The Stadium Building

The_Stadium_Building1
The_Stadium_Building2 The_Stadium_Building3

Purchase Date: January 2008 Price: $1,520,000
Cash on Cash Return: 8.50% Project 5 Year IRR: 20.00% +
Current Market Value: $2,100,000 (appraised)
Note: CEP purchase the stadium building when its principals purchased an interest in the Everett Aquasox, a minor league affiliate of the Seattle Mariners. The 7,000 SF building service as the front office and retail space for the baseball team. It is located adjacent to center field of Everett Memorial Stadium, home field for the Aquasox. The project provides the Aquasox a great home and provides investor with stable cash flow. In addition, the site is well positioned for redevelopment to a mixed use project (residential over retail) that provide a luxury box amenity to its residents and tenants.