HomeMy WebLinkAbout03-07-2014 Items Submitted at the Meeting .�
PCDG 3!7/14 Pg 3
IV.A.EP-Mt
Submitted by: Lorenz
City of Auburn
City Council meeting March 7 2014,comments from Kim Lorenz,owner of Sound Tire Building
1. ,Thank you to City of Auburn,the excellent staff,council members for the attention,sincerity,
and very professional responses and work in addressing a serious issue with Zoning.
2, Short history of the Sound Tire building as it currentlystands;
s Company founded 1979 by two'young' individuals
o Business grew and added additional locations, moved plant to Auburn 1988,bought first
building, East Valley Hwy. Needed warehouse and central distribution.
e Business expanded, searched for larger location,selected Auburn again, built new
facility on Lund Road, bought land and developed 60,000 building and Corporate
Headquarters. Consfructed World Class Retread manufacturing plant,the ultimate
clean green recycling keeping 200 tires a day out of landfills! All in Auburn.
3. The properties on Lund Road(4`h�6a were developed under more environmentally sound
practices than other buildings in the zone area including 6ut not limited to;
• All properties have storm water containments ponds
A All properties share a BIO Swale system for run off and stream filtration/clarification
• The properties purchased and maintain the entire street(private) used to service these
facilities known as 4`h SE
s The properties were requi.red to purchase additional land (25 feet) beyond the private
street as an environ.menfal `buffer'zone to other undeveloped property
• All property owners along 4th SE share a sincere desire to comply with any
environmental practice deemed advisable. Recently the shared'Bio Swale'was rebuilt
and cleaned up at a cost of$42,000 in cooperation with the City of Auburn
4. Buildings were designed and permitted for the specific multiple use(but not limited to)of light ,
manufacturing,warehouse, distribution,corporate offices.The Sound Tire building was a$3
million investment in Auburn in 1996,taxes on facility exceed$72,000 annually.
5. Offer to purchase building accepted in 2013 for$5 million,sale was set to close February 2nd
2014. Here is the email received from the purchaser just prior to closing;
"Our attorney just spoke with Jeff Dixon at the City and he unfortunately has confirmed that the 402
Lund Rd property is NOT being re-zoned back to M1. Me confirmed its current status as EP, that it
will remain the same and confirmed that if the building were to fall vacant for more than 180 days, it
would no longer be able to be used as a distribution property. We was familiar with Kim's name, and
he believes there may be some confusion on Kim's pa"rt. Clearly Yhis is a mdjor issue dnd we can't
purchase a property that has no value should it go vacant for 6 months. "
6. Building types on Lund Road, (4ih SEj are not large'distribution'facilities that have a significant
number of shipping doors such as a UPS,or Costco or similar.These buildings have much lower
'percent'of dock doors. Distribution is a much smaller percent of the building function.
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LORENZ/WINKES TIC—402 LUND ROAD LITTLE—1028 4T"STREET SW VOLPE—902 4T"STREET SW
[132104-9108] [132104-9107] [132104-9105]
GENERALINFO
Taxable Value: $4,114,500 Property Value: $2,785,900 Property Value:$4,785,300
Taxes Paid 2013: $62,949.41 Taxes Paid 2013:$51,107.24 Taxes Paid 2013:$72,821.25
Single Tenant Multiple Tenants Multiple Tenants
Employees at Facility:45 Employees at Facility: 20 Employees at facility: 30+
ENVIRONMENTAL STEWARDSHIP
1. 25 foot Environmental 'Buffer' zone on the 1. the Caddis Building has a painted exterior with 1. Traffic Mitigation: $4,861.72 October 1998.
north side of the property; highlights and office nodes that give the 2, reroofed 2013 at $154,000 permit and sales
2. construct 'Containment' ponds building a professional finish. tax for the project.
3. construct 'Bio Swale' environmental system; 2. the full 2.78 acres are landscaped to give the 3. $14,959.23 was paid for bio swale repairs in
4. Traffic Mitigation: $177,000 property a finished look 2013 ,
5. sewer line across property to allow the
future buildings to the east
6. building accent lines, highlights, other �
enhancements to make the 'warehouse box'
appearance look cleaner.
BASIC BUILDING INFO
57,064 sq. ft. of space 43,780 sq. ft. including approx. 7,750 sq.ft. office 66,000 sq.ft. of space
� opened in 1996; • constructed in 1999 by Sound Ventures, • constructed in 1999 by Sound Ventures,
• multi-functional facility: corporate Inc. Inc.
office, manufacturing, warehouse and • first class warehouse facility • designed to be an attractive, multitenant
distribution facility; • demised into two equal sides distribution ware-house
• substantially more environmental work • each side has office node,three dock high • demised into six warehouse spaces
on this property than other buildings in doors and one grade level door. . front of our building has 12 dock high roll
past developments up doors for freight deliveries
• back of the building has 7 drive-in roll up
doors for truck deliveries
ARGUMENT
Buildings are all modern masonry construction, built in full compliance with M-1 zoning in late 1990s
Buildings each have more than 30 years of useful life remaining
Buildings were designed and built for warehouse/distribution uses.
EP Zoning currently prohibits warehouse distribution uses
EP Zoning caused all existing uses to become nonconforming uses.
Nonconforming Use Status Resulted in Loss of$5 million sale for one building and will result in inability to refinance loans
EP Zoning has seen no substantial development since passage in 2006. M1 and M2 zones have seen over$150 Million in investment since 2006
RE UEST
PREFERRED OPTION— REZONE THESE PROPERTIES BACK TO M1
ALTERNATIVE—KEEP EP BUT ALLOW WAREHOUSE AND DISTRIBUTION
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' PCDC 3/7/14 Pg 5
IV.A.EP-M1
INDUSTRIAL LEASE COMPARABLES Submitted by: Honan
NEILWALTER
3/7/14 C O M P A N Y
COMMFRCIAI_REA1�F9TATF SERVICF9
�_ 1/1/06 �Thyssen Krupp Matenals !Park 277 � Aubum i 62,866 � 1,200 � 60 $.31/$.70 ' 3 9"/o-Year 4 �No TI's.
�__2/1/06 �Floor Seal Technology __j WestPark_ _ Aubum _ � 9 458 2,369 � 63 $.42/$,65 3 3.0% A� roximatel 5,000 in TI s.
_ . _ _ � _ _ � _ __ �
. _ . . .-- -� -- --- ---- I-�------- -- -- I------- � PP..__ . .Y$_ . . . -- - -
- --- --'
3/1/06 __f Once Sold Tales �Airport eusiness Park___� Aubum__ _ _3 840 _ 1,200 63 y0.48 Blended 3 _ _2.5%_ �
3/1/06 �Pacific Cascade _ ___�Park 277-Bldg A __ __ _Auburn _ 109 000 _E 0 63 ;.34 Shell 3 9%Year 4 �Tenant has nght to ad�acent 60,000 sf.
� 5/1/06 _�ConSpec �WestPark � Aubum 25,278 � 4,700 65 $.42/$.65 5 30%-Year 4 Renewai.TI's=repaint office walls.__i
6/1/06 Salmon 7erminals Auburn North Dist Center Auburn 209,106 4,104 65 $.33/$.70 2 8%-Year 4 TI's=$380,000,of which$48,000 �
I (1/2 rent for 6 amortized over lease. �
mos) � !
6/1/06 ThriftBooks ----Park277 �----------___- -- - ---- --- - -----------.__ _.. ----- ---- ��--�-o---�----- ---�--... . _�--�-------.
� � Auburn 65,000 1,500 63 $.31/$.65 3 3.0/o iDiscoun[ed 3,SOOsf of office. �
7/1/06 ICentral Freight Lines Cross-Dock 11302 26`�Street Auburn 10,500 3,000 � 36 $666/Door 0 0.0°/ �21 Doors on 2.95 acres of land.One,3- 1
- - ' - - -- - -- »- - - -- - - ------ -- _ _.� _ . _.
!year option.
_. ---- - - ' - - -. __!
8/1/06 Corporate Express Auburn North Dist Ctr f Auburn 168,082 16,000 180 $.33/$.63 4 11.5%-Years 7 I$43/sf office allowance.LL amortized
-- --- -------- -- __ _--------�_.��I-- - - ------ �------- --------- --- ' ,
and 11 �approx$1.2M in TI's.
8/1/06 Baader North America, Opus Park 167 Auburn 12,493 2,100 60 $.44/$.75 6 9%-Year 4 �$215,000 in Offlce Build-out;GL door,Floo�
Corp. (1/2 rent) drein,advanced lighting,etc.
9/1/06 Sara Lee Bakery West Park Auburn 11,039 1,516 63 $.43/$.70 3 3.0% TI's=to$25,000. �
�_9/1/06 Seattle Aero West Fark Auburn I 18,436 3,300 , 63 $.45/$JO 3 3.0% TI's=carpet,paint+$30,000. �
___ -._ _ -- -- - - -- - - -
' 1/1/07 �TMX �Park 277 � Auburn � 75 167 � 10,468 � 48 $.34/$.70 0 3.0% - �
8/1/07 Belshaw Industries Park 44 i Auburn 119,458 119,458 I 180 $.36/$.75 6 10%-Every 5 'Landlord built 7,528sf inezz. I
- -
__ ,
i years
----
------
- - ------ -----� -- ------ -- ---- --- . _ __ __ _. I . -
SO/1/07 Schuck's Au[o Supply DC 8 Street Developmen[ Auburn 81,704 � 5,000 ` 120 $.40/$.75 Z 6%-Every 2 years Built-to-suit.
- - - ------- - �-- -- ----- � - - -._... .__.- -- I - -- ._I-. _...- - - - - - ._ . _ . . . --
'`-- -
li/1/07 Goodyear Tire&Rubber Auburn Park 44 Auburn 50 500 2,264 74 $.417 Blended 2 2.5% $75 psf office allowance.Two 5-year
-._ � .-_ ---- - - - -- _--- . . -- -_._ _ __ . _ .. . ..__--_-._ _. __ options.No sewrity deposit requirement. �
_ - . . . - - _ _
SI/1/07 �Coffaro Baking Company_ Auburn ITC ___ Auburn 30,801 2,200 87 $.45/$.75 3.5 3.0% $30,000 TI allowance.
- �------ - -- --- - --'-- � -- - ---'- �-- ---- - - ----..
-- ---- � -- -�-'-
12/1/07 Eagle Global Logistics West Valley 29 Auburn 221,900 15,700 124 $.35/$.75 4 3.0% TI's=$300 000(lighting,doors,floor
repair).__
--- -�--- -- - ------
------------
1/1/08 _ Schucks Auburn Park 44 Auburn 34,500 1,200 � 60 $.38/$.85 0 �Turnkey TI's.
_2/1/08 �Pacific Cascade Auburn Park 44 _� �_ Aubum ��_ 34,500 1,200 � 60_�_ $38/$.85 0 3.0% __�Turnkey office__
- - -- --- - --- -- --- .
3/1/08 Pacific Cascade Flooring Park 277 Auburn 109,000 109,000 63 $.34 blended 3 9%-Year 3 24'CH; Built in 1996,Tenant has the right
__ _. _ _ _. _ _ _ _ _ _ _ _ __ _ to t e adjacent 60,000 sf s e.
h pac
. _ _ --
7/1/08 _ �Pacific Cascade Flooring _Aubum Park 227 ( Auburn f__ 70,985_�� 3,000 � 64` __§.40/$.85_ � 4 3.0%__ �Built 1996.30'dear height
----------------- ----------- -- -
- -- - - � -- � - -. . ._-� --
11/1/08 Lowe's Auburn Logistics Center I Auburn 268,506 10,000 24 $.41/$.75 3 3%-Year 2 Shell rate on 268K footprint.As-is.Access
to 3.35 acre yard to the South of their
-- ---_ _ _ . _. . - --- - - . _
uf ing.
- -- .. - - _ . _ _ __ _ _
_ _ __
11/1/08 TMX Emerald City Corporate Park, Auburn 100,445 4,000 24 $.35/$.75 0 3.0°/a
Building-� -- --I-------I-------
-- - - ..___ _ ._-�.----- _�_._ .---- -.._.� -----� - ---- --- ---- ----- -
1/1/09 �USI West Valley 29 Auburn 14,600 3,500 38 I $.41/;.70 2 g.52/$.70-Yr 2 Minimal TI's
--- . - . . . - - --- - - . . . _ .._ _. .. /o-Yea
�3/1/09 �Dana Container CIY St•Business Park Auburn 7,253 � 1,200 j 37 � $.48 Blended 1 0.0�r 3 _
5/I/09 _ (GMA Construction �Oliver Industrial Park Aubum 6,175 I S00 _�__38 $.43 Blended A 2 3.5% I
-- - --- ---- - - ----- -. �. _-----._.,._ ...--- ---- --� - - - �__ . .- --- ._. -� -
-- ___ _ . .
6/1/09 United Natural Foods Valley Centre Corporate Park, Auburn 342,000 5,000 124 g.36/$.70 3 6°/a-Year 2 and 34'ESFR clear hetght,"blend and extend"
Bldg 2(2530 B St NW) every 2 years deal;they will occupy and pay for 154,128
thereafter sf only until August 09,then take in the
� � � balance of the space and rate;$80,000 In
� __ . ! _____ , , f ; '; i custom TI's;buil[1999.
�--- - - - - -- - 9 PP Y � D � Aubum 69,556 -- - � - - - -- j o
7/1/09 jAmerican Buildin Su I Emerald Cor orate Park � __ � 12 � $0.38 � 0 � 0.0% �Renewal,no concessions given. �
� 8/1/09 �Ditan WestPark Corporate Campus Auburn 9,926 2,800 { 36 � $.42/$.65 I 0 I 3.0% INew paintJcarpet plus appx g10,000 in
� _ .___ _ , __ , � �extras.Termination option at month 12.
I 9/1/09 �Fedex Valley Centre Corporate Park � Auburn � 121,625 18,676 j 124 $34/$JS �I 4 � 10%-Year�6 �$519,000 in LLTI's. �
_.
12/1/09 �Curt Manufaduring Auburn ITC Auburn � 34 020 1,438 64 $.34/$.75 4 I 2.5% �Carpet and paint in o�ce.
-I---- --
12/1/09 f Restorx of WA Megawest Corp Park Auburn � 23 204 ! 3,700 78 $.35/$.75 3%-Year 6 $35,000 TI allowance.Only charged on
� --- --� -��-- -- ---�-� -- - - -- � �-�------ - - -� --- - .. -._. 2,SOOsfofofficeP.
1/15/10 �Varsity Contradors Westwood Building Auburn , 4,320 1,000 f 62 $.45 6lended 2 3.0% �New paint&car et.
---- ' - � -- � � --�----. .. ---
2/1/SO �CSA Auburn ITC Auburn I 11,100 1,185 I 38 $.40/$.75 2 3.0% $3,000 TI's.Tenant looked for good image�
-------- - -- _ .._�....----- -- - � . � i � . _ I IProperty.
- - - - -. . _ ._ . .
the in(ormation<onWined hereln is/rom sources deemed�eliabk.
Prepared by:lim Honan Casey Sheehan ttisprovMedwithoutrepresmtaYan,warnnryorgmrantee,exDreuedorimpliedastoitsxcuracy. 1 Of$
INDUSTRIAL LEASE COMPARABLES NEILWALTER
3/7/14 C O M P A N Y
COMMERCIAL REAL E9TATE SERVICE9
�: • _
2/1/10 PSS World Medical Auburn ITC Auburn 65,220 9,812 36 $.379 Blended 2 2.0% Lease renewat.32,610sf w/4,749sf office, I
removed demising wall to provide
expansion into adjacent space.
----!— ----- --------- ---- -- ----— ---- - ------ . . .-- --
� 3/1/SO �Northwest Hydraulic Bricmar Building Aubum 21,779 _ 2,737 , 39 $.35/$.75 _ � , _3_ 0.0% i (
4/1/10 Alan Ritchey,Inc.(USPS Valley Centre Corporate Park- Auburn 154,638 2,944 I 64 $.325/$.70 I 0 0.0% �Tenant has a termination option effective
Equipment Contractor) �Building 4 I � aRer the 24th month due to contract with
� the USPS;Tenant was temporarily
' I subleasing space i�adjacent building
� within the park;La�dlord to demise space,�
painUcarpet the offices,and upgrade the I
Iighting and also provided an amortized
allowance of$100,000.
-- --- . . --- - ---— --- - - - ------ ----— - -.
4/1/10 Primus International 4502 B Street Northwest Auburn 40,208 6,506 45 $.473 Blended 0 2.5% Office is on two floors;Sublease through
Sublease December 31,2013. __ ____ ___ _ _
-- — - - -- - --- -- —------— --- ---- -�
4/1/10 �TTF Aerospace Auburn ITC � Auburn 40,228 6,000 45 $.218/$.75 _ � 0 2.5% Sublease. �
- - -- -- --- _ -- -
6/1/10 Auburn Gymnastics �Opus Park 167 Auburn 16,428 314 66 $.44/$.75 4 3.0% Space fully insulated and temperature I
(3 months at control�ed. �
1/2 rent) �
-------'----------------------------- — — -�-------�-----------------
7/1/10 Sky Supply IWest Valley 29 Auburn 8,800 1,410 39 f•40/$.75 3 2.5°/ IConstruction of relite conference room wall�
I �and new office;new paint.
__ _ . __ .. - - - - -- _ _
7/1/10 Victory Packaging Emerald Corporate Park, Auburn 24,514 16 $.27 Blended '
(expansion) (Building B __ I____
B/1/SO American Building Supply Valley Centre Corporate Park Auburn 63,000 1,200 91 $.33/$.75 7 2.5% TI s=addition of T-5 I�ghting and drive-in
ramp.
- -- _._ __ -- --- � - --- - --- -- ----- — __ --
--- -——--- __..— -- --- -— —- ------ -
8/1/10 �Big League Edge Emerald Corporate Park � Auburn 28,571 1,665 65 336 75 5 2.5% $50,000 TI allowance.
_ .._ . __ . .. - - -�----� -- -� � - � - - ----._��_ -���_— - - - --- �
10/1/10 American Tlre Auburn 18 Distribution Center Auburn 137,609 5,572 128 $.32/$.75 3 2.5% Tenant required 30'clear height with
ESFR,and preferred a strong corporate
image with visibility.
Landlord contributed$200k towards ESFR
sprinkler system improvements.Landlord
provided an additional$100k towards the
� sprinklers that is amortized over the term
at 9%.Tenant is contributing$SOOk out-of
pocket for miscellaneous improvements. I
I Landlord also provided an additional$200kiI
I for office and warehouse improvements, t
including o�ce remodel,painting �
I warehouse walls,ventllation fan !
� ' -- I �installat� , nd batt y h g g tations. i
'on a er c ar in s
- _J - -- - - _ - -- . _ - --------- � --- - - --_ - - --I-- - _ � - ,
10/1/10 Volume Snacks,Inc. Caddis Building Auburn 23,115 2,500 � 67 $.26/¢.75 14 17%-Month 31
(1/2 rent) _ f --- --. . _._ ..
. _. .. . ._ .__.- - ----�- - --- �-� - ---�� ---- ------�--- --- —
� --- -- - -
— ---
1/1/SI Es[es Express Lines Pollart Terminal Auburn 27,000 3,000 48 $625/Door 0 $650/door m Year�Renewal.60 doorcross-dock w/S-bay shop
I---...__. __ .� - � 4 on6acres. --- --- _. .__._.
. .--- ---- -- - - _.------ -�- --- ---- - �-- �------ �- - - — . ._ -- �-- ._..__. _._- . . . . - --
� 1/1/li TMX Aerospace Emerald Corporate Park Auburn 100,445 4,132 96 �.33/;.75 6 2.5% TI's=¢50,000 for carpet and paint as welll
I
as minor repairs.
- --- - .___._ . ------ - ------ ------ --- _----- --- _ . _ __ �
_ .~ .r
The information containM hereln is frnm souras deemed reliable. Z Of$
Prepared by:Jim Honan Casey Sheehan i�isprovidetlwkAoutreD�esentation,warnnryorgwnntee,e.pressedorimpliedastoitsaccuncy.
111fDUSTRIAL LEASE COMPARABLES NEILWALTER
3�7�14 f O M P A N Y
COMMFRCIAL RFAI.E9TATE 9ERVICE9
_____ .__ _ _.__.._ _._ . _'__ ,_ _ . - _ ._ '__ '._ __ _'_ ' _. .___ _ ._. .. ._
__ � - '. '._ .___'_ _
1/1/11 �Uline,Inc. ;'Aubum Lo istics Center � � ' �-�-� � -�-� ��� � � - � -�- � � - �
g� { Auburn 282,393 10,000 84 $.34/$JS � 6 Z.5% �Rates were based on 268,506sf(fess �
I mezz); 10,000sf office;3.435 acres of
paved yard.No upcharge for 60,OOOsf
"cross-dock"portion ofthe building;
$550,000 in TI's(turnkey reconfig of
10,000sf office,30 dock levelers,demo of
concrete"haz mat"rooms,and lighting
upgrade allowance).
__3/1/I1 �Taphandles �Park 14 Auburn 9,879 _�50 39 $38/$.75 �__ 3 __ _ 2_5% �TI's=750 sf of BTS office. _ �
7/1/li Helly Hansen Emerald Corporate Park,Bldg Auburn 110,000 5,000 � 60 $.28/$.70 7 3.0% New carpet/paint,built out 1 add'I office, I
� landlord built an additional 2,SOOsf of I
office.Termination right at month 36 �
unamortized,Helly Hansen paid$100k to �
break out of old lease. _�
8/16/11 Multimedia Games,Inc. West Park Corporate Campus Auburn 13,506 2,000 64 $.365/$.75 4.5 3.0% ITI's included restore 2 loading docks for
_..__ . -1-------_ --.-_----._--. -_- ----_-- --- _ -- -.-.----. � Ioffi eal9aaforconferenceroomll&doorin
-----I---- - _ . � _ ... --'
9/1/11 Hollingsworth Logistics Former Schuck's Distribution Auburn 162,400 � 4,000 � 84 I $.34/$.75 � 6 3.0% �$200,000 in TI's.Office discounted from
I Group Center � � �11,735 SF.Tenant has[ermination options j
'atthe end of Y-3 and Y-5,the penalty �
� i _ being unamortized deal costs I
� -------- ----- ------- -------------- �-- --- - -- -- ------ ---
9/1/il {Loud Technologies Valley Centre Corp,Park,Bldg Auburn 63,000 1,558 f 65 $.32/$75 I 5 2.0%aRer years TI's were office carpet and paint.Flve i
1 1 & 2;2.5% hydraulic levelers in piace
I �
- -- - - - - - _ - _ _ _ _.
after
11/1/li Mitco LTD Valley Centre Corporate Park, Auburn 139,006 2,944 64 $.35/$.75 4 3.0°/ May Internationalis a local �
Building 4 logistics/trucking company.They were a �
month-to-month tenant at Sumner I
Central,but was displaced when Brooks
Sports leased the entire building.Their
credit has been poor:At one time they hadi
200,OOOsf+at Sumner Central with term, �
but lost some 3PL business and were �
rumored to have defaulted on the lease;
and subsequently negotiated a size
reduction to 90-120k with[he Ll
termination option. TI's included
demising,lighting upgrade,and office
carpe[/pain[.
------- ----------------- — - - -----
----------- ---------- --- -_ _. -----
10/1/12 Cascadia Metals Aubum Commerce Center- Auburn 12,474 36 $0.35 Blended 4.75%increase Space was in shell condition,SF does not
Suite A ($0.20 NNN) year 2 reFlect an approximate 1,772 SF structural
4.5°/increase mezzanine that Tenant cannot use.Space
- - ---- -. -- -.--- _ ._ 3 leased as-is.
-. --- year
_... - ---- ___ - - - _ _. _
-- __ _ _
SO/1/12 TMX Aerospace Emerald Corporate Park- � Auburn 69,556 1,500 74 $.34/$.75 3 2.5% TI's: $50,000 for carpet,paint,and
!_____ _I_ _ ________ IBuilding_A_ _ __ _ _ (g0.125)__ _ _� _ deferredmaintenance.
5/1/13 UIIne,Inc. Auburn 18 Dlstribution Center Auburn 157,414 8,183 57 $.34/$.75 � Z 2.50% Landlord contributed$100,000 towards
($.128) i TI's.LL received a termination penalty
i from existing tenant,Universal/Uline
�needed only 2,500 SF of office,but is
� paying for all of it. If$.75/SF is applied to
what they need,the shell rate is closer to
----------- - --- - -- .�__ _.___ --- .------ 336psf.
6/1/13 �SupplyTechnolo les M �..�.'-._------�--. . -_._-� ---- ��_�_ .__-� - - - .. .___
g egawest Corp Park Auburn 11,609 1,380 12
------.--- � ------- ------ -�- - - � -'--�-
I I �0.45 0 None � �Lease extension;lease rate
---. -. -- -- -- - - ._.- �_�-�-- ---- .. —__ �---• ' — --- ---- -------- --�. -_._. __._. � �$5,241.46/month.
The inlormation contained herein h 6om sources deemed reliabk.
Prepared by:Jim Honan Casey Sheehan Itisprovidedwilhoutrepresentatbn,wartantyorguarantee,exp�essedorimpliedastoitsaccvraq. 30f$
INDUSTRIAL LEASE COMPARABLES NEILWALTER
3/7/14 C 0 M P A N �
COMM[RCIAI REAL E9TATE 9ERVICE9
• �
6/1/13 Technical Cable Applications Koolance Buflding Auburn 9,279 2,160 36 Year 1:$.30/$.75 0 Gross deal.Newly constructed spec ofFlce.
Year 2:$.32/$.75
Year 3:$.34/$.75
�5.151 . . . �
-- . . __ .. .- - -- - -- - ... _ .___.__ _. .___---... -' - -- ----. _._.--�---�----�—._. ----- I
7/1/13 Evoludon Innovations(Evo 2601 West Valley Highway Auburn 123,280 8,900 69 $.37 elended 3 0.0% Starting Rate:$45,500/Mo.flat rete
Gear) throughout[erm;TI'S: New paint and
I carpet throughout office.New flooring,
paint,sinks and toilets in the restrooms.
Strip linoleum tiles off show room area �
Floor&restore to standard warehouse i
sealant Floor;remove demising wall;
remove ducting systems from warehouse, (
install T-S or T-S lighting with motion
�sensors,install 4 mechanical pit levelers
� I 'and one edge of dock.
i 7/1/13 Orbis Corporatfon Valley Centre Corporate Park Auburn 52,816 1,425 65 $.36/$.85 } 4 —� 3.0°/ 14 months free rentthen pocketed 15,000 �
I ($.L1) � �SF for the first year,TI's=aliowance of �
I � � I I � I$50,000,new office(completed May 31, �
i '
8/1/13 IUSAgain Auburn 400 Auburn 15,500 2,000 51 $.33/$.70 � 3 2.5% ITI's=new paint/carpet plus installa[ion of i
i I ($.165) --' ----- lone pit leveler. ---- — �
9/1/13 ;Outdoor Products,Inc. Park 277 Aubum 97,812 4,806 120 $.31/$.75 i 0 2.75%every 2 Tenant wanted a very low lease rate �
� years_ instead of free rent.TI's:As-is. ;
--- --�------ —' - -—— ---- ----- ------ ------—— ...__ .--._ __..__ . _ . . - - - -
------ —
3/1/14 Walter E.Nelson DCT Industrail Build-to-Suit Auburn 46,500 5,900 � 120 5.40/$.85 0 3.00% !Build-to-suit office space with 2,900 SF of I
i mezzanine office space,$�175,000 worth ofl
Tenant Improvements am rt'zed,opCon to�
I--- - - — . _. -- - -_ ____ ___.______----- --- I_ _ - _ IPure seinyear _ _ I
_�__----- .. ---- ------------- ----- ha 6.
Total SqFt Leased Since 2006: 4,674,324
�
� The information rontai�ed herein h from wurres deemed reliahle. 4 Of g
Prepared by:Jim Honan Casey Sheehan ttisproviAedwilhoutrepresenblion,warranryorguaantee,eKpressedorimpliedastoitsaccuracy.
1
LanC Area DH •
Building AtlAress Buildin Name Bulldin SF (AC� PropertyType 2onin CI Year Built Power Ceilin Hei M Doors Gl Doors
9024t�StSW 7�,000 3.7231ntlusinal M1,Aubum Aubum 1898 24'0" 6 4
1028 47h SI SW Catltlis Bltl 43,780 2.7768 Intlustnal Mi,Aubum Aubum 1999 24'0" 6 2
801 151h St NW 28.92 Lantl M1 Aubum
707 Cla SI NW PK Bltl 15,624 0.96 Intlustrial M7 Aubum 1997 19'0' 4
t16 Cla SI NW Bltl A 20,844 2 Industnal M-1 Aubum 1998 200a/408v 22'0"-24'0' 6 3/10'0"w x 14'0"h
N6 Cla St NW BWldin B 41,134 2.41 Intlustrial M-1 Aubum 1997200e/408v 24'0" 4 B/10'0'w x 12'OT
179CIa S1NW LinCsa BIO 13,878 0.96421ntlusirial M1,Aubum Aubum 7969400a/277-480v 18'0' 2
201-215 Cla St NW Bltl A �8,139 0.84 Intlustrial M7 Aubum 2001 Heavy 18'�" 3/8'6'W x 10'0"�
215 CIa St NW Bltl B 17,305 1.0784 lntlustdai Mi Aubum 2001 Heavy 76'0" 6
701 Luntl Ra West Valle Ent rs. 17,040 7.46 Industrial M1 Aubum 1987 Heavy ♦
301 Luntl RG Westem Coalin 17,616 2.41naustnal M1,Au6um Aubum 7983 6
402 Lund Rd S 31 Sound Tire 57,064 3.7785 Flex EP Aubum 1999
809 W Main St 2,500 0.7805 Intlustrial Mt Aubum 1821 16'0" 2 None
689 W Main St Seadle Mechanical 11,000 0.7723 InOustnal Mt Aubum Aubum 1981 20'0" 3/10'0'W x 12'0"h
901 W Main St Peeka Bld 17J98 1 Intlusinal Aubum 1992 14'0" 2/8'0'W x 14'0"h
902 W Main St Tower Bld 32,775 2.399 Inaustrial M-1 Au6um 1967 1200a/480v 3 20'0'44'0" 2 4
Generel Retail
904 W Main St 35,000 7(Ne'hDorhootl Cente M7 Aubum 2005
1018 W Maln St 17,412 5 Industnal M7,Aubum Aubum 1870 14'0' 2/72'0'W x 12'0"h
1045 W Main St All-Phase 5,558 0.31 Industrial Mt Aubum 1982 20'0'-22'0" 4/10'01v x 12'0'T
1240 W Main St 5,112 3.84 Industnal M7 Aubum 1945 18'0'-18'0' 8
1240 W Main Sl 3.83 L.and M1 Aubum
1302 W Main St 97,750 9.4879 Intlustnal M7 AuDum 1987 BOOa/208v 3 22'0" 40/8'0"w x 10'OT
7308 W Main St Ea le H Orauiics 13,820 1 Industnal Mi AUDum 19B� 76'0" 8
1310 W Main St 6,000 9.4679 InCustnal M1 Aubum 7879 g
'1376 W Main St 5�,400 9.46791ntlustrial M7 Aubum 2000 4 8
1400 W Main St Wds�in on Cetlar-Bltl 1 5,705 4.55�ntlustnal M•1 Aubum 19fi5 12'0' 3
7400 W Main St Washin on Cetlar-Bld 2 28,791 4.55 Intlustnal M-1 AuDum 1989 72'0" 3 7
145D W Main St 3.63 Lantl EP Aubum
fiD W Valle Hw N 29.04 Lantl M1 Au�um
38WestemAve SeaLakerBoatCo. 4,000 023GeneralRetall M-1,Aubum Auhum 1985
101 Westem Ave Main Slreet Industrial Pk 80,OD0 4.54 InCustrial M-1 Aubum 1996 800a277�480v 3p 24'0" 5 2
320 Westem Ave 2,042 1 Intlusirial Environmental Park Dlsln Aubum 1943
340 VJestem Ave 1,144 0.49 0ffice Environmenlal�Park Distn Au6um 1988
302 Westem S�NW Tower Bld 11,281 1.5514 Industrial Mi,Aubum Aubum 7974 200a 1 16'0" 2 2/12'0'1v x 10'OT
401 LunO RO S erkleri's BuilOin s-BIG 7 54,658 8.9 Intlustrial M7,AUGum Aubum 7988 220v 3 24'0" 21 5/10'0"w x 12'0"h
401 Luntl Rd Sparkletl's BWitlings-Bltlg 2 9,600 8.91ndustriel M1,Aubum Aubum 1988
Total 813,270 173.0288
PCDC 3.17114 P9 2
� • IV.A.EP—M1
Submitted by: Tate
* y:, '1` -r'��
CITY OF ,��,.�, y „,�:�� ~�" �,*
k �
'��' :�4��� `'� Memorandum
* �,,�:�'' .��,>.-
��� --��-�� WASHINGTON
To: , John Holman, Chair, Planning and Community Development Committee
Largo Wales, Vice-Chair, Planning and Community Development Committee
Yolanda Trout, Member, Planning and Community Development Committee
From: Jeff Tate, Assistant Director of Community Development Services
CC: Nancy Backus, Mayor
Kevin Snyder, AICP, Community Development&Public Works Director
Elizabeth Chamberlain, AICP, Planning Services Manager
Date: March 6, 2014
Re: EP vs. M-1 Zoning Comparison
Summary
The Environmental Park(EP) zoning designation was adopted by the Auburn City Council in
August of 2006. The district's purpose statement reads as follows:
"The environmental park district is intended to allow uses in proximity to the Auburn
Environmental Park that benefit from that location and will complement the park and ifs
environmental focus. Uses al)owed in this zone will focus upon medical, biotech and 'green'
technologies including energy conservation, engineering, water quality and similar uses�
Other uses complementary to and supporting these uses are also allowed. Incorporation of
sustainable design and green building practices will be a primary aspect of this zone. The
construction of leadership in energy and environmental design (LEED) and built green
certified buildings is encouraged and built green will be required for multiple-family
dwellings. The city recognizes that much of the property in this zone was developed under
earlier standards, so the goals of the district will be realized over a period of time as
properties are redeveloped."
(n spite of its well intentioned purpose statement, the EP zone has yet to realize its stated
principles and goals. Even with its adjacency to the M-1 and M-2 zoning designation and its
proximity to major transportation corridors there have only been 9 permits issued in this
zone since 2006 — none of which were for new construction. Those 9 permits represent a
construction valuation of approximately$456,000 and consisted of actions such as
Recommendation
After reviewing the information provided by representatives of the owners of a selection of
properties zoned EP staff concurs that there are development and use challenges with the
policy and regulatory language of the EP zoning designation. Staff recommends that PCD
consider the following finro actions:
a Proceed with option 1 as an immediate action that would provide relief and greater
flexibility to owners and managers of EP zoned properties. Based on City Council's
recent adoption of Ordinance 6489 on December 2, 2013 there is adequate justification
to amend the EP zoning designation by changing "Warehousing and Distribution"from a
prohibited use to a permitted use.
e Also proceed with option 3 which would allow staff, Council, the Planning Commission,
affected property owners, and the community to redefine and enhance the goals and
purpose that are defined in the present EP zoning designation so that it is better
positioned to realize what was intended.
,. � PCDC 3/7/14 Pg 3
IV.B.Local Revitalization
Submitted 6y: Chamberlain
*
CI'TY OF �` ,.a�>�`'�-�-��.��k
����� � � � iViemorandum
� � �
* � � WASHINGTON
To: John Holman, Chair, Planning and Community Development Committee
Largo Wales, Vice-Ghair, Planning and Community Development Committee
Yolanda Trout, Member, Planning and Community Development Committee
From: Elizabeth Chamberlain,AICP, Planning Services Manager
CC: Nancy Backus, Mayor
Kevin Snyder,AICP, Community Development&Public Works Director
Jeff Tate,Assistant Direetor of Community Development Seniices
Date: March 7, 2014
Re: Local Revitalization Financing—Projects to Obligate Remaining Funds
Backqround
The City Council passed Resolution No; 4502 which authorized the use of local revitalization
financing and authorized the submittal of applications to the Washington State Department of
Revenue. On May 3, 2010, the City Council passed Ordinanee No. 63Q5 which authorized the
issuance of limited tax general obligation bonds a portion of which would fund downtown
infrastructure improvements.
Between the local revitalization financing and the Economic Development Administration grant
the City obtained, Auburn has been able to complete the following downtown infrastructure
improvements:
Projects Originally Identified for the LRF and grant funds:
1. � City Hall Plaza and Plaza Park=Completed April 2011
2. South Division Street Promenade—Completed April 2012
Projects Completed with Remaining Funds due to favorab/e bidding climate:
3. Downtown Sculpture Gallery—Completed September 2012
4. Main SCreet Pedestrian Light Replacement Project—January 2013 ,
5. Pedestrian Kiosks—3 Completed July 2013
,
Discussion
There is a remaining balance of$557;Q00 comprised of$175,000 LRF funds and $382,000 City
funds allocated to downtown infrastructure improvements. The LRF funds are restricted to the
urban center and for design/eonstruction projects.
In evaluating feasible project ideas with the funds available, staff recommends the following
project:
e Develop a streetscape/urban design for Main Street between C Street SW and F/E
Street NW that then can be taken to obtain other grant funds or dedicate future City
funds for detailed design and construction; this would also include a design for B Street
Plaza; this would include a public outreach effort with the community.
e Address the City owned parking lot befinreen Safeway and Main Street business:
includes suvey work and exploring street vacations to create one whole tax parcel; a
redesign of the parKing lot creating a more efficient wse of the parcel and potentially
obtain additional parking stalls
e A very rough estimate of costs: Survey work $30,000; thorough streetscape/urban
design for Main Street and B Street Plaza with a public outreach component$175,000;
redesign and construction of the City's parking Iot$250,000.
At the March 7, 2014 Committee meeting, staff is looking for direction from the Committee on
how to proceed with the remaining funds.
Questions for the Committee to Discuss:
1. Does fhe Committee concur with staff's project recommendation?
2. If not, what suggesfions or ideas does the Committee have for an altemative project?
3. What others questibns or information needs for this issue does the Committee have?
r
Remaining LRF Funds Project Ideas Legend
Regional Growth Center
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