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HomeMy WebLinkAboutCOW 2025-06-09 Item 5B - Resolution - Fire Station 51 Surplus & Alternative Sale ProcessCOUNCIL AGENDA SYNOPSIS Initials Meeting Date Prepared by Mayor's review Council review 6/9/25 BJM ITEM INFORMATION ITEM NO. 5.B. STAFF SPONSOR: BRANDON MILES ORIGINAL AGENDA DATE: 6/9/25 AGENDA ITEM TITLE Resolution: Disposition of Fire Station 51 — Declaring surplus, allowing for an alternative process, and authorize an agreement with a broker. CATEGORY ® Discussion Mtn Date 6/9/25 ® Motion Mtg Date 6/16/25 Z Resolution Mtg Date 6/16/25 ❑ Ordinance Mtg Date ❑ Bid Award Mtg Date ❑ Public Hearing Mtg Date ❑ Other AItg Date SPONSOR ❑ Council ® Mayor ❑ Admin Svcs ❑ DCD ❑ Finance ❑ Fire ❑ P&R ❑ Police ❑ Ply SPONSOR'S SUMMARY The purpose of this agenda item is to seek Council approval of the process to sell old Fire Station 51 at 444 Andover Park East. Once the Council approves the process, staff would solicit proposal and negotiate deals terms. If staff and the buyer(s) agree to deal terms, staff would then return to the City Council requesting authorization to enter into a purchase and sale agreement. REVIEWED BY ❑ Trans&Infrastructure Svcs ❑ Community Svcs/Safety ❑ Finance & Governance ❑ Planning & Community Dev. ❑ LTAC DATE: N/A ❑ Arts Comm. ❑ Parks Comm. ❑ Planning Comm. COMMITTEE CHAIR: N/A RECOMMENDATIONS: SPONSOR/ADMIN. Approve. COMMITTEE N/A COST IMPACT / FUND SOURCE EXPENDITURE REQUIRED $N/A AMOUNT BUDGETED $N/A APPROPRIATION REQUIRED $N/A Fund Source: N/A Comments: N/A MTG. DATE RECORD OF COUNCIL ACTION 6/9/25 MTG. DATE ATTACHMENTS 6/9/25 Staff Informational Memoradum dated May 13, 2025 Draft Resolution Powerpoint Presentation Broker Listing Agreement 6/16/25 33 City of Tukwila Thomas McLeod, Mayor INFORMATIONAL MEMORANDUM TO: Tukwila City Council FROM: Brandon Miles, Mayor's Office CC: Thomas McLeod DATE: May 13, 2025 SUBJECT: Disposition of Old Fire Station 51 ISSUE The purpose of this agenda item is to seek Council approval of the process to sell old Fire Station 51 at 444 Andover Park East. Once the Council approves the process, staff will solicit proposasl and negotiate deals terms. If staff and the buyer(s) agree to deal terms, staff would then return to the City Council requesting authorization to enter into a purchase and sale agreement. BACKGROUND The City owns an 81,000 square foot lot in the Southcenter District of the City that currently has a largely vacant 15,519 square foot building on it. The property was the former home of Fire Station 51 and also served as the headquarters for the City's fire department. As part of the City's Public Safety Plan, the city relocated and constructed a new Fire Station 51 at the corner of Southcenter Parkway and 5.180'h Street. It has been the city's intention to sell old Fire Station 51 since the City has no short term or long-term needs for the property. After the fire department moved off the site, the city temporarily relocated police evidence vehicle storage into some of the bays at old Fire Station 51. The city is currently working on a final, permanent relocation of the police evidence vehicle storage to a portion of the hanger at the Fleet and Facilities Building. The old Fire Station 51 building has significant issues, including a partial collapse of the roof, stolen HVAC units, and other issues. The building creates financial liability for the City to both maintain and in diverting facilities staff away from other facilities that need attention. As part of the adopted two-year budget, the city included $5 million in proceeds from the sale of the old fire station in 2026 as revenue to balance the city's operating budget. This one-time revenue was intended to serve as a stop gap measure while the city examined fiscal sustainability issues city wide. DISCUSSION The method for selling city owned property is outlined in Tukwila Municipal Code (TMC) 2.64. While the City could call for bids, staff proposes that a more competitive process be used and that City Council authorize, "...an alternative process for receiving offers, selecting a buyer, and negotiating the price..." pursuant to TMC 2.64.030 (4). Staff suggests that a broker be hired to market and represent the city on a potential disposition of the property, like it was any commercial property listed for sale or lease. Formally listing the property for sale and marketing it will likely result in the highest return to the City and make the property disposition known to a wider audience. The site is zoned for light industrial and the industrial market in the area is still extremely hot. The City has received two broker's estimates 34 INFORMATIONAL MEMO Page 2 for the property and would list the property for sale for around $4.2 million'. The City will also consider an entity that is interested in entering into a long-term ground lease of the property (30- 50 years). Staff propose the following general terms for any deal: 1. Highest financial value to the City. The City would consider the total financial value of the property, including the intended user, and what tax revenue the City would receive from the property over a specific period. The timing of receiving funds would be considered as part of the total financial value. While the City would prefer to receive the bulk of funds for the property in the near term, if the city received more funds by delaying closing this would be considered as well. 2. Closing. The City would consider a longer closing period, if it resulted in a better financial offer (see above). If a longer closing is requested, the city would want non- refundable deposits made to the city. If the buyer is unable to close, the non-refundable deposits would go to the city. 3. Past Performance by the Buyer. The buyer would need to have a demonstrated history of being able to close the deal with the city and meet the agreed closing date. 4. Appraisal. To be conducted by the city after an initial offer is accepted and a signed purchase and sale agreement is in place. 5. Zoning Standards. The city would consider possible zoning changes, provided those changes are consistent with the vision of the Workplace District zoning. Any zoning modifications would require City Council approval. The City would note this in our marketing materials. Staff is not requesting to enter into a purchase and sale agreement at this time. Once the city has received sufficient offers and has worked to validate the offers, the City will come back to the City Council with an update and a recommendation on a specific buyer. At that time staff will request to enter into a purchase and sale agreement with the proposed buyer. The proposed resolution will: 1. Declare the property surplus; 2. Authorize the sale and city to engage in an alternative process; 3. Outlines the City Council will review the purchase and sale terms; and 4. Authorizes the City to hire a broker (draft agreement is attached). FINANCIAL IMPACT As part of the 2025/2026 Budget the city assumed $5 million in revenue from the sale of the old Fire Station 51 to occur in 2026. The suggested list price of $4.2 million is below the forecasted revenue. However, this is the list price, and the final price could be higher or lower. RECOMMENDATION The City Council is being asked to forward the draft resolution to the June 16 regular council meeting for possible adoption. 1 The property has a total value of just under $4 million. However, the City's listing price assumes the cost of demolition that the buyer will factor in when making an offer on the property. 35 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF TUKWILA, WASHINGTON, DECLARING T PROPERTY LOCATED AT 444 ANDOVER PARK (ASSESSOR PARCEL NUMBER 022340-0080) TO RPLUS; AND APPROVING AN ALTERNATIVE ALE OCESS AS AUTHORIZED BY TUKWILA MU PAL CO - SECTION 2.64.030(4). WHEREAS, the City of Tukwila owns certaiperty located at 444 Andover Park East also known as assessor parcel nurr002234(8080 ("the Property"); and WHEREAS, the Mayor and the City C needed, and that the sale of the Prty is thereof; and Property is surplus and no longer e best interests of the City and the people WHEREAS, Tukwila Mu r'1 pter 2.64 provides for disposition of surplus property; NOW, THER- 'RE, -Y COUNCIL OF THE CITY OF TUKWILA, WASHINGTON, HE. 'BY RE LVES AS FOLLOWS: Section 1. Declara, ' j Surplus. The property, both real and personal, located at 444 Andover Park East - : also known as assessor parcel number 022340-0080 ("the Property"), belonging to the City of Tukwila, is hereby declared to be surplus. Section 2. Sale of Surplus Property Authorized. Pursuant to Tukwila Municipal Code (TMC) Section 2.64.030(4), the City Council hereby authorizes the Mayor and/or his designee to engage in the alternative process for receiving offers, negotiating the price of the Property, and negotiating additional deal terms as set forth in the Informational Memorandum attached hereto as Exhibit A. Section 3. Council to Review Purchase and Sale Agreement Terms. Prior to execution of a purchase and sale agreement, the mayor and/or his designee shall report to the City Council a recommended purchaser for the property and negotiated terms. 2025 Legislation: Declaring Property Surplus Version: 06/02/2025 Staff: B. Miles Page 1 of 2 36 Section 4. Broker. The Mayor and/or designee is authorized to hire a broker to list, market, and conduct other commercial real estate brokerage activities for the City of Tukwila. PASSED BY THE CITY COUNCIL OF THE CITY OF TUKWILA, WASHINGTON, at a Regular Meeting thereof this day of 2025. ATTEST/AUTHENTICATED: Andy Youn-Barnett, CMC, City Clerk Tosh Sharp, Council President APPROVED AS TO FORM BY: File• th th- ty Clerk: P ed by the • Council: sol «n Numb-r: Office of the City Attorney Attachment: Exhibit A, Informational Me 'ran► - -d May 13, 2025 2025 Legislation: Declaring Property Surplus Version: 06/02/2025 Staff: B. Miles Page 2 of 2 37 City of Tukwila Thomas McLeod, Mayor INFORMATIONAL MEMORANDUM TO: Tukwila City Council FROM: Brandon Miles, Mayor's Office CC: Thomas McLeod DATE: May 13, 2025 SUBJECT: Disposition of Old Fire Station 51 ISSUE The purpose of this agenda item is to seek Council approval of the process to sell old Fire Station 51 at 444 Andover Park East. Once the Council approve proposasl and negotiate deals terms. If staff and the buyer(s) then return to the City Council requesting authorization to e agreement. BACKGROUND The City owns an 81,000 square foot lot in the So nt 'strict of the City that currently has a largely vacant 15,519 square foot building on it. Th erty was the former home of Fire Station 51 and also served as the headqua or the 's fire department. As part of the City's Public Safety Plan, the city relocated . :. cte new Fire Station 51 at the corner of Southcenter Parkway and 5.180'h Street. I'' - - city's intention to sell old Fire Station 51 since the City has no she - or erm needs for the property. e process, staff will solicit e to deal terms, staff would a purchase and sale After the fire department move vehicle storage into some of th final, permanent relocatio the Fleet and Facilities The old Fire Station stolen HVAC units, and maintain and in diverting fa temporarily relocated police evidence tation 51. The city is currently working on a evidence vehicle storage to a portion of the hanger at ignificant issues, including a partial collapse of the roof, . The building creates financial liability for the City to both staff away from other facilities that need attention. As part of the adopted two-year budget, the city included $5 million in proceeds from the sale of the old fire station in 2026 as revenue to balance the city's operating budget. This one-time revenue was intended to serve as a stop gap measure while the city examined fiscal sustainability issues city wide. DISCUSSION The method for selling city owned property is outlined in Tukwila Municipal Code (TMC) 2.64. While the City could call for bids, staff proposes that a more competitive process be used and that City Council authorize, "...an alternative process for receiving offers, selecting a buyer, and negotiating the price..." pursuant to TMC 2.64.030 (4). Staff suggests that a broker be hired to market and represent the city on a potential disposition of the property, like it was any commercial property listed for sale or lease. Formally listing the property for sale and marketing it will likely result in the highest return to the City and make the property disposition known to a wider audience. The site is zoned for light industrial and the industrial market in the area is still extremely hot. The City has received two broker's estimates 38 INFORMATIONAL MEMO Page 2 for the property and would list the property for sale for around $4.2 million'. The City will also consider an entity that is interested in entering into a long-term ground lease of the property (30- 50 years). Staff propose the following general terms for any deal: 1. Highest financial value to the City. The City would consider the total financial value of the property, including the intended user, and what tax revenue the City would receive from the property over a specific period. The timing of receiving funds would be considered as part of the total financial value. While the City would prefer to receive the bulk of funds for the property in the near term, if the city received more funds by delaying closing this would be considered as well. 2. Closing. The City would consider a longer closing period, if it resulted in a better financial offer (see above). If a longer closing is requested the city would want non- refundable deposits made to the city. If the buyer is unao close, the non-refundable deposits would go to the city. 3. Past Performance by the Buyer. The buyer woul• -e. have a demonstrated history of being able to close the deal with the c nd mee - agreed closing date. 4. Appraisal. To be conducted by the city after itial offer is - -pted and a signed purchase and sale agreement is in place. 5. Zoning Standards. The city would consider zoning changes, provided those changes are consistent with the visio of the lace District zoning. Any zoning modifications would require City Co •.rova . e City would note this in our marketing materials. Staff is not requesting to enter into has received sufficient offers an the City Council with an updat request to enter into a purchase The proposed resolut 1. Declare the pro 2. Authorize the sale . • c' o engage in an alternative process; 3. Outlines the City Co will review the purchase and sale terms; and 4. Authorizes the City to hire a broker (draft agreement is attached). sale agreement at this time. Once the city lidate the offers, the City will come back to tion on a specific buyer. At that time staff will ent with the proposed buyer. FINANCIAL IMPACT As part of the 2025/2026 Budget the city assumed $5 million in revenue from the sale of the old Fire Station 51 to occur in 2026. The suggested list price of $4.2 million is below the forecasted revenue. However, this is the list price, and the final price could be higher or lower. RECOMMENDATION The City Council is being asked to forward the draft resolution to the June 16 regular council meeting for possible adoption. 1 The property has a total value of just under $4 million. However, the City's listing price assumes the cost of demolition that the buyer will factor in when making an offer on the property. 39 Fire Station 51 Disposition J U N E 9, 2025 Old Fire Station 51 Draft Resolution • Section 1, Declares the property surplus. • Section 2, Authorizes the sale and City to engage in an alterative process. • Section 3, Council to review purchase and sale terms. • Section 4, Authorizes the City to hire a broker. Disposition Process • Outlined in Tukwila Municipal Code 2.64 • Staff is suggesting an alternative process. ❑ Hire a broker to represent the city. ❑ Marketing the property aggressively. ❑ Review Offers ❑ Come back to City Council will suggested buyer. ❑ Not asking to enter into a purchase and sale agreement. Criteria to Use • Highest financial value to the City. • Closing duration. • Past Performance by the buyer. • Appraisal • Zoning Standards Next Steps • Place on June 9 Regular Council Meeting Puget Sound Properties COMMERCIAL PEAL ESTATE SEPMES YVORLOVVIDE NAI Puget Sound Properties 10900 NE 8th St., Suite 1500 Bellevue, WA 98004 Phone: 425-586-5600 Fax: 425-455-9138 © Commercial Brokers Association ALL RIGHTS RESERVED Form: XS Exclusive Sale Listing Agreement Rev. 6/2024 Page 1 of 5 EXCLUSIVE SALE LISTING AGREEMENT $CBA This Exclusive Sale Listing Agreement ("Agreement") is made by and between City of Tukwila ("Seller") and PUGET SOUND PROPERTIES COMMERCIAL REAL ESTATE SERVICES, L.L.C., a Washington limited liability company, dba NAI Puget Sound Properties ("Firm"). Seller grants to Firm the exclusive and irrevocable right to sell, and to receive deposits in connection with, Seller's commercial real estate legally described as set forth on attached Exhibit A and commonly described as 444 Andover Park E , Tukwila , WA 98188 , King County, (the "Property"). 1. TERM. This Agreement shall commence on May 15th , 20 25 and expire at 11:59 p.m. on December 31st , 20 25 (the "Term"). 2. PRICE AND TERMS. Seller agrees to list the Property at a price of $ 4,250,000.00 and shall consider offers that include usual and customary contingencies in addition to the following specific terms: Possession: Acceptable to Seller Other terms: Acceptable to Seller 3. DEFINITIONS. As used in this Agreement, (a) "CBA" shall mean the Commercial Brokers Association; and (b) "sell" shall mean sell, exchange, lease for over 5 years, enter into a contract to sell and/or enter into an option to purchase the Property. 4. AGENCY. a. Pamphlet. Seller acknowledges receipt of the pamphlet entitled "Real Estate Brokerage in Washington." b. Listing Broker. Seller authorizes Firm to appoint Alan Robertson and William Schmidt as Seller's "Listing Broker." This Agreement creates an agency relationship between Seller and Listing Broker and any of Firm's managing brokers, including Firm's Designated Broker, who supervise Listing Broker ("Supervising Broker") during the Term. No other brokers affiliated with Firm are agents of Seller. 5. LIMITED DUAL AGENCY. a. Listing Broker as Limited Dual Agent. If initialed below, Seller consents to Listing Broker and Supervising Broker acting as limited dual agents in the sale of the Property to a buyer that Listing Broker also represents. Seller acknowledges that, as a limited dual agent, RCW 18.86.060 prohibits Listing Broker from advocating terms favorable to Seller to the detriment of buyer and further limits Listing Broker's representation of Seller. Seller's Initials Date Seller's Initials Date b. Firm Limited Dual Agency. If the Property is sold to a buyer represented by one of Firm's brokers other than Listing Broker ("Buyer's Broker"), Seller consents to any Supervising Broker, who also supervises Buyer's Broker, acting as a limited dual agent. If any of Firm's brokers act as a limited dual agent, Firm shall be entitled to the compensation payable under this Agreement plus any compensation Firm may have negotiated with the buyer. 6. PROPERTY OWNERSHIP AND INFORMATION. Seller warrants that Seller has the right to sell the Property on the terms set forth in this Agreement and agrees to furnish and pay for a buyer's policy of title insurance showing Seller has marketable title to the Property. Seller also warrants that the Property information provided by Seller to Firm in connection with listing the Property (the "Property Information"), which is expressly incorporated into this Agreement, is correct. Seller understands that Firm and other members of CBA will make representations to prospective buyers based solely on the Property Information and Seller agrees to indemnify and hold Firm and other members of CBA harmless in the event the foregoing warranties are incorrect. Seller confirms that following closing, the amount of the purchase price and any other terms of the sale of the Property shall not be deemed confidential information and Seller authorizes disclosure of the same. 46 Puget Sound Properties COMMERCIAL PEAL ESTATE SEPMES YVORLOVVIDE NAI Puget Sound Properties 10900 NE 8th St., Suite 1500 Bellevue, WA 98004 Phone: 425-586-5600 Fax: 425-455-9138 © Commercial Brokers Association ALL RIGHTS RESERVED Form: XS Exclusive Sale Listing Agreement Rev. 6/2024 Page 2 of 5 EXCLUSIVE SALE LISTING AGREEMENT (CONTINUED) $CBA 7. CLOSING COSTS. In addition to purchasing a buyer's policy of title insurance, Seller agrees to pay one-half of any escrow fees. Rents, insurance, taxes, interest and reserves on assumed encumbrances are to be prorated between Seller and buyer as of the date of closing. 8. COMPENSATION. Seller acknowledges that there are no standard compensation rates and the compensation in this Agreement is fully negotiable and not set by law. Firm shall be entitled to compensation if: (a) Seller sells the Property during the Term; (b) Seller sells the Property within six months after the expiration or earlier termination of this Agreement to a person or entity, or to an Affiliate of such person or entity, that submitted an offer to purchase the Property during the term of this Agreement or that appears on any registration list provided by Firm pursuant to this Agreement; (c) the Property is made unmarketable by Seller's voluntary act; (d) the Seller receives compensation from a governmental entity pursuant to an exercise of eminent domain; or (e) Seller withdraws the Property from sale, or otherwise prevents Broker from selling it. Seller shall pay compensation consisting of the sum of the amounts set forth in Sections 8(a) and 8(b) as set forth below. Compensation shall be paid at closing. a. Listing Firm Compensation: i. 2.5 % of the sales price, or ; or ii. If the buyer is not represented by a buyer brokerage firm, the Listing Firm compensation shall be 5 % of the sales price or (equal to the amount in Section 8(a)(i) if not filled in). b. Buyer Brokerage Firm Compensation: i. 2.5 % of the sales price, or to a cooperating broker representing the buyer ("Buyer Brokerage Firm") ("Buyer Brokerage Firm Compensation"), including another broker affiliated with Firm who represents the buyer; or ii. If the Listing Broker represents both Seller and the buyer as a limited dual agent, 5 % of the sales price, or (equal to the amount in Section 8(b)(i) if not filled in). iii. Buyer Brokerage Firm Compensation shall be paid as set forth above unless otherwise agreed by the buyer and Buyer Brokerage Firm in the purchase and sale agreement. Buyer Brokerage Firm is an intended third -party beneficiary of this Agreement. Firm shall submit any registration list to Seller within 15 days after the expiration or earlier termination of this Agreement and shall only include on the registration list persons or entities to whose attention the Property was brought through the signs, advertising or other action of Firm, or who received information secured directly or indirectly from or through Firm during the term of this Agreement. Seller shall provide the registration list to any other brokers that assist Seller with this Property. "Affiliate" means, with respect to any person or entity that submitted an offer during the term of this Agreement or that appears on the registration list, any buyer which has more than a 10% ownership or voting interest in such an entity or any buyer in which more than 10% of the ownership or voting interests are owned or controlled by such a person or entity. Seller consents to Firm receiving compensation from more than one party and to sharing compensation between firms, provided that any terms and amounts offered to or by Firm are disclosed as required by RCW 18.86.030. Seller acknowledges that offering compensation to Buyer Brokerage Firm is not required. 9. FIRM/MULTIPLE LISTING. Firm shall cause this listing to be published by CBA for distribution to all CBA members through CBA's listing distribution systems. Firm shall use commercially reasonable efforts to 47 Puget Sound Properties COMMERCIAL PEAL ESTATE SEPMES YVORLOVVIDE NAI Puget Sound Properties 10900 NE 8th St., Suite 1500 Bellevue, WA 98004 Phone: 425-586-5600 Fax: 425-455-9138 © Commercial Brokers Association ALL RIGHTS RESERVED Form: XS Exclusive Sale Listing Agreement Rev. 6/2024 Page 3 of 5 EXCLUSIVE SALE LISTING AGREEMENT (CONTINUED) $CBA cooperate with all other members of CBA in working toward the sale of the Property. Seller understands and agrees that all Property Information becomes the property of CBA, is not confidential, and will be given to third parties, including prospective buyers, other cooperating members of CBA who do not represent Seller and, in some instances, may represent the buyer and other parties granted access to CBA's listing systems. It is understood that CBA is not a party to this Agreement, and its sole function is to furnish the descriptive information set forth in the listing to its members, without verification and without assuming any responsibility for such information or in respect to this Agreement. 10. DAMAGES IN THE EVENT OF BUYER'S BREACH. In the event Seller retains earnest money as liquidated damages on a buyer's breach, any costs advanced or committed by Firm on Seller's behalf shall be paid therefrom and the balance shall be ❑ retained by seller; ❑ divided equally between Seller and Firm (retained by Seller if not checked). 11. ATTORNEY'S FEES. In the event either party employs an attorney to enforce any terms of this Agreement and is successful, the other party agrees to pay reasonable attorney's fees and any costs and expenses incurred as a result of such enforcement. In the event of trial, venue shall be in the county in which the Property is located, and the amount of the attorney's fee shall be as fixed by the court. 12. ADDITIONAL TERMS. In addition to the Property Information and Exhibit A (legal description), the following amendments or addenda (which are also attached hereto) are part of this Agreement: This Agreement shall commence on May 15, 2025, and expire at 11:59 p.m. on December 31, 2025 (the "Initial Term"). Upon the expiration of the Initial Term, the Agreement shall automatically renew monthly (each a "Renewal Term") thereafter unless either party provides written termination notice to the other party at least thirty (30) days prior to the expiration of the Initial Term or any Renewal Term. The Agreement shall terminate on December 31, 2029, if it has not already been terminated pursuant to the foregoing termination provision. 48 Puget Sound Properties COMMERCIAL PEAL ESTATE SEPMES YVORLOVVIDE SELLER NAI Puget Sound Properties 10900 NE 8th St., Suite 1500 Bellevue, WA 98004 Phone: 425-586-5600 Fax: 425-455-9138 © Commercial Brokers Association ALL RIGHTS RESERVED Form: XS Exclusive Sale Listing Agreement Rev. 6/2024 Page 4 of 5 EXCLUSIVE SALE LISTING AGREEMENT (CONTINUED) Seller/Authorized Signature Name: Title: Date: FIRM $CBA Seller/Authorized Signature Name: Title: Date: PUGET SOUND PROPERTIES COMMERCIAL REAL ESTATE SERVICES, L.L.C., a Washington limited liability company, dba NAI Puget Sound Properties , Firm (Company) (Office) (Authorized Signature) Name: Robert Swain, Designated Broker Date: 49 NA'Puget Sound Properties COMMERCIAL PEAL ESTATE SEPMES YVORLOVVIDE NAI Puget Sound Properties 10900 NE 8th St., Suite 1500 Bellevue, WA 98004 Phone: 425-586-5600 Fax: 425-455-9138 © Commercial Brokers Association ALL RIGHTS RESERVED Form: XS Exclusive Sale Listing Agreement Rev. 6/2024 Page 5 of 5 EXCLUSIVE SALE LISTING AGREEMENT (CONTINUED) EXHIBIT A (Legal Description) ANDOVER INDUSTRIAL PARK # 5 LESS UP RR OPER R/W PLat Block: Plat Lot: 8 $CBA 50