31179 State Route 20

COMPETITIVE RENTAL RATE Leased at $17.28/SF, below the market range of $16–$40/SF for comparable retail space in Oak Harbor. EMPLOYMENT DRIVERS Surrounded by strong employment anchors including Naval Air Station Whidbey Island, WhidbeyHealth Medical Center, Technical Services Inc., and Compass Health — providing a consistent customer base and daytime traffic. PRIME RETAIL LOCATION WITH NATIONAL CO-TENANTS Positioned within Oak Harbor’s dominant neighborhood shopping center anchored by Walmart and Safeway, and adjacent to major national and regional retailers such as Starbucks, Grocery Outlet, Haggen, and Oak Harbor Cinema. EXCEPTIONAL VISIBILITY & ACCESS Prominent outparcel location along W. Pioneer Way / State Route 20, Oak Harbor’s primary commercial corridor, offering excellent signage and exposure to high daily traffic volumes. 

Term Remainnig: 4.5 years Lease Type NNN Rental Increases 8% every 5 years Renewal Options Remaining 4 five year options Year Built 2013 Net Rentable Area 7,980 SF Lot Size 37,897 SF Property Taxes & Insurance Tenant Roof & Structure Landlord HVAC Tenant pays maintenance contract Foundation & Walls Landlord Ownership Fee Simple Common Area Maintenance Tenant pays its share of CAM Right of First Refusal No 

High-visibility frontage on SR-20, the principal retail artery through Oak Harbor and Whidbey Island, with strong drive-by exposure and regional access. Proximity to Naval Air Station Whidbey Island (NASWI) — the largest employer in the region — providing a stable base of residents, contractors, and consumer demand. ~ 19,194 (military dependents + family members + veterans) Military OneSource Installations Growing retail spend in Island County — Consumer Spending is projected to reach $900 million in 2025, underscoring local retail strength. The Pets retail category spending is expected to grow 10.65% to $370,753 by 2030. Supportive local demographics Average household income (5-mile radius) ~$113,213. Young median age (≈ 34) with a good mix of families and working adults. Home values ~ $581,248 Average Home Value within 1-mile. Homeownership ~57%, Renter Occupied ~ 43% Retail leakage/opportunity — the County’s Retail Leakage & Surplus Analysis indicates unmet demand and opportunity for established retail tenants to capture more local spend. Island County EDC Investment Highlights Tourism & lifestyle draw — Whidbey Island is a visitor destination (parks, boating, scenic recreation) that adds incremental traffic and discretionary spend, especially in warmer months. Resilient retail type — pet care is a resilient retail vertical. Pet services and consumables (food, grooming, vet) tend to be more recession-resilient than many discretionary categories — Petco’s service offerings (grooming, vet, premium consumables) can stabilize sales even when foot traffic softens.