CONFIDENTIALITY DISCLAIMER
This offering has been prepared solely for informational purposes. It is designed to assist a potential investor in determining whether it wishes to proceed with an in-depth investigation of the subject property. While the information contained herein is from sources deemed reliable, it has not been independently verified by the MAJ Commercial Real Estate affiliate or by the Seller.
The projections and pro forma budget contained herein represent best estimates on assumptions considered reasonable under the circumstances. No representations or warranties, expressed or implied, are made that actual results will conform to such projections. This document is provided subject to errors, omissions and changes in the information and is subject to modification or withdrawal. The contents herein are confidential and are not to be reproduced without the express written consent.
Interested buyers should be aware that the Seller is selling the Property “AS IS” CONDITION WITH ALL FAULTS, WITHOUT REPRESENTATIONS OR WARRANTIES OF ANY KIND OR NATURE. Prior to and/or after contracting to purchase, as appropriate, buyer will be given a reasonable opportunity to inspect and investigate the Property and all improvements thereon, either independently or through agents of the buyer’s choosing.
The Seller reserves the right to withdraw the Property being marketed at any time without notice, to reject all offers, and to accept any offer without regard to the relative price and terms of any other offer. Any offer to buy must be: (i) presented in the form of a non-binding letter of intent; (ii) incorporated in a formal written contract of purchase and sale to be prepared by the Seller and executed by both parties; and (iii) approved by Seller and such other parties who may have an interest in the Property. Neither the prospective buyer nor Seller shall be bound until execution of the contract of purchase and sale, which contract shall supersede prior discussions and writings and shall constitute the sole agreement of the parties.
Prospective buyers shall be responsible for their costs and expenses of investigating the Property and all other expenses, professional or otherwise, incurred by them.
MAJ COMMERCIAL REAL ESTATE
MAJ Commercial Real Estate is excited to present the opportunity to acquire a Multi-Tenant NNN Lease Investment located in Lacey, WA. The property is leased to Banfield Pet Hospital and ShareTea, which are both on brand new 10-year leases with two options to extend for 5-years. Banfield Pet Hospital and ShareTea are part of Pacific Station, which includes Co-Tenants such as, 7-Eleven, Chipotle, MOD Pizza and Five Guys Burgers and Fries. Pacific Station is ideally located at the intersection of Pacific Ave SE and Sleater Kinney RD SE, which is encompasses approximately 71,644 vehicles per day and just south (0.50 miles) of I-5. Some of the surrounding businesses include, Fred Meyer, Target, Starbucks, Chase Bank, Marshalls and more.
PROPERTY SUMMARY
PROPERTY ADDRESS:
TENANTS:
4018 Pacific Avenue SE, Lacey, WA
BANFIELD PET HOSPITAL AND SHARETEA
LEASE TYPE: NNN
YEAR BUILT: 2025
BUILDING SIZE:
OWNERSHIP TYPE: Fee Simple
INVESTMENT HIGHLIGHTS
Located in an Income Tax Free State
Situated on a Controlled Intersection (+/-71,644 VPD)
Part of Pacific Station Shopping Center Development
LEASE SUMMARY
LEASE GUARANTOR: Banfield Pet Hospital
NUMBER OF LOCATIONS: 1,000+
HEADQUARTERS: Vancouver, WA
WEBSITE: www.banfield.com
PROPERTY ADDRESS:
4018 Pacific Avenue SE Lacey, WA
GUARANTOR:
Medical Management International, Inc.
SQUARE FOOTAGE: ±4,600 SF
TERM: 10-Years
EXTENDED TERMS: Two, 5-Year Options
LEASE TYPE: NNN
LANDLORD RESPONSIBLE: Roof and Structure
COMMENCEMENT DATE: April 9, 2025
MANAGEMENT FEE: 10% of CAM Charges
Banfield Pet Hospital is a leading chain of veterinary care clinics specializing in preventive health services for pets. Founded by Warren J. Wegert in 1955 in Portland, Oregon, it has expanded to over 1,000 locations across the United States, Mexico, and Puerto Rico. Banfield offers services such as vaccinations, diagnostics, surgery, and dental care, with a focus on affordability and accessibility.
In 1994, Banfield partnered with PetSmart, establishing clinics in their stores for convenience. Known for its Optimum Wellness Plans, the chain helps pet owners manage preventive care throughout their pets’ lives. Banfield is also active in community support through the Banfield Foundation, which promotes pet wellness and provides veterinary care to animals in need.
Tenant shall have the right to terminate the Lease after the fifth anniversary of the Commencement Date. If Tenant exercises their early termination right, Tenant shall pay Landlord $100,000. * Includes prorated rent for partial month, if any.
LEASE SUMMARY
LEASE GUARANTOR: ShareTea
NUMBER OF LOCATIONS: Over 400+ store locations across 4 continents and 12 countries
HEADQUARTERS: New York, NY
WEBSITE: www.1992sharetea.com
PROPERTY ADDRESS:
4018 Pacific Avenue SE Lacey, WA
GUARANTOR: Individual
SQUARE FOOTAGE: ±1,200 SF
TERM: 10-Years
EXTENDED TERMS: Two, 5-Year Options
LEASE TYPE: NNN
LANDLORD RESPONSIBLE: Roof and Structure
COMMENCEMENT DATE: Est. January 25, 2025
MANAGEMENT FEE: $250.00 per month
Sharetea is a Taiwanese bubble tea brand known for its high-quality beverages, including milk teas, fruit teas, and specialty drinks. Founded by Cheng KaiLung in 1992 in Taipei, it began as a small tea-to-go business and grew into an international franchise. The brand emphasizes authenticity, using premium Taiwanese tea leaves and fresh toppings like tapioca pearls and grass jelly.
With locations in over 20 countries, including the United States, Canada, and Australia, Sharetea has gained global recognition. Its commitment to freshness and customization has attracted a loyal customer base. Through its robust franchising model, Sharetea continues to bring Taiwanese tea culture to new communities worldwide.
Monument SIGN
SIMUL ATED NIGHT VIEW
P A C I F I C S T A T I O N
REGULAR UNLEADED
GASOLINE
MIDGRADE UNLEADED
GASOLINE
PREMIUM UNLEADED
GASOLINE
SITE PLAN
PROPERTY PHOTOS
SOUTH SOUND CENTER
SURROUNDING AREA
SUBJECT PROPERTY
SLEATER KINNEYRDSE
LACEY WA
LACEY, WA
Lacey is a city in Thurston County, Washington, United States. The population was 42,393 at the 2010 census and an estimated 53,526 in 2019, making it one of the fastest-growing cities in the region. Lacey is known for its commitment to sustainability, boasting several parks, nature preserves, and recreational facilities. It is home to Saint Martin’s University, a private Benedictine university, and serves as a gateway to the nearby Nisqually National Wildlife Refuge, offering ample opportunities for outdoor activities and wildlife observation.
Lacey is located just east of Olympia, the state capital, and is part of the greater Olympia-Tumwater-Lacey metropolitan area. The city is bounded by Interstate 5 to the west, with access to major transportation routes leading to Seattle and Portland. It features several distinct neighborhoods and commercial areas, including Hawks Prairie to the northeast and Woodland District in the city center. The city is bordered to the west by Olympia, to the south by Tumwater, and to the north by Puget Sound, with its shoreline offering scenic views and waterfront access.
According to the United States Census Bureau, Lacey has a total area of 16.51 square miles, of which 16.06 square miles are land and 0.45 square miles are water. Its proximity to the Puget Sound, Mount Rainier, and the Cascade Mountains makes it an attractive destination for residents and visitors alike.
FRIENDLY GROVE PARK
SKATELAND
NORTH THURSTON HIGH SCHOOL
SUBJECT PROPERTY
WONDERWOOD PARK
REGIONAL ATHLETIC COMPLEX
1 Mile
3 Miles
5 Miles
DEMOGRAPHICS
BUSINESS
INCOME
