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NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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Attributes

Year Built 1989
Building Area
Land Area ()

Property Description

Jones Lang LaSalle Americas, Inc. ("JLL"), as exclusive representative for Owner, is pleased to present this opportunity to purchase Madison Place (the "Property"), a 107,713 BRSF Class A office building in Alexandria, Virginia. The Property is located in the heart of the Old Town submarket, an amenity-rich, live-work-play environment featuring walkable Metro access via the nearby Braddock Road Metrorail Station (Blue & Yellow Lines). Recently repositioned with a new lobby, common areas and restrooms, the Property is 89% leased with 4.6 years of weighted average remaining lease term. With 18 tenants and an average tenant size of approximately 5,000 RSF, the Property’s diverse rent roll offers stability of cash flow in a submarket that is known for its robust trade association tenant base and high historical submarket occupancy. Longer term, the proximity of Amazon’s HQ2 (two Metro stops north) will result in increasing vibrancy of the Old Town neighborhood, as well as upward pressure on land values, while alternative highest & best uses ensure no new competitive office supply going forward.



Accordingly, this investment offering represents a unique opportunity to acquire a stabilized, institutional quality, Class A office building located at the epicenter of the renowned Old Town Alexandria submarket.

Investment Highlights

  • Recently Repositioned 107,713 BRSF Class A Asset; 89% Leased to 18 Tenants with 4.6 Years of WALT
  • Outstanding Old Town Alexandria, Live-Work-Play Environment
  • An Abundance of Walkable Amenities – Anchored by a 50,000 SF Harris Teeter One Block Away – are Located within Blocks of the Property
  • Metro Access via the Braddock Road Metrorail Station (Blue & Yellow Lines) is Walkable in 10 Minutes or Less
  • Recent Renovation Repositioned Lobby, Common Areas and Restrooms to Meet Contemporary Demands of Class A Alexandria Tenancy
  • Historically Well-Performing & Stable Submarket Anchored by Alexandria’s Renowned Trade Association Tenant Base
  • Robust Growth from Amazon’s HQ2 (2 Metro Stops Away) Will Increase Vibrancy of Location and Drive Underlying Land Values
  • Free and Clear of Existing Debt
Last Updated Date: 11 Jun 2021
Matt Nicholson
Matt Nicholson
Managing Director
License details
DC-SP98369865 MD-641934 VA-0225191878
David Baker
David Baker
Director, Capital Markets
License details
DC-SP98379962 MD-645831 VA-0225228839

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Last Updated Date: 11 Jun 2021

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