Diversified Four - Tenant Paint Retail Cluster | The portfolio spans three buildings and four tenants, all within a half- mile radius of each other, leased to four distinct national and regional paint retailers, Mallory Paint (an authorized dealer to Benjamin Moore), PPG Paints, Sherwin - Williams, and Rodda - Miller Paint. This tight - knit cluster delivers tenant and brand diversification within the specialty paint retail category, while capturing the efficiencies of a concentrated trade area. Decades of Tenant Continuity Every site in the portfolio has operated continuously as a paint retailer since between 1994 and 2004, reflecting over two decades of uninterrupted, specialized retail use and reinforcing each location's entrenched position within the local paint and coatings trade. No State Income Tax Washington is one of only nine states with no personal state income tax, giving investors a distinct after - tax yield advantage over comparable assets in higher - tax markets and reinforcing Seattle's pull as a magnet for corporate relocation and population growth. Infill Scarcity / High Barriers to Entry The properties occupy hard - to- replicate, industrially - zoned infill land close to downtown Seattle and the Port, where new industrial development is constrained by limited available sites and rising construction costs, supporting long - term asset value. Exceptional Seattle Demographics The subject properties sit within an exceptional Seattle infill trade area, with more than 195,800 people within 3 miles and over 415,000 within 5 miles. Affluent Surrounding Community The subject properties are situated within an affluent Seattle community, with average household incomes of $139,100 within a 1- mile radius and $144,000 within a 3 - mile radius.