315 N WORTHEN ST, WENATCHEE, CHELAN COUNTY, WA
RIVERFRONT VILLAGE
PROJECTPlanned 454-Unit, 5-Building
Multifamily Project Located in Central Wenatchee Adjacent to
the Columbia River
SUBJECT PROPERTY
The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Kidder Mathews and should not be made available to any other person or entity without the written consent of Kidder Mathews.
This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Kidder Mathews has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Kidder Mathews has not verified, and will not verify, any of the information contained herein, nor has Kidder Mathews conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.
This information has been secured from sources we believe to be reliable. We make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Recipient of this report must verify the information and bears all risk for any inaccuracies.
RIVERFRONTVILLAGEOFFERING.COM
DAVE SPEERS
Executive Vice [email protected]
EXCLUSIVELY LISTED BY
RIVERFRONT VILLAGE PROJECT
ELLENSBURG
BELLINGHAM
MARYSVILLE
PUGET SOUND
OLYMPIA
CHEHALIS
LONGVIEW
SEATTLE
CLE ELUM
CHELAN
YAKIMA
RICHLAND
Mt Rainier National Park
Okanogan-Wenatchee National Forest
North Cascades National Park
Yakima Indian Reservation
140 MILES Seattle
3RIVERFRONT VILLAGE OFFERING MEMORANDUM KIDDER MATHEWS RIVERFRONTVILLAGEOFFERING.COM
The ownership of the Riverfront Village property is redeveloping this former industrial cold storage facility into a large multifamily project, as described in this offering memorandum. The ownership anticipates to receive permit approval for the project from the City of Wenatchee this Spring.
PURCHASE OPPORTUNITY OPTIONS:
THE OFFERING
PROPERTY OVERVIEW
Address 315 N Worthen St, Wenatchee, WA
County Chelan
Land Area 7.83 AC / 381,182 SF
Parking 540 Stalls / 1:19 Per Unit
Building Summary 454 Units in 5 Building Configuration
Unit Type # Project Breakout
Studio Units1 Bedroom Units2 Bedroom Units
33290 131
7% of Project64% of Project29% of Project
OPTION 1Buy the project subject to permit issuance for direct
development
$12 MILLION
OPTION 2Buy the project and negotiate a development agreement with the ownership, which also has a general contracting division
PRICING ON REQUEST
CONCEPTUAL RENDERINGS
BUILDING DESCRIPTIONS
Bldg # of Units Bldg SF Stories # of Studios # of 1 Bedroom # of 2 Bedroom
A 73 57,270 5 9 34 30
B 84 62,172 5 9 46 29
C 99 71,523 5 5 70 24
D 99 71,503 5 5 70 24
E 99 71,530 5 5 70 24
F Single Floor 5,291 Recreation Building
Planned 454-Unit, 5-Building Multifamily Project Located in Central Wenatchee Adjacent to the Columbia River
BUILDING C
BUILDING D
BUILDING B
BUILDING A
BUILDING E
WENATCHEE RIVERFRONT
PARK
CONCEPTUAL RENDERING
RIVERFRONT VILLAGE OFFERING MEMORANDUM KIDDER MATHEWS 4RIVERFRONTVILLAGEOFFERING.COM
CONCEPTUAL RENDERING
RIVERFRONT VILLAGE OFFERING MEMORANDUM KIDDER MATHEWS 5RIVERFRONTVILLAGEOFFERING.COM
CONCEPTUAL RENDERING
RIVERFRONT VILLAGE OFFERING MEMORANDUM KIDDER MATHEWS 6RIVERFRONTVILLAGEOFFERING.COM
COLUMBIA RIVER
WENATCHEE RIVERFRONT
PARK
BNSF RAILWAY
MICROSOFT'S 170 ACRES EAST
WENATCHEE SITE
LOOKING SOUTHEAST
RIVERFRONT VILLAGE PROJECT
SITE
RIVERFRONT VILLAGE OFFERING MEMORANDUM KIDDER MATHEWS 7RIVERFRONTVILLAGEOFFERING.COM
WENATCHEE RIVERFRONT PARK
BNSF RAILWAY
BNSF RAILWAY
BNSF RAILWAY
WENATCHEE RIVERFRONT PARK
WENATCHEE RIVERFRONT PARK
RIVERFRONT VILLAGE OFFERING MEMORANDUM KIDDER MATHEWS 8RIVERFRONTVILLAGEOFFERING.COM
LOCATION OVERVIEWRiverfront Village is located adjacent to the Columbia River in Wenatchee’s Central Business District. Wenatchee is located about 140 miles east of Seattle, just over the Cascade Mountains in Eastern Washington, which is a high desert region comprising over 2/3rds of the land area of Washington.
Wenatchee is considered the “Apple Capital” of the state, however Eastern Washington is one of the largest agriculture regions in the country, producing a wide array of produce and is the second largest wine production region in the United States.
Wenatchee is the second largest city in Eastern Washington and is currently experiencing significant population growth.
CURRENT VACANCY RATE IS BELOW 2%
Riverfront Village is well-positioned to attract new residents from Wenatchee, as well as part-time and retirement “west side” residents coming from Seattle, Tacoma, and Portland, Oregon.
SUNNYSLOPE
WEST WENATCHEE
EAST WENATCHEE
SOUTH WENATCHEE
Wenatchee Confluence State Park
WENATCHEE
SPRINGWATER AVE
MAPLE ST
N W
ES
TE
RM
AV
E
EA
ST
MO
NT
AV
E
N M
ILL
ER
ST
SU
NS
ET
HW
Y
NW
CA
SC
AD
E A
VE
CHERRY ST
RUSSELL ST
S M
ISS
ION
ST R
OC
K ISLA
ND RD
EASTM
ON
T A
VE
CO
LUM
BIA
RIV
ER
RIVERFRONT VILLAGE PROJECT
RIVERFRONT VILLAGE OFFERING MEMORANDUM KIDDER MATHEWS 9RIVERFRONTVILLAGEOFFERING.COM
10RIVERFRONT VILLAGE OFFERING MEMORANDUM KIDDER MATHEWS RIVERFRONTVILLAGEOFFERING.COM
2H 39M Spokane
2H 28M Seattle
1H 52M Yakima
CENTRAL WASHINGTON INDUSTRY MAP
East Wenatchee and Quincy hold the majority of Data Centers in Washington State EAST
WENATCHEE
WEST WENATCHEE
MICROSOFT'S 170 ACRES EAST
WENATCHEE SITE
NO. 1PRODUCER OF APPLES IN US WITH OVER $2.4B IN PRODUCTION & 70% OF
TOTAL APPLE PRODUCTION NATIONWIDE
NO. 1PRODUCER OF HOPS IN
US WITH OVER $489M IN PRODUCTION
NO. 1PRODUCER OF PEARS IN US WITH OVER $246M IN
PRODUCTION
$2.6BIN PRODUCTION OF MILK,
WHEAT, AND POTATOES
2NDLARGEST WINE PRODUCING
STATE IN US
$4.8BTOTAL ANNUAL ECONOMIC
IMPACT FROM WINE
940+TOTAL WINERIES IN THE STATE OF WA
RIVERFRONT VILLAGE PROJECT
WORLD PHOTO/DON SEABROOK
Last summer Microsoft bought a 170 acre site in East Wenatchee for over $19 million. Microsoft is developing a huge data center on its East Wenatchee site.
The company’s total budget for the project exceeds $1 billion.
The project will have 3 phases and when complete the entire center is believed to be over 700,000 square feet.
The first phase, now under construction, will total more that 244,000 square feet and cost over $400 million.
Microsoft will pay for a substation, transmission lines and other “off site” improvements in support of the new data center at an estimated cost of $25 million.
Microsoft has an existing data center in Quincy, easterly of East Wenatchee, which is valued at over $1.8 billion.
RIVERFRONT VILLAGE OFFERING MEMORANDUM KIDDER MATHEWS 11RIVERFRONTVILLAGEOFFERING.COM
OFFERING STRUCTUREPrice with Permits - $12 Million
Price with Project Development - TBD
Offers for Riverfront Village will be reviewed as received, however ownership reserves the right to set a specific bid date at some future point.
CONCEPTUAL RENDERING
RIVERFRONT VILLAGE OFFERING MEMORANDUM KIDDER MATHEWS 12RIVERFRONTVILLAGEOFFERING.COM
KIDDER.COM
EXCLUSIVELY REPRESENTED BY
DAVE SPEERS
Executive Vice [email protected]
RIVERFRONTVILLAGEOFFERING.COM
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