Security & White Building, Olympia, WA

Rare Puget Sound Portfolio Opportunity Consisting of Two Historic, Mixed-Use Buildings

Unbeatable Location in the Heart of the State Capitol

Multiple Tax Incentives Emanating From Downtown Olympia Historic District and Opportunity Zone

Executive Suites Mark-to-Market Opportunity With Below
Market Rents And Short-Term Leases

The Vara Group is pleased to present the opportunity
to acquire the fee simple interest in the Security &
White Buildings, two historic office-retail buildings
in the heart of downtown Olympia, the capitol of
Washington state (“the Offering”). Mostly consisting
of small office and mid-sized storefront retail suites,
the Offering boasts a combined occupancy rate of
93.2%. The structures were built from 1908 and 1926,
and both reside in the Downtown Olympia Historic
District, which brings building code lenience and
tax benefits. The Offering also resides in a Qualified
Opportunity Zone, which adds further tax incentives
for investors seeking to defer capital gains.

The Security Building located at 203 4th Ave E was built
in 1926 and features five stories with concrete frame
and poured concrete floors. Originally constructed in
the Sullivanesque style of brick masonry with ornate
terra cotta cladding, it features an ornate lobby and
elevator service that leads to four upper-levels of
office space above street level retail. The property
features on-site management that handles leasing
and daily operations. It is considered Olympia’s first
“skyscraper” and was the tallest building in the city for
many years. Its rich history and proximity to the capitol
and nearby amenities creates a powerful ecosystem
for small-sized professional service-oriented tenants.
Next door at 209 4th Ave E, the White Building is a twostory
wood frame structure built in a Mission revival
style in 1908. Originally constructed as a hotel, it was
later converted to its office/retail use and houses a
similar tenant roster as next door.