資產詳情
Jones Lang LaSalle Americas, Inc. (“JLL”), as exclusive representative for the Owner, is pleased to present this offering for 1140 Connecticut Avenue (“1140 Connecticut” or the “Property”), a 188,578 BRSF, Class B office building prominently located at the confluence of Connecticut Avenue, Rhode Island Avenue, and M Street where Dupont Circle meets the Central Business District (“CBD”). The Property is 47% leased to 15 diverse tenants with 4.2 years of weighted average lease term, including the legendary DC Improv Comedy Club which has called 1140 Connecticut home since 1992.
The Property benefits from a prime location directly between Dupont Circle and the CBD. Dupont Circle and its adjacent residential neighborhoods, Adams Morgan and Logan Circle, are known for their lively nightlife along the 14th Street Corridor. The Golden Triangle, the heart of DC’s business district, offers an impressive array of amenities, including 187 restaurants, 11 hotels, over 1,000 multifamily units, six parks, and direct proximity to the White House. The Property is nestled between the two submarkets and conveniently located near public transportation, including the Dupont Circle, Farragut North, and Farragut West Metrorail Stations, providing easy access to the Red, Blue, Orange, and Silver lines of the DC Metrorail system. Furthermore, the Property’s strategic location at the intersection of Connecticut Avenue, L, M, and 18th Streets offers quick and convenient vehicular access to the wider Metro region.
1140 Connecticut presents an exceptional opportunity for investors to acquire a highly sought-after address located on one of Washington, DC’s most coveted thoroughfares at a fraction of replacement cost providing flexibility to undercut Class A market competition. Boutique floor plates (±15,000 RSF) offer investors flexibility for both single and multi-tenant lease-up strategies on the ± 99,000 RSF of vacancy to re-stabilize while benefiting from a compelling basis. Only eight buildings on Connecticut Avenue, stretching from Lafayette Square to Dupont Circle, have traded in the past ten years, and 1140 Connecticut itself is available for sale for only the second time in nearly 80 years.
特性
媒體
投資亮點
- 188,578 BRSF Class B Building Prominently Located on Connecticut Avenue Where Dupont Circle Meets the CBD – One of Washington DC’s Most Vibrant Corridors
- Generational Opportunity to Control Prestigious Real Estate – the Property is One of Only 8 Buildings on Connecticut Avenue South of Dupont Circle That Has Traded Hands in the Last Decade and is Available for Sale for Only the Second Time in Nearly 80 Years
- Irreplaceable, Transit-Oriented Location with Near Perfect Walk and Transit Scores (99/100); Within Walking Distance of Four Different Metrorail Lines (Red, Blue, Orange, and Silver) with Immediate Vehicular Access to Major City-to-Suburb Thoroughfares
- Easily Walkable to Downtown Washington, DC’s Most Popular Residential Neighborhoods: Dupont Circle, Logan Circle, Adams Morgan, Mt. Vernon Triangle, Chinatown-Penn Quarter, and Shaw
- 47% Leased to 15 Tenants with 4.2 Years of WALT with In-Place Tenancy Averaging 11.5+ Years at the Property
- ±15,000 BRSF Floor Plates Provide Exceptional Views Along the Connecticut Avenue Corridor and Provide Single or Multi-Tenant Lease-Up Flexibility
- Ground-Floor Retail Vacancy Directly on Connecticut Avenue, One of the Busiest Retail Corridors in Washington, DC, Provides Additional Upside via Placemaking Opportunities
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