OFFERING MEMORANDUM: Gardner Center, Battle Ground, WA

OFFERING MEMORANDUM
BATTLEGROUND CINEMA & TWO MULTI-TENANT BUILDINGS
A PORTION OF GARDNER CENTER • 1710 SW 9th Avenue • Battle Ground, Washington • 98604
In Conjuntion With:
Tim Burton | Texas Broker
800.261.5953 • tburton675@gmail.com
Arvin Vander Veen
206.654.0521 • arvin.vanderveen@colliers.com

Information contained herein has been obtained from reliable sources, however, we do not guarantee its accuracy. Battleground Cinema & Two Multi-Tenant Buildings • 2
This Offering Memorandum has been prepared by Tim Burton and is proprietary and strictly confidential. While we do not
doubt its accuracy, we have not verified it, and make no guarantee, warranty or representation about it. It is the responsibility
of the prospective Buyer to confirm, independently, its accuracy and completeness. It is intended to be reviewed only by the
party receiving it from Tim Burton and should not be made available to any other person or entity without the written consent
of Tim Burton. The information contained herein is not a substitute for thorough due diligence on the part of prospective
Buyer’s. Tim Burton makes no warranty or representation with respect to the size and square footage of the property, the
improvements, the presence or absence of contaminating substances, the compliance with State and Federal regulations
and the physical condition of the improvements. All potential Buyer’s must take appropriate measures to verify all the
information set forth herein.
Disclaimer

Property Overview
This multi-tenant retail property is anchored by Battleground
Cinema, an 8-Screen first run movie theatre. This offering includes
the cinema and Buildings “B” and “D” totaling 42,450 SF GLA.
The site is located in the NEQ of Highway 503 and SW Eaton
Boulevard. One block to the north is a new Super Walmart with
Panda Express and Wendys on outparcels. Highway 503 (SW 10th
Avenue) is a main thoroughfare from Vancouver, Washington to
Battleground. Daily traffic counts are 18,000 - 22,000 vehicles per
day on Highway 503.
Built in 2004, the property is 93% leased to Battlegroun Cinema,
Mill Creek Pub, Subway and 6 other tenants. This is a NNN lease
property with minimal landlord responsibility.
2015 Highlights includes new roofing on Building B and D.
THEATRE | Battleground Cinema
SIZE 18,000 SF
BUILDING B | Mill Creek Pub
Richardson Eye
Rising Sun Teriyaki Grill
Urban Styles Salon & Spa
Family Insurance
Gentle Dental
SIZE 19,161 SF
BUILDING D | Subway
Keo Thai Cuisine
SIZE 5,289 SF
TOTAL GLA 42,450 SF
YEAR BUILT 2004
OCCUPANCY 92.84%
LOT SIZE 186,437 SF OR 4.28 Acres
PARKING 296 Spaces

Offering Summary
PRICE | $13,000,000
CAP RATE | 6.5%
CURRENT NOI | $850,142
LEASE TYPE | NNN
Click Here For The Clark County
Appraisal Information
INVESTMENT HIGHLIGHTS
NEW ROOF
The owners replaced the roof and substructure on building B and D in 2015 at a cost of
$1.0MM. Future Landlord responsibility for Capital Expenditures is limited.
MOVIE THEATRE ANCHORED CENTER
This property (Gardner Center) has the only 1st run movie theatre in the town of Battle
Ground. No other theatre exists within a 5-mile radius. This center has become a gathering
place for “dinner & a movie”.
INGRESS & EGRESS
Ingress and egress significantly improved with the completion of the signalized
intersection at SW Scotton to the north in 2015. Southern access remains the same from
a designated L-turn at SW Eaton Blvd. All access in the trade area is the same from
Highway 503.
ABUNDANT PARKING
296 Parking Spaces for a ratio of 6.97 spaces per 1,000 SF of GLA.

Regional Map
Information contained herein has been obtained from reliable sources, however, we do not guarantee its accuracy.
SITE
Battleground Cinema & Two Multi-Tenant Buildings • 5

Macro Aerial
SW Eaton Blvd 14,000 vpd
25,000 vpd 9,000 vpd21,000 vpd
13,000 vpd
8,000 vpd12,000 vpd
18,000vpd
5,000vpd
22,000vpd
W Main St
W Main St
SW Scotton Way
NE 199th St
SW10thAve
NE112thAve
SW10thAve
NE142ndAve
SParkwayAve
BATTLE
GROUND
HIGH SCHOOL
SITE
BATTLE GROUND
CINEMAS

Oblique Aerial
SW Eaton Blvd
SW Scotton Way
SW Scotton Way
14,000 vpd
8,000 vpd
MAPLE GROVE
SCHOOL
18,000vpd
NE 199th St
SW10thAve
WETLANDS
Owned By
Others
Owned By
Others
BATTLE GROUND
CINEMAS
BUILDING
B
BUILDING
D

Site Plan
SW 10th Ave
BATTLE GROUND
CINEMAS
17,800 SF
BUILDING B
19,253 SF
296 PARKING SPACES
BUILDING D
5,289 SF

Rent Roll
TENANT NAME SF PRORATA LEASE MONTHLY ANNUAL ANNUAL REIMBURSEMENT METHOD
SHARE START EXPIRE RENT $ RENT $ RENT PSF COMMENTS
Battle Ground Cinema 18,000 42.40% 5/1/2005 4/30/2030 $29,255.87 $351,070.44 $19.50 2% BUMPS Annually
BUILDING “B”
Mill Creek Pub 6,219 14.65% 11/1/2011 10/31/2021 $8,000.00 $96,000.00 $11.38
Mill Creek Catering 2,220 5.23% MTM $1,000.00 $12,000.00
Mill Creek Pub % Rent $8,356.43 $100,277.13 $11.88 6% of Gross Sales
Edward Jones 1,152 2.71% 9/1/2006 8/31/2016 $2,068.61 $24,823.32 $21.55 (1) 5-Year Renewal Option
Richardson Eye 1,685 3.97% 7/1/2014 6/30/2021 $2,387.08 $28,644.96 $17.00 (1) 5-Year Renewal Option
Rising Sun Teriyaki 998 2.35% 6/1/2005 7/31/2021 $1,996.00 $23,952.00 $24.00 2% Bumps Annually
Urban Styles Salon 1,046 2.46% 8/1/2007 8/31/2016 $1,600.00 $19,200.00 $18.36 In Renewal Negotiations
Gentle Dental 4,641 10.93% 6/29/2005 5/31/2022 $10,135.35 $121,624.20 $26.21 (1) 5-Year Renewal Option
Vacant 1,200 2.83%
BUILDING “D”
Keo Thai Cuisine 1,750 4.12% 4/1/2006 7/31/2021 $3,354.17 $40,250.04 $23.00 2% Bumps Annually (1) 5-Year Renewal Option
Subway 1,700 4.00% 10/1/2005 9/30/2020 $2,691.67 $32,300.04 $19.00 5% Bumps Yr. 2017 & 2019
Vacant 1,839 4.33%
TOTAL SF GLA 42,450
% Leased 92.8%
% Vacant 7.2%
Annualized NOI $70,845.18 $850,142.13

Market Overview
DEMOGRAPHICS
1 Mile 3 Miles 5 Miles
Population 9,110 27,281 47,107
Average Household Income $70,536 $76,476 $84,371
Households 3,122 9,065 16,005
Businesses 369 916 1,491
Daytime Population 2,756 6,745 10,461
BATTLEGROUND, WASHINGTON
ThecityofBattleGroundliesnearthegeographicalcenterofClark
County, 16 miles northeast of Vancouver in the southwestern
part of the Washington State. It the fifth-most populous county
in Washington (2010 Census). Battle Ground’s estimated 2014
population was 18,680 up 6.3% from the previous census.
Vancouver is the county seat and largest city in Clark County.

All real estate sectors of Battle Ground have benefited in recent
years from residential development as the greater Vancouver
urban area expands east. Single-family residential development
in Battle Ground is newer suburban style subdivisions, marketed
as affordable alternatives to closer-in locations.
ACCESS & ROAD IMPROVEMENTS
Located approximately five miles east of Interstate 5, regional
access to the south is direct via SR-503, which was recently
improved to four lanes between Battle Ground and SR-500 in
Vancouver. WSDOT is widening SR-502 between I-5 east to
the City of Battle Ground. SR-502 will be a four lane highway
with median barrier and 10-foot shoulders for bicycles and
pedestrians.
Battle Ground School District contains three schools that received
gold, silver or bronze medals in the U.S. News Best High Schools
rankings.
REAL ESTATE
The median home value in Battle Ground is $305,100. Battle
Ground home values have gone up 9.8% over the past year and
Zillow predicts they will rise 4.2% within the next year.

Additional Photos

Broker Concession: 2%
Additional Documents Available To Qualified Investors:
• Detailed Rent Roll
• Lease Abstracts
In Conjuntion With:
Tim Burton | Texas Broker
800.261.5953 • tburton675@gmail.com
Arvin Vander Veen
206.654.0521 • arvin.vanderveen@colliers.com

OFFERING MEMORANDUM: Gardner Center, Battle Ground, WA

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OFFERING MEMORANDUM: Gardner Center, Battle Ground, WA