425-891-5115
6100 219th St Sw, Mountlake Terrace, WA for Sale
Office - FOR SALE
1/8
null | Request Cap Rate

6100 219th St Sw
Mountlake Terrace, WA 98043
Melody Hill


HIGHLIGHTS

  • Rare opportunity to acquire a best-in-class, multi-tenant office building with 3.6 years of WALT
  • Redstone II is among the highest quality and most improved office buildings north of Seattle at the intersection of modern appeal and suburban conveni
  • Recent leasing demonstrates rent growth and tenant retention
  • Redstone II offers rent roll diversity with durable tenants and approximately 45% medical tenancy
  • The remaining vacancies at Redstone II are well-suited to meet Northend tenant demand.
  • Offered at substantial discount to replacement cost with recent and thoughtful renovations

OVERVIEW

Jones Lang LaSalle Americas, Inc. (“JLL”), as exclusive advisor, is pleased to present Redstone II (the “Property” or “Building”), a premier investment opportunity in the rapidly growing Northend submarket of Seattle. Redstone II, a five-story, 121,866 SF office and medical building, stands as the preeminent office property in Mountlake Terrace and the Northend, offering a compelling blend of stable cash flows, value-add potential, and strategic location just 15 minutes north of downtown Seattle. The Property has undergone significant renovations, positioning it at the forefront of modern office design while maintaining its suburban convenience. With a weighted average lease term (WALT) of 3.6 years and current occupancy at 67%, Redstone II presents investors with an exceptional opportunity to benefit from existing income while capitalizing on substantial upside through lease-up of remaining spaces. The recent success of Redstone II’s renovations is evident, with 40% of the existing leased space experiencing renewals within the last 18 months, comprising four tenants. This recent activity underscores the asset’s growing appeal in a rising market and reinforces that tenants who move to Redstone II tend to stay. Strategically located and highly visible from the I-5 freeway, Redstone II offers convenient access to both downtown Seattle and Northend communities including the best neighborhoods in the county. The Property’s prime setting places it between the newly opened Mountlake Terrace and Lynnwood light rail stations. This enhanced accessibility has catalyzed economic development in the surrounding areas, directly benefiting properties like Redstone II. As companies reevaluate their real estate strategies, many are seeking high-quality suburban locations that offer modern amenities, ample parking, and easy access to public transportation. Redstone II, accounting for almost 10% of Class A inventory in the Northend, is ideally positioned to capitalize on this shift in demand. With limited existing inventory and no new supply forecasted, Redstone II stands out as a rare opportunity for investors to acquire a best-in-class asset at a substantial discount to replacement cost. With the area’s recent infrastructure improvements and the Property’s modern renovations, Redstone II is well-positioned to lead the submarket in both occupancy gains and rent growth, making it a compelling addition to any investment portfolio.

FOR SALE DETAILS

PRICE

Request Info for Price

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Redstone Corporate Center II

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

5

BUILDING CLASS

A

YEAR BUILT

1999

SPRINKLERS

-

PARKING SPACES

331

LAND DETAILS

LAND ACRES

2.03 AC

LAND SF

88,427 SF

ZONING

CG

APN/PARCEL ID

007476-000-001-00

ASK ABOUT THIS PROPERTY

Sam ZiembaJLLMore Info
425-891-5115

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Sam ZiembaJLLMore Info
425-891-5115

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.