Street Address:          619 Ship Creek Avenue

Building Name:          The Bayview Building

Legal Description:     Alaska Railroad 7484 Parcel    A, B, C, B1, C1, D1, &A/D Lots 43A, 43/45

Zoning:                        PC (Planned Community District)

Sales Price:                $8,500,000.00

Site Description:        Two separate parcels of land and for the purpose of this sales package are identified as Parcel A and Parcel B. 

Parcel A consists of seven parcels containing a total area of 122,795 square feet.  The site is irregular in shape and fronts 490 feet along East Ship Creek Avenue and about 602 feet along Ship Creek.  The square footage of the seven parcels are as follows:

Lot A                           17,500

Lot B                           12,000

Lot C                           11,250

Lot D                           11,250

Parcel A                       16,500

Parcel B                       11,400

Parcel C                       42,895

                                  122,795

Parcel B is generally rectangular in shape with 430 feet of frontage along East Ship Creek Avenue and has a depth of 80 feet.  Parcel B is directly across Ship Creek Avenue from Parcel A and contains a total area of 34,400 square feet.

Parcel A and Parcel B combined have a total area of 157,195 square feet (approximately 3.6 acres).  The parcels are generally level with Ship Creek Avenue and have a slight downward slope to Ship Creek.

Site Improvements:   The site is asphalt paved for 300 parking spaces and has been professionally landscaped.  There is a picnic area along Ship Creek for tenants to use for lunch and rest breaks.  The site is in an excellent location in the Ship Creek and is conveniently close to Anchorage's Central Business District.

Bldg. Description:      The Bayview Building is a three story class "B" office building with current build outs for office and warehouse.  Phase I was completed in 1975 and consists of the ground floor and the second floor.  Phase II was completed in 1986 and consists of the third floor.  The building gross square footage is summarized as follows:

The Ground Floor:     The ground floor was originally designed for exhibition space and is currently utilized by Phillips Petroleum for offices, laboratories and records keeping.  These records are highly classified oil core samples and reports.

                                    The ground floor has a total gross building area of 38,229 square feet, of which 37,138 is net rentable area.  Approximately ½ of this space is air conditioned.  The ceilings have an average height of 26 feet which makes the space extremely flexible for conversion to offices.  The ground floor is improved with fire sprinklers, smoke alarms and has a motion security system.  Phillips (originally ARCO) has made a considerable investment for security and has 24-hour security guard service as well.

                                    Otis Elevator occupies a small 1,055 square foot area on the ground floor with its own separate entrance.

                                    There are a total of 13 dock high doors, 3 entrance doors in front and 1 in the rear.  The main entrance and lobby area houses the main elevator which has a capacity of 4,000 lbs.  The secondary elevator has a capacity of 2,000 lbs.  There are three staircases in the building.

The Second Floor:      Three tenants occupy the second floor (Phillips, State of AK Dept. of Education, and Tesoro).  This is high quality class "B" office space.

The Third Floor:         The third floor is occupied by Otis Elevator, Morris Communications, Anchorage Water Ways Council, Digital Computer Solutions, Grantstation.com, and Tesoro.  This is very high quality class "B" space.

Construction and

Components:              The foundation is reinforced concrete footings and concrete slabs raised four inches to meet insurance requirements for 500 year flood plain.

Structure:                   10" X 10" steel columns and beams.  Poured reinforced concrete floors and slabs.

Exterior Walls:           Thermally broken 2" insulated metal panels.

Roof:                           IRMA roof - 1½ steel decking, 1½ gypsum sheathing, single ply rubber roof membrane.  2" rigid insulation.  Skylights.  This is a super-adequate roof built to withstand Alaskan winters.

Windows:                    Thermo-pane windows in aluminum frames.

Heating:                      Natural gas hot water boiler serving floors two and three, forces air system, suspended gas fired heater units serving ground floor.

Interior Walls:            2 X 4 metal studs, 4" fiberglass insulation, 5/8" sheetrock.

Doors:                         Entrance doors are glass and aluminum storefront type with canvas canopies.  Interior office doors are oak face solid core as required by code.  Overhead doors are 8' X 8' and 10' X 10' wood doors.

Ceilings:                     Drop acoustic tile ceilings with recessed lighting throughout.

Decorations:               Walls and woodwork are painted and attractively coordinated with carpeting and accents.

Functional Utility:      The office space is quite functional, floor plans are laid out for maximum office, and the overall office efficiency ratio is 89.5% which is above average for the market place.