Building Info

HIGHLIGHTS

Excellent Location

The Squalicum Business Park is within walking distance to the largest shopping center in the region (Bellis Fair Mall), the largest hospital in the region (St. Joseph’s), and to the most heavily trafficked roadway (I-5). Meridian Street is the center line for commercial growth and activity in Whatcom County – all total over 2 million square feet of medical, office, retail, and industrial space surrounds Meridian.

Close Proximity to Expanding St. Joseph’s Hospital

The property is located less than 1 mile north from St. Joseph’s hospital – the first and only hospital in Whatcom County. St. Joseph’s Hospital consists of 253 beds, 2,600 employees, and includes a medical staff of over 400 physicians.

Limited New Supply for medical growth – the area surrounding the hospital has virtually no remaining developable land (land-locked), which combined with escalating construction costs, limit future supply.
The zoning and parking at The Squalicum Business Park can accommodate medical uses.

High-Quality Core-Type Asset

The Squalicum Business Park is an exceptionally well-located property with high quality tenant improvements.

Strong Tenants

The tenant mix consists of retail, industrial, office, and medical services companies. The leasing is balanced between corporations and local businesses.

Well Maintained Property

The property is well kept and all systems are in excellent working condition. The current ownership has a strong schedule of on-going maintenance.

Access

The on/off ramps to Interstate 5 are located 2 blocks from The Squalicum Business Park, and Orchard Street provides easy access surrounding the property.

Limited Supply

High quality industrial flex space is rare in Whatcom County. The Squalicum Business Park has little competition, due to unavailable developable land nearby and unfeasible construction costs to replicate similar property.

Flexible Zoning

The property has flexible zoning accommodating a wide variety of uses – retail, industrial, office, and medical. The zoning is light industrial, within area 3 of the Cornwall Park neighborhood inside the City limits of Bellingham, Washington.

Abundant Parking

Approximately 220 parking stalls exist at the property. There is a Shared Parking Covenant recorded against the entire property that provides for shared use of all the parking facilities with the Business Park.

Signage

The property has desirable signage – Pole, Monument, and Fascia. The Pole and Monument signage and is large and visible on Meridian Street.

Retail Traffic Counts

The traffic counts on Meridian Street – fronting the property – are approximately 22,000 cars per day.

BUILDING DESCRIPTIONS

Construction

The buildings on the property are all high quality concrete-tilt up construction.

HVAC

The property is equipped with roof top HVAC units. The HVAC systems are maintained quarterly (amp readings and filter changes).

Asphalt

The asphalt is in great condition. In 2016, restriping and patching was completed. The Landlord has scheduled a full seal coat of the parking lots in 2018.

Electrical Service

The electrical service to Building A is 400 amp/480 volt, 3 phase. The electrical service at all other buildings is 122amp/208 volt, 3 phase.

Fire & Life Safety

All buildings are sprinkled and have requisite fire extinguishers.

Deferred Maintenance

Deferred maintenance at Squalicum Business Park is extremely low. The owners take immaculate care of the property and have on-site management.

Telecommunications

All buildings are wired for phone and high speed internet. Fiber is also available at the property.

Store Fronts

All buildings at property have architecturally appealing store-fronts providing a professional entry to the space(s).

Loading Docks

Building A has multiple loading docks for each multi-tenant located in the front. Building B has a shared loading dock on the south end. Building C has a loading dock in the rear of the building.

Grade Level Doors

All buildings have 14 to 16 foot grade level doors.

Ceiling Heights

Building A – 22 feet (warehouse areas)
Building B – 22 feet
Building C – 18 feet
Building D – 18 feet (warehouse areas)

Roof Systems

Building A – New TPO Membrane in 2011. The roof is guaranteed 35 years/60yrs PLY
Building B – New TPO Membrane in 2015
Building C – New TPO over metal in 2014
Building D – New 1996 – Metal roof. 40 to 50-year lifespan