Asking Price Contact for pricing
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 1988
Building Area

Property Description

Jones Lang LaSalle Americas, Inc. (“JLL”), as the exclusive representative for the Owner, is pleased to present this offering for 1901 Pennsylvania Avenue (the “Property”), a 104,944 BOMA RSF boutique office building situated on a coveted corner of Pennsylvania Avenue. Just two blocks from the White House, the Property is embedded amongst leading global institutions including the International Monetary Fund (IMF) and the World Bank. Rising 11 stories above the street corner, 1901 Pennsylvania Avenue is currently 79% occupied to 24 tenants that value its ± 8,745 SF floorplates and compelling price point along Washington, DC’s premier avenue.


With unparalleled accessibility, an abundance of walkable amenities, and revered global institutions, 1901 Pennsylvania Avenue presents in-place cash flow at an attractive basis. Investors are offered the rare opportunity to acquire a prime corner site with upside through the lease-up, further amenitization, and stabilization of the asset near-term.

Investment Highlights

·        104,944 BRSF Boutique, Corner, Side-Core Office Building Located Along Pennsylvania Avenue With 3 Sides Of Glass And Leed Gold Designation

·        79% Occupied With No Single Tenant Occupying More Than 9% Of The Rentable Area Two Blocks From The White House And Immediate Access To Four Metrorail Lines

·        Penn Ave Micromarket Outperformance - Sub-7% Vacancy For Existing Office Product

·        Limited Investment Opportunity – The Property Has Not Transacted In 45 Years

·        Compelling Basis At A Significant Discount To Replacement Cost

Last Updated Date: 06 Oct 2021
Matt Nicholson
Matt Nicholson
Managing Director
License details
DC-SP98369865 MD-641934 VA-0225191878
Jim Meisel
Jim Meisel
Senior Managing Director, Washington, D.C. Office Co-Head
License details
DC-SP100478 MD-521313 VA-0225049461

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Last Updated Date: 06 Oct 2021

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