RIDGETOP BUILDING 9621 RIDGETOP BLVD NW SILVERDALE, WA WHEATON BUILDING 2512 WHEATON WAY BREMERTON, WA FOR SALE 2 PROPERTY PORTFOLIO

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1 RIDGETOP BUILDING 9621 RIDGETOP BLVD NW SILVERDALE, WA WHEATON BUILDING 2512 WHEATON WAY BREMERTON, WA FOR SALE 2 PROPERTY PORTFOLIO Matt Steiner Matt@beharcompany.com

2 The Opportunity Behar Company is pleased to exclusively offer for sale a two property portfolio both 100% leased to CHI Franciscan Health Systems and Peninsula Community Health Services. Both Medical Office Buildings are located in the Seattle suburbs of Silverdale and Bremerton in Kitsap County. The ownership intends to sell both buildings as a packaged sale and are not willing to split up the transaction. Both properties have Landlord friendly NNN leases in place with 2019 actual NOI to be a staggering $1,153, All of the leases increase annually by a rate of 2.5%. The properties are located at 9621 Ridgetop Blvd NW in Silverdale, directly across the street from Harrison Medical Centers New Silverdale campus and 2512 Wheaton Way in Bremerton, WA located directly across the street from Harrison Medical Center s Bremerton campus. Harrison Medical Center is part of CHI Franciscan Health Systems and is one of the largest employers in the county. SILVERDALE RIDGETOP BUILDING BREMERTON WHEATON BUILDING BAINBRIDGE ISLAND

3 Property Summary 100% LEASED New 5 year lease renewal expires 12/31/23 ADDRESS Ridgetop Boulevard, Silverdale, WA YEAR BUILT IN-PLACE 2019 NOI... $513,499 NEW 5 YEAR LEASE RENEWAL... Expires 12/31/23 PARCEL #... # PA R K I N G... 5/1,000 O C C U PA N CY % Leased SINGLE TENANT... The Doctors Clinic (part of Franciscan Health Care) Located in building: The Doctors Clinic Corporate Office, Laboratory Services, Imaging, Dive Physicals, DOT Physicals, Massage Therapy, Occupational Medicine, Radiology and Medical Imaging, Urgent Care RIDGETOP WHEATON BUILDING 3

4 Aerial View RIDGETOP WHEATON BUILDING 4

5 Pricing & Financial Analysis 2019 NOI $ 513,499 Total SF 25,160 ridgetop 2017 Actual Expenses Per SF CAM (Includes Utilities) $69, $2.74 Management Fees $34, $1.38 Insurance $17, $0.69 Real Estate Taxes $57, $2.28 Total $ of 1 SHEET # EVACUATION PLAN SHEET NAME: DATE: Megan Howard DRAWN BY: N.T.S. SCALE: THE DOCTORS CLINIC RIDGETOP EAST 9621 RIDGETOP BLVD NW SILVERDALE, WA RIDGETOP WHEATON BUILDING 5

6 Building Photos RIDGETOP WHEATON BUILDING 6

7 INVESTMENT HIGHLIGHTS Located right across the street from the Ridgetop Building is the new hospital campus owned by Harrison Medical Center (part of Franciscan Health Systems) boasting 1,100 beds. With a construction cost of well over 500 million CHI Franciscan s investment will transform Harrison Medical Center-Silverdale into a state-of-the-art hospital that will be able to accommodate more world-class outpatient medical and surgical services. Top Kitsap County Major Employers # Employees Aerial Map Naval Base (Bremerton) 18,300 Puget Sound Naval Shipyard (Bremerton) 2,605 Harrison Medical Center (CHI Franciscans) 2,442 Naval Hospital (Bremerton) 1,400 Central Kitsap School District 1,469 Port Madison Enterprises 752 IBM 473 In addition to cyber security tech firms that are growing near the county s military installations, Microsoft Corp. recently opened its first satellite office in Silverdale. Silverdale is one of the largest regional shopping areas of well over 2 million square feet of retail space with national shops that are next door to our Ridgetop building like Costco, PetSmart, Trader Joe s, REI, Eddie Bauer, Home Base and more. Silverdale is anchored by the regional shopping center of 850,000 sf the Kitsap Mall. RIDGETOP WHEATON BUILDING 7

8 Aerial View RIDGETOP WHEATON BUILDING 8

9 Property Summary 100% LEASED OVERFLOW PA R K I N G ADDRESS Wheaton Way, Bremerton, WA YEAR BUILT IN-PLACE 2019 NOI... $639,563 PARCEL #... # # PA R K I N G... 5/1,000 O C C U PA N CY % Leased THREE TENANTS... Harrison Medical Center (part of Franciscan Health Care) Peninsula Community Health Services Cafe Kai Located in building: Laboratories PSC, Anticoagulation Clinics, Pulmonology Clinic, Family medicine, Adolescent Health, Infectious Disease, Internal Medicine, Obstetrics, Primary Care RIDGETOP WHEATON BUILDING 9

10 Pricing & Financial Analysis 2019 NOI $ 639,563 Total SF 33,521 CHI FRANCISCANS CHI Franciscans Penninsula Community Health Clinic Café Kai WHEATON 2017 Actual Expenses Per SF CAM (Includes Utilities) $97, $2.92 Management Fees $40, $1.20 Insurance $22, $0.67 PENNINSULA COMMUNITY HEALTH CLINIC Real Estate Taxes $24, $0.72 Total $5.51 RIDGETOP WHEATON BUILDING 10

11 Building Photos RIDGETOP WHEATON BUILDING 11

12 INVESTMENT HIGHLIGHTS Kitsap County named the most affordable county in Washington State and is primed for growth, Bremerton has never looked brighter. With the opening of the fast ferry in the summer of 2017, the commute to Bremerton to downtown Seattle dropped below 30 minutes. Developers eager to capitalize on the growing interest in Kitsap County s housing market claimed the bulk of the largest real estate deals of Bremerton is quickly becoming the vibrant urban capital of Kitsap that offers city dwellers an affordable option that compliments Seattle s lifestyle and entertainment options with the easy new commute. Kitsap Demographics for 2017 Population Employment Households Avg. Household Income 1 Mile 3 Mile 5 Mile 9,240 60, ,848 4,531 20,998 61,279 3,728 24,710 43,188 70,292 75,569 80,091 Avg. Housing Value 225, , ,871 RIDGETOP WHEATON BUILDING 12

13 Matt Steiner