Jones Lang LaSalle Americas, Inc. (“JLL”), as exclusive representative for Owner, is pleased to present this opportunity to purchase the leasehold interest in the Jefferson Building (the “Property”), a freestanding 74,248 RSF (75,790 BOMA RSF) boutique office asset. Located in the heart of Washington, DC’s central business district (“CBD”) and home to historic DC restaurant The Palm, the Property boasts 93% occupancy to 10 tenants with 5.0 years of weighted average lease term (“WALT”).
The Property’s location – at the corner of 19th Street and Jefferson Place – is in the heart of the CBD’s Golden Triangle, downtown Washington, DC’s most vibrant and sought-after office location. In total, the Golden Triangle houses 187 restaurants, 11 hotels, 1,000+ multifamily units, and is in close proximity to the White House. Furthermore, the Jefferson Building is located directly on “Restaurant Row,” a renowned dining, shopping, and entertainment strip. Situated just one block south of Dupont Circle – one of the most affluent residential neighborhoods in the District – the Property has long attracted tenants whose principals and/or employees live in and around Dupont Circle. In addition, due to a favorable location from a commuting perspective, the Jefferson Building is in a prime location for lawyers and lobbyists who commute from the wealthy western and northwestern suburbs.
The Jefferson Building is a coveted investment opportunity, boasting entrenched tenancy and demonstrated market outperformance. Investors are poised to benefit long-term from the strong, diverse in-place cash flow and the enduring strength of the Class B market. With an average historical occupancy of 95%, the Jefferson Building has solidified the narrative of consistent demand from boutique tenants through all economic cycles.
- FREESTANDING BOUTIQUE OFFICE ASSET LOCATED IN THE HEART OF WASHINGTON, DC’S CBD
- 95% AVERAGE OCCUPANCY OVER THE PAST 12 YEARS DUE TO CONSTANT DEMAND FROM SMALL TENANTS
- TENANTS BOAST 20+ YEAR WEIGHTED AVERAGE PROPERTY TENURE
- DIVERSE, IN-PLACE CASH FLOW – AVERAGE TENANT ±7,000 SF
- ATTRACTIVE BUILDING CHARACTERISTICS INCLUDING COLUMN-FREE FLOOR PLATES AND ABOVE-MARKET PARKING RATIO
- PROMINENT LOCATION FRONTING “RESTAURANT ROW” IN THE HEART OF THE GOLDEN TRIANGLE – DC’S MOST AMENITY-RICH NEIGHBORHOOD
- IDEAL ACCESSIBILITY – WALKING DISTANCE TO 4 METRO STATIONS: DUPONT CIRCLE (RED), FARRAGUT NORTH (RED), FARRAGUT WEST (ORANGE, BLUE, SILVER) AND FOGGY BOTTOM (ORANGE, BLUE, SILVER)
- FREE & CLEAR OF EXISTING DEBT