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Johnstone Property 2505 Airport Way S 20,060 SF 100% Leased Industrial Building Seattle, WA 98134 $8,762,062 CAD ($436.79 CAD/SF) 5.95% Cap Rate

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Investment Highlights

2,016 s.f. office 2,100 s.f. Showroom
Recent renovation 2024 and 2026

1 ramped drive-in door
120/208V, 3-phase and 120/240V, single phase

Executive Summary

JLL, as exclusive advisor, is pleased to present this rare opportunity to purchase 2505 Airport Way South-Seattle (“the Property”), a fully leased, 20,060 square foot office and distribution facility located on the key arterial, Airport Way South, in the SODO industrial submarket of Seattle, WA. The property is leased to a single tenant, a leading wholesale distributor for HVAC equipment, which has been in the facility since 2007. This dock-high and drive-in served facility features on site truck maneuvering, on-site auto parking, exposure to Airport Way South customers and immediate access to I-5, I-90, Ports of Seattle and Seattle CBD. The existing lease expires December 31, 2028, with triple net, market rent and 3.25% annual escalations.

Johnstone Property

Property Facts

Price	$8,762,062 CAD	Rentable Building Area	20,060 SF
Price Per SF	$436.79 CAD	No. Stories	1
Sale Type	Investment	Year Built/Renovated	1958/2026
Cap Rate	5.95%	Parking Ratio	0.3/1,000 SF
Property Type	Industrial	Clear Ceiling Height	20’
Property Subtype	Warehouse	No. Dock-High Doors/Loading	3
Building Class	C	No. Drive In / Grade-Level Doors	1
Lot Size	0.55 AC	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	MML U/85 - MML U/85

Price	$8,762,062 CAD
Price Per SF	$436.79 CAD
Sale Type	Investment
Cap Rate	5.95%
Property Type	Industrial
Property Subtype	Warehouse
Building Class	C
Lot Size	0.55 AC
Rentable Building Area	20,060 SF
No. Stories	1
Year Built/Renovated	1958/2026
Parking Ratio	0.3/1,000 SF
Clear Ceiling Height	20’
No. Dock-High Doors/Loading	3
No. Drive In / Grade-Level Doors	1
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	MML U/85 - MML U/85

Bus Line

Fenced Lot

Signage

Wholesaler
99,999 SF
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Johnstone Supply began in 1953 as a single store in Portland, Oregon, serving local contractors. The company grew into a wholesale distributor focused on HVACR equipment, genuine OEM parts, repair and replacement parts, and installation and maintenance supplies for residential, light commercial, refrigeration, hydronics, and facilities maintenance work. Johnstone Supply now supports contractors through a wide network of wholesale locations, an eCommerce platform, an online catalog, mobile tools, distribution centers, and training programs that help customers source parts, place orders, and build product knowledge.