1945 Old Gallows Road

Jones Lang LaSalle Americas, Inc. (“JLL”), as exclusive representative for the Owner, is pleased to present this opportunity to acquire 1945 Old Gallows Road (the “Property”) in Tysons, VA, a 168,993 BRSF, Class A asset that is 92% leased to a highly diversified roster of 33 office and medical tenants. 1945 Old Gallows offers a unique opportunity to acquire a recently renovated and stabilized asset with proven leasing success and an attractive downstream capex profile.

As a product of a highly successful 2020 renovation, the Property has attracted 22 new tenants since 1/1/2023 alone. With renewals, over this time period, there has been a total of 97,000 SF of leasing activity addressing 62% of the overall RBA. Virtually all tenants have been addressed post-pandemic, in a curated rent roll that features 28% of RBA as entrenched medical/clinical tenancy and 22% of RBA as newly built out spec suites, both of which contribute to an attractive downstream capex profile for the asset.

Further positioning the asset for years to come was the current ownership’s $1.5 MM renovation in 2020 which delivered best-in-class amenities and allowed the Property to benefit from the ongoing flight-to-quality amongst tenants in the post-pandemic era. This renovation delivered modernized common areas, conference center, a high-quality fitness center and locker rooms, and multiple tenant lounges to the Property. The centerpiece of the renovation is The Alley, a unique, architecturally designed indoor/outdoor space featuring comfortable seating throughout and several entertainment options including a foosball table and an arcade.

With its diverse and stable tenancy, top-of-the-market amenities, and convenient location, 1945 Old Gallows Road offers investors an asset that is well positioned for continued success for years to come at a historically low basis and significant discount to replacement cost.