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

I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. Approval for Deal Room access requires review by our Broker Team. You will be notified by email once your access is granted. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.
I accept the confidentiality agreement I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Year Built 2000
Building Area
Occupancy 92.0 %

Property Description

207,345 rentable square foot Class A office building located at 12950 Worldgate Drive in Herndon, Virginia. Built in 2000, the Property is currently 92% leased to 17 tenants with a weighted average remaining lease term of 6.1 years. With 22.5% of RBA leased to Forcepoint (a Raytheon Company) through August 2032, the Property offers longterm contractual cash flow backed by credit tenancy (Moody’s A3), while simultaneously providing investors a value creation opportunity to capitalize on Northern Virginia’s robust leasing velocity

Investment Highlights

Jones Lang LaSalle Americas, Inc. (“JLL”), as exclusive representative for Owner, is pleased to present this opportunity to purchase Monument II (the “Property”), a 207,345 rentable square foot Class A office building located at 12950 Worldgate Drive in Herndon, Virginia. Built in 2000, the Property is currently 92% leased to 17 tenants with a weighted average remaining lease term of 6.1 years. With 22.5% of RBA leased to Forcepoint (a Raytheon Company) through August 2032, the Property offers long term contractual cash flow backed by credit tenancy (Moody’s A3), while simultaneously providing investors a value creation opportunity to capitalize on Northern Virginia’s robust leasing velocity. Post Pandemic, Northern Virginia was the country’s most active leasing market with 1.6 MM SF of positive gross absorption, approximately 800,000 SF of which was attributable to the Reston-Herndon submarket. Since 2018, Northern Virginia has seen over 5.3 MM SF of net absorption, contributing to the market’s recent transformation. Google, Microsoft, ICF, Neustar, Facebook, Leidos, KPMG, Walmart Labs, Dynamics, CACI, and Northrop Grumman are among the tenants that have recently signed or commenced leases in Northern Virginia.
Last Updated Date: 24 Sep 2020
Stephen Conley
Stephen Conley
Executive Managing Director, Washington, D.C. Office Co-Head
License details
DC-PB98368150 MD-47647 VA-0225123295
Matt Nicholson
Matt Nicholson
Managing Director, Capital Markets
License details
DC-SP98369865 MD-641934 VA-0225191878

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Last Updated Date: 24 Sep 2020

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