Bright Horizons

13633 & 13725 SE 26th Street - Bellevue WA 98005

LTV (Loan to Value)	65.00%	Current NOI	$1,340,256.00
Interest Rate	4.250%	Capital Rate	6.650%
Fixed Term	10 Years	Land Area	2.99 Acres
Amortization	25 Years	Lease Type	NNN
Loan Amount	$13,097,500.00	Property Type	Office
Payment	$70,954.15	Property Lease	Educational Facility
Bulding Size	49,956 SF	Remaining Terms

Location Description

NNN Lenders is offering for sale to qualified investors the fee simple interest in a 49,956 square foot 4-story building located in Bellevue, Washington, leased to Bright Horizon's Children Center, Inc. The building and grounds are operated as an independent, secular, co-educational day school for Kindergarten through 5th Grade. The facilities include outdoor all weather surface soccer field, playground, large play unit, and indoor cafeteria, two science labs, computer lab, library, art studio, yoga room and gymnasium. The property was configured during initial construction to accommodate the school's needs, while retaining design and construction elements that allow building and grounds to be easily retrofitted into Class A office space. The property is strategically positioned along the desirable and supply-constrained I-90 Corridor, the primary link between Bellevue and Seattle. The site is near multiple points of access to I-90 and I-405 providing access to the top business and residential centers of the Puget Sound region. The property is located on SE 26th Street (Kamber Road) providing access to major commercial areas including the Marketplace at Factoria, Class A office buildings, affluent residential neighborhoods and Bellevue College.

Highlights

Net Lease, Annual Increases – Lease includes annual CPI rental adjustments with a max increase of 3% per year. Tenant…

Property Description

Bellevue is a rapidly growing city in the Eastside region of King County, across Lake Washington from downtown Seattle within the Seattle MSA. Long known as a suburb or satellite city of Seattle, it is now categorized as an edge city or a “boomburb”. The population was 122,363 at the 2010 census. Downtown Bellevue is undergoing rapid change. It is currently the second largest city center in Washington state with over 35,000 employees and 5,000 residents. Based on per capita income, Bellevue is the 6th wealthiest of 522 communities in the state of Washington. In 2008, Bellevue was named number 1 in CNN Money's list of the best places to live and launch a business. The City of Bellevue is frequently ranked as the “best place to live in America” by business and lifestyle magazines and websites.