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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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Key Facts

Year Built 1976
Building Area

Property Description

Jones Lang LaSalle Americas, Inc. ("JLL") as exclusive representative for the Owner, is pleased to present this offering for the leasehold interest in 2550 M Street NW (the "Property"), a 207,081 RSF Class A office building that is 100% leased to renowned law firm Squire Patton Boggs. With no termination or contraction options, a triple-net lease structure, and annual rent escalations, the Property offers attractive year 1 double-digit cash yields as well as durable and appreciating cash flow through Squire Patton Boggs' lease expiration in April 2032.



Ranked by AmLaw as the 37th largest law firm in the country, Squire Patton Boggs boasts more than $1 billion in annual revenue. Centered in its DC office, the firm's Government Policy practice is its largest and most prominent practice group. Squire Patton Boggs and its predecessors have called 2550 M home for over four decades. The asset occupies timeless real estate in Washington, DC, sitting on the western edge of the city, on a park, with sweeping views of Georgetown and Northern Virginia, and excellent multi-modal accessibility to popular residential neighborhoods as well as the US Capitol.



Accordingly, 2550 M Street NW is a rare and coveted opportunity offering investors attractive year-1 cash yields, as well as durable and appreciating cash flow from a preeminent global law firm.

Investment Highlights

  • 100% Leased to Squire Patton Boggs through April 2032 → No Termination or Contraction Options
  • Rich Year 1 Double-Digit Cash Yields 
  • Durable and Appreciating Cash Flow → Triple Net Lease with 2.8% Rent CAGR Through Expiration
  • Squire Patton Boggs is #37 on the AmLaw 100 with $1 Billion in Annual Revenue 
  • 2550 M is Squire Patton Boggs’ Largest Office and Houses its Most Prominent Practice Group
  • Ideal Law Firm Building Offering Firms the Opportunity to Control/Brand 100% of Their Real Estate  
  • Top Global Law Firms are Recession Resilient and Have Outperformed Their Fortune 100 Counterparts in Past Downturns
  • Forever Location Featuring Panoramic Views of Georgetown, the Potomac River, and Northern Virginia
  • Attractive upside upon lease expiration via building growth under updated BOMA standards Additional growth potential by expansion of rooftop terrace/installation of habitable penthouse
Last Updated Date: 21 Apr 2021
Andrew Weir
Andrew Weir
Senior Managing Director, Washington, D.C. Office Co-Head
License details
DC-SP98366246 MD-616262 VA-0225099542
David Baker
David Baker
Director, Capital Markets
License details
DC-SP98379962 MD-645831 VA-0225228839

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Last Updated Date: 21 Apr 2021

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