2020 K Street_Actifs en vente
2020 K Street_Actifs en vente
2020 K St NW, Washington, DC, 20006-1806, US

2020 K Street

Description de l'actif

Jones Lang LaSalle Americas, Inc. (“JLL”), as exclusive representative for the Owner, is pleased to present this opportunity to acquire the fee simple interest in 2020 K Street NW (the “Property” or “2020 K”), a 411,651 BRSF, Class A office asset anchored by world-renowned architecture firm Gensler (21% of RBA) through 2032 and leading global real estate services firm Jones Lang LaSalle (18% of RBA) through 2036. 2020 K offers a unique stabilized lease up opportunity – the Property is 92% leased to 20 tenants with 6.5 years of WALT, with 23% of RBA assumed to vacate in the next three years, offering investors the rare opportunity to create value while benefiting from downside protection via in-place cash flow. With over half the building recently reaffirming their footprints (including both anchor tenants) and 92% average occupancy since 2011, the Property has exhibited robust leasing success that supports continued tenant demand. The Property is being offered with highly accretive in-place assumable financing or free and clear.


2020 K is located in the heart of Washington, DC’s CBD along the K Street Corridor, which has become synonymous with power and prestige due to its proximity to the White House. The freestanding LEED Gold asset offers abundant natural light and has undergone significant renovations to deliver trophy-level amenities. A $4M+ renovation of the lower level fitness center, conference center, and tenant lounge was completed in 2018 and a $3M+ renovation of the lobby was completed in 2017, complementing the existing rooftop terrace with sweeping views and the ground floor café. With a lack of trophy availability and a historically low development pipeline, highly amenitized Class A assets such as 2020 K are positioned to capitalize amidst tenants’ strengthening flight to quality.


Accordingly, 2020 K represents a rare combination of robust cash flow and value creation potential, with

investors benefiting from a well executed amenization plan, an attractive K Street location, and accretive

in-place financing.

...

Caractéristiques de l'actif

Surface de l'actif brut
38 244 m²
Type d'immeuble
A
Occupation
92 %
WALT
6.5 années
Année de construction
1974
Année de rénovation
2018

Média

Points clés d'investissement

  • 411,651 BRSF Class A Office Asset with Globally Recognized, Long Term Anchor Tenants Gensler (21% of RBA, Jul-32) and Jones Lang LaSalle (18% of RBA, Apr-36)
  • Over 246,000 SF of Leasing Activity Post-Pandemic, Including Both Anchor Tenants Reaffirming Their Footprints (Gensler Expansion & JLL Extension)
  • Stabilized Lease Up Opportunity – 92% Leased to 20 Tenants with 6.5 Years of WALT – with 28% of RBA Assumed to Vacate by 2028, Offering Unique Value Add Potential on Robust In-Place Cash Flow
  • 92% Average Occupancy Since 2011, Affirming the Asset’s Appeal to Washington, DC Tenancy
  • Offered Free & Clear or with Highly Accretive In-Place Assumable Financing
  • Trophy-Level Amenitization – Rooftop Terrace with Sweeping Views, Fitness Center with Fully Equipped Locker Rooms and Saunas, Conference Center, Tenant Lounge, and Ground Floor Café – Positions Asset for Success Amidst Flight to Quality
  • Highly-Amenitized Class A Assets Will Outperform as Trophy Availability Dwindles and Development Pipeline Reaches Historic Lows
  • Located in the Heart of Washington, DC’s CBD Six Blocks from the White House
  • Walkable to Four Metrorail Lines within 5 Minutes and Easy Vehicular Ingress/Egress to MD and VA Suburbs
2020 K Street 4_Actifs en vente
2020 K Street 4_Actifs en vente

Contacter l'équipe

2020 K Street (0 actifs)
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Dernière mise à jour
17 mai 2024