renard@cushwake.com
213.955.6413
Ed Hernandez
ed.hernandez@cushwake.com
949.930.4380
Dave Magee
dave.magee@comre.com
206.521.0267
1420 Fifth Avenue, Suite 2900 | Seattle, WA 98101
No warranty or representation, express or implied, is made as to the information contained herein, and same is submitted subject to errors, omissions, change
of price, rental or other conditions, withdrawal without notice, and to any special listing conditions or approvals required by the receiver and noteholder.