FedEx BVU Facility Issaquah
5500 220th Avenue SE, Issaquah, WA 98029
Last Verified 11/2/2009
Listing ID 15255105
Highlights
Future Development Site for High End Multi- Family/Office- Strategic Location near Microsoft, Siemens, Boeing
- Investment Grade Credit Lease S&P BBB Rated
- Costco World Headquarters across Street
Description
As an investment grade, net leased income property the FedEx Issaquah facility provides investors with a high quality income stream in an irreplaceable location. The lease has the full guarantee of the FedEx corporate parent. At the option of the landlord, FedEx can likely be kept in place long term as a credit tenant paying market rental rates with periodic increases. FedEx ranked number 70 on the Fortune 500 in 2006, with $29.4 Billion in revenues, up 18.8% from the previous year. The Memphis, Tennessee-based company was ranked no. 78 on the 2005 list. Its 2005 profits were $1.45 Billion, up 72.9% from a year earlier.
Strategic location at intersection of NW Sammamish Road (SE 56th St.), and 220th Ave SE near E. Lake Sammamish Parkway SE, only minutes from I-90. Located in a business park across from the King County District Court building, and Microsoft, Spacelabs Medical (former G.E. sub), and Siemens corporate offices. Costco corporate headquarters is across NW Sammamish Road, in addition to one of the top Costco warehouse stores in the entire chain. The Boeing Company regional offices are across East Lake Sammamish Parkway SE to the east, adjacent to the 500,000 SF Fred Meyer and Home Depot anchored community shopping center. SE 56th Street is the only east west route north of I-90 and south of Lake Sammamish, and serves as the primary access to the extensive Pickering commercial development. SE 56th is classified as a Principal Arterial between SR 900 and East Lake Sammamish Parkway, and is six lanes wide. SE 56th Street contains a westbound curbside high-occupancy vehicle (HOV) land for vehicles with two or more occupants.
Actual
$1,438,458
$1,438,458
$1,438,710
| Tenant | SF Occupied | Lease Expired | |
|---|
| FedEx Corporation | 89,823 | | |
Map of 5500 220th Avenue SE, Issaquah, WA 98029 (King County)
Created 7/25/2007
Additional Information for 5500 220th Avenue Se, Issaquah, WA 98029
- Active For Sale - 1 Listing
- Active For Lease - 0 Listing
- Previously Listed - 0 Historic Listing
- Sales Comparables Available - 0 RecentSales Record
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The information above has been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial, and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.