450 Hills St Richland, WA 99354

This is a fully occupied Class B office building located in Richland, Washington. The property is situated within the boundaries of the Tri-Cities Research District, a 1,700-acre mixed-use area comprising approximately 3.4 million square feet of office, laboratory, and light manufacturing space. The location is home to national firms as well as state and federal government agencies that primarily service the energy industry. The property benefits from a strong anchor tenant, Bechtel Inc., which signed a new 5-year term in January 2017. Bechtel has had a 20+ year stabilizing affect in Richland as the country’s largest construction and engineering company. The federal government has committed to spending at least an additional $1.9 billion on the management and cleanup of nuclear waste including the 586 square mile Hanford Site whose ongoing work is projected through 2040. The current ownership holds fee simple interest in the land and building. The building contains 62,375 square feet. The property is being offered free and clear of debt, allowing investors the opportunity to take advantage of today’s low interest rates. The price per square-foot is well below replacement cost. Richland is one of the Tri-Cities, whose population exceeds 50,000.