Progressive Site - 12201 Old Columbia Pike - 2024

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to exclusively offer the opportunity to acquire 12201 Old Columbia Pike in the Silver Spring submarket of the Washington DC Metro (“Property” or “Asset”).

Progressive redeveloped the 14,734 SF Property in 2013 to optimize efficiency as a flex office building to provide automotive inspections and serve as a claims office. Upon Sale, Progressive will require a short-term sale leaseback of 12 months (with ability to terminate early) before vacating the Property, and Progressive will be solely responsible for all incurred operating costs associated with the Property.

The Asset offers premiere visibility along Columbia Pike, an arterial road which sees over 60,000 vehicles per day. The Property is positioned in a dynamic micro market poised to deliver over 12M SF of mixed-use development within a one-mile radius of the Property with approved development projects VIVA White Oak – breaking ground in Fall 2025 – and White Oak Town Center – whose first phase is delivering in Summer 2024.

This unique opportunity allows investors and users alike the ability to acquire a one of a kind, recently delivered asset in a surging pocket of Northern Silver Spring stimulated with favorable demographics and development tailwinds. The Asset is perfectly suited for users seeking a mission-critical facility and investors pursuing conversion opportunities alike, as the Property’s CR zoning providing flexible, by-right conversion optionality.