|Call for Offers||2022-02-28|
Jones Lang LaSalle Americas, Inc. ("JLL"), as exclusive representative for Owner, is pleased to present this opportunity to purchase Ballston One (the “Property”), a 241,571 RSF Class A office building overlooking I-66 and directly adjacent to the amenity-rich Ballston core. The Property is 84% leased to 21 tenants with 3.0 years of WALT, offering investors a substantial value-add investment opportunity in a true “live-work-play,” amenity-rich Northern Virginia submarket.
Ballston’s ongoing transformation of both Wilson Boulevard and Glebe Road, as well as its robust multifamily development, has furthered its reputation as an ideal submarket to live and work. The submarket boasts approximately $1.4 billion of ongoing placemaking, including Ballston Quarter and Ballston Exchange. These two diverse and contemporary retail and entertainment hubs, coupled with an immense residential pipeline boasting nearly 2,000 new units, continue this submarket’s evolution into one of Washington, DC’s premier, 24/7 neighborhoods.
Capitalizing on continued defense and cybersecurity contract growth, in addition to a robust development pipeline, Ballston One represents a compelling value-add play at a significant discount to replacement cost. Investors will create immediate value through the further amenitization and lease-up of the asset, while leveraging the durability of its GSA-anchored, in-place cash flow over the majority of the hold period.
- 241,571 RSF Institutional-Quality Class A Office Building
- Ideal Value-Add Profile Priced at Significant Discount to Replacement Cost; 84% Leased to 21 Tenants with 3.0 Years of WALT
- Anchored by the Department of Homeland Security (32.2% of RBA); Recently Renewed Through September 2025 in Their Newly Renovated Space
- 60.2% of In-Place Tenants are Federal Agencies or Contract Directly with the US Federal Government
- Transit-Oriented Location with Metro Accessibility & Direct Access to Major Commuter Thoroughfares, Including I-66 & State Route 120
- Prominent Exterior Signage Opportunities Offer Tenants Fantastic Visibility from I-66
- Amenity-Rich, 24/7 Location – Less Than a Half Mile from Ballston Quarter and Ballston Exchange Placemaking Projects
- Government Contractors and Professional Services Have Accounted for Over Half of Leases Since Q2 2020
- Being Offered Free and Clear of Existing Debt