Washington, DC, US, Americas

Cathedral Commons

Descripción

Jones Lang LaSalle, as exclusive advisor, is pleased to present the opportunity to acquire Cathedral Commons (the “Property”), Washington DC’s premier mixed-use asset. Delivered in 2015, the Property features 124,308 square feet of retail and 145 Class-A multifamily units. Anchored by Giant Food (the DMV’s most popular grocer by market share) and CVS Pharmacy, the retail at Cathedral Commons is well poised to serve the affluent surrounding population. With 12.3 years of WALT and 92% leased, the retail at Cathedral Commons is an opportunity to acquire a premier DC asset with potential cash flow growth opportunities through the lease up of some recent vacancies. The multifamily offers large average unit sizes (974 SF), luxury finishes, and an unparalleled amenity package while catering to the area-leading demographics of Northwest DC. The multifamily continues to outperform with 97% occupancy and 3.07% lease trade-outs YTD with 3.7% average annual rent growth projected in 2025.

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Atributos

Superficie bruta construida

24.668 m²

Ocupación

97 %

Año de construcción

2015

Superficie bruta del terreno

1,66 ha

Unidades

145

Cathedral Commons (2 Propiedades)

Media

Aspectos destacados de la inversión

Washington DC’s Iconic Mixed-Use Asset: 124K SF of Premier Retail Anchored by Giant & 145 Class-A Apartment Units Strong In-Place Cash Flow with Compelling Blended Yield Offered Well Below Today’s Replacement Cost
Retail Anchored by DC Region’s #1 Grocer- Giant- on a New 20-Year Lease Rare Northwest DC Acquisition Opportunity with Extremely High Barriers to Entry and Limited to No Future
Supply Prestigious Wisconsin Avenue Address Central to the Area’s Most Established Neighborhoods
Best in Class Renter Demographics: $200K Average Household Income, $1.2M Average Home Value, 3.1% Unemployment Rate
Transit Oriented Destination Adjacent to Major Thoroughfares and Walkable to Cleveland Park Metro Station (Red Line)
Vibrant Cathedral Heights Neighborhood with Convenient Accessibility to Major Employment Hubs and Surrounding Lifestyle Amenities Transit
Strong Property Fundamentals: 97% Multifamily Occupancy and 3.07% YTD Lease Trade-out Combined with 3.7% Average Annual Rent Growth Projected in 2025. 92% Retail Occupancy, 12.3 years of WALT, and $800+ Average Sales PSF