867 N Columbia Center Blvd
Kennewick, WA 99336
Shopko · Retail Property For Sale

The subject investment opportunity is Shopko located at 867 North Columbia Center Boulevard, Kennewick, Washington. Built in 1989, this Shopko retail store is comprised of 106,238 square feet of building space and sits on approximately 10.74 acres of land. This location also benefits from a rent per square foot that is well-below market, providing investors with additional income stability in the future. The Kennewick, Washington Shopko is subject to an absolute triple net (NNN) lease that was recently extended to have roughly 20 years remaining on the base term. The current annual rent is$688,163. Rent is scheduled to increase on an annual basis by the lesser of (a) 1.95 percent and (b) 1.25x the change in the Consumer Price Index (CPI) over the prior year. There are two, ten-year tenant renewal options. The subject property is a Shopko located at 867 North Columbia Center Boulevard, Kennewick, Washington. Kennewick is a city in Benton County in the southeastern part of the State of Washington. It is the most populous of the three cities collectively referred to as the Tri-Cities (the others being Pasco and Richland). Kennewick is located along the southwest bank of the Columbia River, opposite Pasco and just southeast of the confluence of the Columbia and Yakima rivers. The population was approximately 75,000 at the 2012 census. Within a five-mile radius this property has access to a population of roughly 132,000. The population has grown 61.14 percent since 2000 and is expected to grow another 10.94 percent within the next five years. These growing numbers show great potential for Kennewick and will ensure the exposure of this Shopko to an area filled with great potential. Kennewick continues to be at the forefront for statewide growth in almost every way. The retail hub for Southeastern Washington, the city benefits from a talented labor pool, steady job market and low cost of living.