Disposition Procedure

Overview

The City of Bothell (City) is selling its property commonly referred to as Lot A, located in Downtown Bothell at 17816 Bothell Way NE. The property consists of approximately 38,758 square feet and is identified as King County Assessor’s APN 072605-9096. A 7,535 square foot, wood frame building, is located at the southern end of the property. The property has been cleared and is ready for new development. The property is zoned “SR 522 Corridor” permitting a broad range of uses; retail, services, civic, cultural, office, lodging, and residential.

Conditions of Sale

The property is subject to the regulatory requirements imposed by the City of Bothell Zoning Code.

Property Listing Website

All information about the property and the offering is available at www.cityofbothellproperties.com. Prospective buyers are strongly encouraged to register their interest on the website. Announcements and updates will be posted on the website and it is the prospective buyer’s responsibility to monitor the website for changes.

Communications

Kidder Mathews is the City’s exclusive agent for the disposition of the property and all communications shall be directed to Ross Klinger - (425) 450-1146, ross.klinger@kidder.com or Blair Howe, (206) 205-0224, blair.howe@kidder.com. It is the sole responsibility of the sender to confirm communications have been received by the intended recipient. Alternatively, communications can be delivered in writing to:

Lot A Property Disposition
Kidder Mathews
C/o Blair Howe
600 Union Street, Suite 4720
Seattle, WA 98101

No inquiries shall be made directly to the City of Bothell.

Press Inquiries

Press inquiries can be made to Barbara Ramey, Communications Officer, City of Bothell, at (425) 806-6144.

Offering

The property, owned by the City, is offered for sale. The following describes the offering process, requirements for submitting offers, and the process by which the successful purchaser will be selected.

Offering Launch

The property offering announcement date is Monday, April 15, 2019.

Offering Requirements

The buyer’s offering form may be either a Letter of Intent or Purchased and Sale Agreement.

Listing Price

The Property is being offered for sale, on a competitive basis, for $1,200,000.

Submitting Offers

Offers can be submitted in two ways:

By email to Kidder Mathews at rklinger@kiddemathews.com or blair.howe@kidder.com. Please confirm receipt by telephone.

By US Mail or hand delivered to the following address in a sealed envelope to:
Lot A Property Disposition
Kidder Mathews
C/o Blair Howe
600 Union Street, Suite 4720
Seattle, WA 98101

A delivery receipt will be provided on request.

Submitting Offers

All offers must be submitted before 5:00 p.m. on Friday, May 31, 2019.

Buyer Broker Representation

Buyers may elect to have a licensed State of Washington real estate broker or agent act as Buyer’s Agent. Buyers must register Buyer’s Agent by entering the appropriate information in its Letter of Intent or Purchase and Sale Agreement. The City will pay a Seller’s agent fee equal to 1% of the gross sale proceeds.

Evaluation of Offers

Offers will be evaluated based on Sale Price. The City reserves the right to reject any offer, withdraw the property from the market, or reissue the solicitation for any reason and in its sole discretion. Offers will remain confidential until a purchase and sale agreement has been fully executed.

Call for Final Offers

The City may ask for final offers, or clarifications to offers, in which case those parties the City has selected, in it’s sole discretion, will have the opportunity to modify their original offer. Buyers will be notified by email if the City determines that final offers or clarifications are required.

The City may also re-open the offer period if it determines, in its sole discretion, that doing so is likely to lead to the receipt of a better outcome.

Withdrawal of Offers

Unless otherwise stated in Buyer’s offer, Buyers may not withdraw offers for 90 days. During this time period the City shall have the right to accept or reject any offer received.

Acceptance of Final Offers

The City will acknowledge its acceptance by delivering the fully executed Purchase and Sale Agreement to the buyer.