NORTH CREEK FOR SALE. Redevelopment Sites. Bothell. Two Sites Totaling Acres Bothell, WA 98011

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1 FOR SALE NORTH CREEK Redevelopment Sites Bothell 24 23B 23A 24 Two Sites Totaling Acres Bothell, WA 98011

2 CenturyPacific, LLLP Steven L. Wood Managing Director Michael E. Finch Vice President Campbell Mathewson Executive Vice President Katherine K. Laird Executive Vice President

3 PROPERTY OFFERING MEMORANDUM CenturyPacific, LLLP ( CenturyPacific ) has been retained on an exclusive basis by the Seattle Times Company ( Seller ) to offer for sale approximately 533,610 SF (12.25 acres) of land in Bothell, Washington (the Property ). The Seller requires that all inquiries and communications with respect to the contemplated sale of such Property be directed to CenturyPacific, LLLP. On behalf of the Seller, CenturyPacific may make certain Property information available to prospective buyers (Recipient). In consideration of the foregoing, and the representations of the Recipient as to its interest in this acquisition opportunity, pursuant to the process set forth below and other good and valuable consideration, the Recipient agrees to the following terms: 1. The Recipient hereby acknowledges that it is a principal or an investment advisor in connection with the possible acquisition of the Property and agrees that it will not look to the Seller or to CenturyPacific for any fees, commissions, compensation or reimbursement in connection with the sale of the Property unless expressly agreed to in writing by Seller. All fees due to CenturyPacific in connection with the sale of the Property will be paid by the Seller. 2. The Property information (Evaluation Material) to be made available herein is intended solely for Recipient s use in considering whether to pursue negotiations to acquire the Property. Recipient acknowledges that this is not an agreement to sell the Property or an offer of sale. No agreement binding upon the Seller of the Property, or any of its associated or affiliated entities, shall be deemed to exist, at law or equity, until the Seller of the Property enters into a formal written agreement of sale. Seller may, in its sole discretion, reject any or all offers to purchase the Property. Seller s acceptance of any offer is subject to, and contingent on, approval by all Sellers of the Property. 3. The Evaluation Material does not purport to provide a necessarily accurate summary of the Property or its development potential, nor does it purport to be all-inclusive or to contain all of the information that a prospective investor may need or desire. Any and all financial projections are based on assumptions relating to the general economy, competition and other factors beyond the control of CenturyPacific and are subject to material variation. Further, the Evaluation Material does not constitute an indication that there has been no change in the business or affairs of the Property, the Seller or CenturyPacific since the date of preparation of this Evaluation Material. Access to information in a document library will be made available to interested prospective buyers. Prior to entering into a binding contract, qualified prospective buyers will have an opportunity to physically inspect the Property in a noninvasive manner. 4. Recipient acknowledges and represents that neither CenturyPacific nor any of its respective officers, principals, agents or contractors have made or will make any representations or warranties, expressed or implied, as to the accuracy or completeness of this Evaluation Material or any of its contents, and no legal commitment or obligation shall arise by reason of the Evaluation Material or other marketing materials. Analysis and verification of the information contained in the Evaluation Material is solely the responsibility of the Recipient. 5. The Evaluation Material may contain brief, selected information pertaining to the business and affairs of the Seller in connection with the Property, and has been assembled by CenturyPacific, primarily from information supplied by the Seller or the Seller s consultants. CenturyPacific and Seller do not purport to be all-inclusive or to contain all the information that a prospective purchaser may desire. Neither CenturyPacific nor the Seller make any representation or warranty, expressed or implied, as to the accuracy or completeness of the Property Information and no legal liability is assumed or implied with respect thereto. 6. If you do not wish to pursue acquisition negotiations you agree to discontinue use of the document library, Evaluation Material and/or any other materials assembled for the sale offering.

4 TABLE OF CONTENTS THE OFFERING 1 The Opportunity North Site South Site PROPERTY DETAILS 2 Location Zoning Title Report Property Survey Environmental IGHBORHOOD 3 Bothell Education Demographics & Economy Household Income BOTHELL EMOYERS 5 EASIDE EMOYERS 6 AMENITIES 7 WIRIES & BREWERIES 8 PHOTOS 9 MAP 13

5 THE OPPORTUNITY THE OFFERING North Creek Development Opportunity CenturyPacific, LLLP, as the exclusive representative for the Seattle Times Company, is pleased to offer for sale two development sites totaling acres located at the southeast corner of 195th Street and 120th Ave in Bothell, Washington. This exceptionally well-located development offering consists of a northern parcel (approx acres) and a southern 2-lot assemblage (approx acres) in the densifying city of Bothell --15 minutes from Downtown Bellevue and 25 minutes from Downtown Seattle. HIGHLIGHTS 2 sites totaling acres Flexible City of Bothell zoning Excellent access to I-, I- Proximity to major employers Strong area demographics Offered at $24,500,000 NORTH SITE Location: Southeast corner of 195th Street and 120th Avenue Parcel Number: Land Area: + / Acres Present Use: Vacant Land SOUTH SITE Location: East side of 120th Avenue at North Creek Parkway South Parcel Numbers: Land Area (assemblage): +/ Acres Present Use: Vacant Land, Parking Page 1

6 PROPERTY DETAILS North Creek Development Opportunity PROPERTY LOCATION The property is located in the North Creek area of Bothell, less than ½-mile from I- (107,000 average trips/day) and 1.2-miles to I- (35,000-93,000 average trips/day).1 Starbucks, 24-hour Fitness and a variety of service businesses are within walking distance of the property. With several major employers in the immediate vicinity and dozens of regional and national employers within close proximity - including Redmond (8-miles), Kirkland (8-miles), Lynnwood (10-miles), Bellevue (12-miles), and Seattle (20-miles) - the property is well-suited for a mix of uses ranging from multifamily apartments to commercial office. 1 WSDOT Annual Average Daily Traffic (AADT), ZONING The Property is zoned City of Bothell R-AC (Residential-Activity Center), OP (Office-Professional), CB (Community Business), LI (Light Industrial), providing for a broad range of uses including residential, hospitality, office, personal and professional services, and light industrial. In addition to basic development standards and CC&Rs, the Property is subject to the North Creek/195th Street Subarea requirements. See Title 12 of the Bothell Municipal Code. TITLE REPORT A preliminary title report issued by First American Title Insurance Company is available in the online property library. PROPERTY SURVEY An ALTA property survey performed by Bush, Roed & Hitchings, Inc. is available in the online property library. ENVIRONMENTAL No known issues. Prospective purchasers should conduct their own due diligence, including environmental due diligence. Lake Sammamish Bellevue Kirkland Redmond Lake Wa s h i n g t o n Seattle Woodinville North Creek Property Page 2 Bothell

7 IGHBORHOOD North Creek Development Opportunity Northshore School District Grades PK-12 Schools 35 9out of 10 RENT TRENDS Best School Districts in Washington State Northshore School District #7 out of 236 Apartment rents in Bothell have increased by 10.3% in the past year. BOTHELL Originally a logging and farming community and then developed as a suburb of Seattle, Bothell has evolved into a vibrant city with its own unique Pacific Northwest charm. Bothell offers a wonderful quality of life including a strong public education system, eclectic local restaurants, a quaint-yet-progressive urbanizing downtown, the Burke-Gilman Trail and a network of public recreation options. Bothell is attractive to businesses and residents due to its location: a mere 12 miles northeast of Seattle, with easy access to the business centers of Seattle, Bellevue and Everett via Interstates 5 and. EDUCATION The Property, and Bothell as a whole, is served by the Northshore School District. The Northshore District is ranked #7 in Washington State by Niche and receives a 9 (out of 10) from GreatSchools. Created in 1959 to combine the public education needs of Bothell, Woodinville and the surrounding communities, the Northshore District consistently ranks among the best educational systems in Washington State. The Woodinville Montessori School is within a few blocks of the Property, offering K-12 education. Bothell is also home to a thriving University of Washington campus with an annual enrollment of over 5,000 students across 45 educational programs. In 2014, it was estimated that 14.8% of the population age 25 and over in this area had earned a Master s, Professional s, or Doctorate Degree and 30.7% had earned a Bachelor s Degree. In comparison, for the United States, it is estimated that for the population over age 25, 11% had earned a Master s, Professional s or Doctorate Degree, while 18.3% had earned a Bachelor s Degree. 35% 30% 25% 20% 15% 10% 5% 0% BOTHELL US Master s, Professional s or Doctorate Degree Bachelor s Degree Page 3

8 IGHBORHOOD North Creek Development Opportunity DEMOGRAPHICS & ECONOMY Bothell s estimated population is 33,505 according to the most recent (2015) United States census. The median household income in Bothell was $81,972 in 2015, which represents a 8.37% growth from the previous year Job growth in Bothell approached 20%. Future job growth over the next ten years is predicted to be 38.86%. The median household income is $75,643. Bothell is one of the highest income areas in the State with average household income of $97,751. *sources: DataUSA.io, city-data.com, bothell.wa.us, edc.-seaking.org/location/bothell Number of households 2,500 2,000 1,500 1, Under $20k $20k - $50k $50k - $75k $75k - $100k $100k - $150k $150k + Income Page 4

9 EMOYMENT BOTHELL EMOYERS North Creek Development Opportunity Bothell has become a significant employment regional submarket with a variety of employers including professional services, telecommunications, software, aerospace, life science and biomedical device industries. The area benefits from abundant and easy access to employment-supportive amenities, such as retail, restaurant, hotel, and business services B A NORTH CREEK PROPERTY Vertafore Inc Tethers Unlimited Inc AT&T Employee Corporation Kaiser Permanente Ekos Corporation Boeing Seattle Times Company IC Inc Google Bothell SNC Lavalin Cascadia College MediaPro, Inc. Quosal LLC University of Washington Bothell Brooks Sports Corp Office Sonic Concepts Inc Precor Incorporated HUB International IUOE Efeste Page 5

10 EASIDE EMOYERS North Creek Development Opportunity Lake Sammamish Bellevue Kirkland Redmond Lake Wa s h i n g t o n Seattle Woodinville North Creek Property Bothell Page 6

11 AMENITIES North Creek Development Opportunity NORTH CREEK PROPERTY Russell s T.J. Maxx Wendy s University of Washington Preservation Kitchen Lori s Deli Target Molbacks Garden + Home Red Lion Inn Main Street Ale House Subway Qdoba Mexican Grill Taco del Mar United States Postal Office McMenamins Tavern Food Trucks at Parklands Mongolian Grill Ezell s Famous Chicken YMCA Ranch Drive-In Starbucks Dairy Queen Woodinville Cafe Group Health Pen Thai 24 Hour Fitness Red Robin Potbelly Home Depot Alexa s Cafe Chans Place Mi Terra Beardslee Public House Woodinville Montessori Page 7

12 WIRIES & BREWERIES North Creek Development Opportunity 23B 24 23A NORTH CREEK PROPERTY Celaeno Winery Patterson Cellers Kestrel Vintners J-NH Wine Group LLC Castillo de Feliciana Winery Triplehorn Brewing Co. Novelty Hill Januik Winery Darby Winery Pacific Distillery LLC Columbia Winery Fish Brewing Martedi Winery Woodinville Whiskey Co. Pepper Bridge/Amavi Cellars The Woodhouse Wine Estates JM Cellars Guardian Cellers Sumerian Brewing company Chateau Ste Michelle Winery Brian Carter Cellers Page 8

13 PROPERTY PHOTOS Page 9

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16 SW 203 SW W 199 SW 190 AVE S T AVE AVE 15 AVE PI CT SUMAC CT AVE 40 AVE 40 LN 19 DR AVE 23 DR AVE DR 27 DR 182 CT THDR 14 6 Pri vate Road Rd 33 DR 39 AVE 35 AVE 36 AVE AVE LN Rd DR 124 AVE 41 AVE 41 DR AVE S E 45 AVE E DR 49 AVE 196 S T AVE 134 AVE Q:\Apps\GIS\Map_Products\Display\(05) Aerial - March 2015.mxd 14 LOCU WAY AVE W 211 SW AVE W LOCKWOOD RD JUANITA DR SW 2 15 SW 225 SW 13 W 13 W 231 SW CARTER RD AVE 13TH AVE W JUANITA DR 232 SW 235 SW AVE JUANITA DR 13 AVE W W W AVEW t SW 69 AVE N E 214 SW 228 SW th S AVE 1 7 W 10 8 W LAWTON RD 235 LAKE DRIVEE INGLEWOOD RD LOGAN RD 240 SW 67 AVE 68 AVE AVE 12 AVE W 11 AVE W LAKEDRIVE W W S T AVE W 207 SW 210 SW W 236 SW 243 SW 73 AVE 71 AVE AVE 72 AVE CRAWFORD RD SW 9 AVE W 8 S W W W W DAMSON RD AVE W 143 SW DAMSON RD SW 203 SW 6 AVEW SW Private SW 218 SW AVE AVE W 222 SW Rd 5 AVE W 7 W 7 7 AVE W 7 AVE W 6 W W 4 W 74 AVE 145 HUBBARD RD 8 W 7 W 73 AVE DAMSON RD AVE 221 SW 76 AVE 78 AVE AVE 4 AVE W AVE 2 AVE W 240 SW 195 BOTHELL WAY (SR ) 75 AVE W 203 S T AVE AVE SW AVE W AV E 80 AVE 2 AVE W 225 SW SW 206 SW AVE W SW SW 223 SW 1 AVE W 81 AVE 80 AVE 80 AVE AVE W Kenmore 200 SW 205 SW 4 W 76 N E 78 AVE 3 W 3 W SW 234 SW AVE 3 AVE W 224 SW 233 SW SW 1 W Bothell City Limits : ,500 2,250 Feet The City of Bothell delivers this data (map) in an AS-IS condition. GIS data (maps) are produced by the City of Bothell for internal purposes. No representation or guarantee is made concerning the accuracy, currency, orcompleteness of the information provided. Prepared by: GIS Services August 2016 Aerial Photo: March, AVE W 3 W S DANVERS RD S DANVERS RD 3 AVE W 2 W 81 LOGAN RD 2 W 79 N E 203 SW 1 W N E W 1 AVE W 1 W AVEW 222 S W 1 AVEW MERIDIAN AVE S MERIDIAN AVE S AVE 84 AVE BARTLETT RD AVE 203 N E 150 W RICHMOND RD DR AVE 84 AVE AVE 83 AVE AVE S T AVE 84 AVE 2 AVE AVE 2 DR 3 AVE 84 SIMONDS RD 144 SR 524 (FILBERT RD) 2AVE 2 AVE 3 AVE DR DR 85 AVE AVE DR AVE 86 3 A VE 3 DR FILBERT RD 4 AVE 4 AVE 221 (SR 524) DR 4 AVE 86 AVE AVE AVE AVE ROYAL 4 DR AN RD AVE HARVE RD 7 AVE 7 AVE 4 AVE 7 AVE 144 CT AVE 86 FILBERT 5 DR 6 DR 88 AVE BOTHELL AREA MAP DR S E 8 DR 237 S E 89 AVE AVE 192 AVE GRIMES RD DR AVE DR S E 191 I AVE 147 S T 145 GREENIN G 91 AVE 9 AVE 9 AVE RD AVE AVE BOTHELL-EVERETT HWY BOTHELL-EVERETT HWY 92 AV E AVE DR 10 DR DR VALHALLA WAY 202 PrivateRd AVE L LA DR VALH A 13 DR 13 DR ¾À ¾À AVE ¾À Rd Privat e BOTHELL-EVERETT HWY (SR 527) MAE DR FIR CT THORSK HOEDER LA 93AVE 146 CIR 94 AVE 175 BOTHELL WAY (SR ) AVE 11 D R 93 BLVD ODIN WAY D R AVE 94 AVE DR 14 DR 95 AV E N E AVE 13 DR 95 HA LL RD AVE 97 CT 14 DR 15 AVE 97 AVE WAYNITA WAY AVE AVE CT 98 AVE Kirkland DR P Private R d ASH CT BOTHELL WAY IR C 17 AVE 17AVE AVE LN AVE rivat e Rd REDWOOD CT HEMLOCKCT 19 AVE LARCH CT ¾À AVE AVE NO R TH CREEK BOTHELL WAY (SR ) REGIONAL S T TRAIL W RIVERSIDE DR AVE 100 AVE 20 AVE 19 DR 237 S E 204 MAIN AVE DR AVE 234 S E 104 AVE 22 DR 103 AVE 104 AVE 23 DR S E 190 VALLEY VIEW RD AVE S T 107 AVE N E 164 LN 108 AVE AVE 28 AVE ¾À 524 N E S E 197 ¾À CAMPUS WAY AVE 30 DR 112 AVE 32 AVE TH 36 DR 195 DR (SR ) WOODINVILLE SR 20 AVE 20 AVE AVE AVE I AVE S E AV E AV E 103 AVE N E AVE 103 AVE 104 AVE 104 AVE 104 AVE 200 SAMMAMISH EASON AVE 105 AVE 23 DR DR AVE AVE 26 AVE S E AVE 23 DR AVE AVE ROSS RIVER TRAIL 154 AVE 25DR AVE SUNRI DR 107 AVE 108 AVE 26 AVE 25 AVE 25 DR 2 5 DR DR 108 AVE 108 RD 108 AVE 26 DR 108 AVE 108 AVE CI RCLE 27 AVE 109 CT SR 2 8 DR I- N E AVE 30 DR 29 DR DR AVE FITZGERALD RD BEARDSLEE BLVD RIVERSI DE AVE AVE 111 AVE 143 S T 30 AVE JUANITA-WOODINVILLE WAY AVE N E 29 AVE 111 AVE AVE 29 AVE 30 CT 112 TH CAMPUS WAY Rd 113 AVE Privat e AVE E RIVERSIDE DR 112 AVE 29 AVE AVE 113 AVE 30 DR 31 AVE 31 AVE NORTHCREEK REGIONAL TRAIL 112 LN Private 31 DR 31 DR 31 DR Ro ad AVE 32 DR 33 DR 33 DR 220 rivate P I Private 34 DR Rd 117 AVE 34 DR I- 35 DR NORTH CREEK PKWY 116 AVE 35 AVE 35 DR AVE AVE 3 6 MONTE DR 199 YORK RD 37 AVE S E DR 38 AVE N JEWEL RD VILLA 120 AVE D R PKWY NORTH CREEK PKWY N NORTH CREEK WOODC RE JUANITA-WOODINVILLE WAY AVE 37 AVE 220 PKWY 118 AVE AVE AV E 39 AVE E 143P 39 DR L 40 AVE AVE AVE 221 ¾À AVE AVE NORTH CREEK PKWY S AVE DR 120 AVE 38 DR 121 AVE 39 AVE 39 DR 224 Private Road AVE 40DR 204 P Private AVE S E L 40 DR 41 DR 238 Priv AVE AVE 240 at e Rd 42AVE AVE 42 DR DR 228 ivate Road Pr AVE 42 AVE HOLLYHILLS DR DR AVE 44 DR DR WOODINVILLE DR AVE 125 AVE 126 AVE S T AVE 45 AVE 46 AVE AVE AVE SR 200 MALTBY RD (SR 524) 129 AVE 128 AVE 47 AVE SR WAY 48 DR 47 DR 49 DR 43 DR 49 AVE 43 DR 125 AVE 126 AVE 126AVE 7AVEN AVE 127 AVE HOLLYHILLS DR Priva 126 AVE te Rd 128 P L 47 AVE 23 7P AVE 185 CT AVE DR WOODINVILLE-REDMOND RD AV E 1 30 L 130 AVE AVE Woodinville DR 132 AVE 51 AVE SR AVE AVE L P 52 AVE AVE 133 AVE Page 12

17 DISCLAIMER Materials contained in this offering are furnished solely for the purpose of considering the purchase of the Property located in Bothell, Washington; described herein and are not to be used for any other purpose or to be made available to any other person without the express written consent of CenturyPacific and the Seller. The material is based, in part, upon information supplied by Seller and, in part, upon information obtained by CenturyPacific from sources deemed reliable. Summaries contained herein of any legal documents are not intended to be comprehensive statements of the terms of such documents, but rather are outlines of some of the principal provisions contained therein. No warranty or representation, expressed or implied, is made by Seller, CenturyPacific or any of their related entities as to the accuracy or completeness of the information contained herein. Prospective investors should make their own investigations, projections and conclusions. Interested buyers should be aware that the Seller is selling the Property in AS IS CONDITION WITH ALL FAULTS, WITHOUT REPRENTATIONS OR WARRANTIES OF ANY KIND OR NATURE. It is expected that prospective investors will conduct their own independent due diligence concerning the Property, including such engineering and environmental inspections as they deem necessary to determine the condition of the Property and the existence or absence of any potentially hazardous materials used on the Property. No representations, expressed or implied, are made as to the foregoing matters by Seller, CenturyPacific or any of their officers, employees, affiliates and/or agent. CenturyPacific, LLLP Page 13