4301 78th Street, SW, Mukilteo

Brand New Industrial Space to Buy or Lease

Units Available 16,431 SF – 33,552 SF

Building Plan

Features and Specifications 

  • 24 ft clear height in the warehouse (minimum 11 ft clear under mezzanines)
  • Steel and concrete mezzanine included in each unit with 125lbs per sq ft floor load capacity
  • Warehouse with 6” concrete slab
  • Over 1.5 parking stalls per 1,000 sq ft of area available (22 allocated to each unit)
  • One grade loading per unit and 2 or 4 dock-high loading bays per unit (see floorplans)
  • 3-phase power to each unit of 200a (2000a service to building)
  • ESFR sprinkler system
    Gas-fired heaters to code for warehouse space
  • Each unit comes with a finished vestibule, entryway, one finished ADA washroom and mezzanine
  • Demising walls between units finished with fire-taped drywall
  • Unit 101 and 104 delivered with turn-key office, per floorplan attached
  • Unit 102 and 103 can be delivered with built-to-suit, see concept plans and inquire with broker

Call Listing Broker for Pricing / Lease Rates

Purchased or Leased Units can be delivered with build to suit office.

Why Buy vs Rent?

If you want to buy instead of rent, this is a unique opportunity to purchase Industrial Condominium units

SECURITY & CONTROL

Grow your business with confidence.

No lease term. No large rent escalations on renewals. No landlord.

Significantly lower capital repairs for the immediate future with a new building versus capital repair costs of an older existing building.

BUILD EQUITY

Pay yourself, not the landlord. Each month’s mortgage payment contributes towards principal repayment.

Benefit from capital appreciation as Seattle industrial assets continue to increase in value.

Take advantage of tax saving opportunities through depreciating improvements.

SAVE MONEY

Mortgage interest over 5-10 years of occupancy can be less than rent on the equivalent space.

Money spent on improvements are owned by you and for your benefit in perpetuity.

Fix your real estate costs for the long term.

BUSINESS FLEXIBILITY

Sell your business, keep the asset.

Sell your unit, lease-back for the business.

Sell both.

Condo Ownership FAQ

What is an Owner’s responsibility? 
  • Own everything inside your four walls. Exclusive rights for parking stalls and loading bays. Improvements within the unit can be done at your discretion. 
  • Storefront entry, glazing and loading doors. 
  • All mechanical HVAC equipment servicing your unit. 
  • Owner specific signage. 
 What is a shared responsibility and how are they managed? 
  • Common Elements are shared infrastructure or property. The Condominium Covenants, Conditions, and Restrictions outline basic rules amongst Owners for use of shared property. 
  • The following are common elements:
    • Landscaping including an entry monument sign 
    • Exterior lighting 
    • Building envelope (including paint), skylights, and roofing/membrane 
    • fire suppression system, fire riser room, common electrical room 
    • Asphalt, vehicle surfaces, and garbage enclosures. 
    • Users will have exclusive rights to use of designated stalls and loading bays – Rockeries and site fencing around the site perimeter 
    • Stormwater system and all utilities from the lot line to the unit connections/meters 
 What are shared costs? 
  • A Professional Property Management firm has been arranged to assist Owners in managing the Condominium Association and administering the accounting for all shared costs. 
  • Shared operating costs are approved by Owners through an annual operating budget and paid through monthly fees. Costs are similar to what tenants typically pay in a lease. As a Condominium Owner, you have direct control over budget. 
  • Typical shared costs for the common elements listed above include: landscaping, snow removal, property management services, minor repairs, parking lot maintenance, wastewater charges billed by the City of Mukilteo, etc. 
  • Condominium Owners also share infrequent larger expenses or capital investments for the building such as envelope repair, skylight repair, or roof replacements. Owners may decide to contribute monthly towards a Reserve Fund to set aside funds for this purpose. 
  • Preliminary budgeting estimates Operating Expenses at $0.15-$0.17 per SqFt per month. 
What costs do Owners pay directly? 
  • Most utilities are tied directly to each Unit and its consumption:
    • Electricity: billed directly to each unit from Snohomish PUD 
    • Gas: billed directly to each unit from Puget Sound Energy 
    • Water: billed to the Condominium Association and then allocated to each Unit via a submeter reading 
  • Property Tax: is the responsibility of each unit Owner as assessed by Snohomish County 

Teams

MOSAIC (USA)

Mosaic has been active building in Washington State since 2001 and is a co-founding partner of Rise Properties Trust, which today has over $2.8bn of rental apartment assets under management throughout the Puget Sound and Portland. In British Columbia, Mosaic is one of Vancouver’s largest builders with over 6,500 homes and commercial spaces built and an active development pipeline of over $1.2bn.

SYNTHESIS (ARCHITECT)

The team of Randy Brown and John Llacuna of SynThesis Architects PLLC bring over 40 years of experience in architecture working on a large array of industrial and commercial projects throughout the Pacific Northwest.

FOUSHEE (GENERAL CONTRACTOR)

Foushee is a Bellevue based general contractor which has been operating in the Seattle market since 1977. With their experienced project teams, Foushee provides the full range of construction services including pre- construction, construction, and post construction services. Recently completed projects nearby in Everett include a distribution warehouse for Amazon, a distribution center for FedEx, and a warehouse for lease by Underwood Gartland.

Mosaic reserves the right to make modifications and/or changes.
Sizes, dimensions, square footages, specifications and features may vary. E.&O.E.

MORE INFO

Talor Okada
+1 425 586 5605
talor.okada@colliers.com

Rich Sander
+1 425 586 5609
rich.sander@colliers.com