CVS Condo - 675 K Street NW, Washington D.C

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the CVS condo located in downtown Washington, D.C. (the “Subject Property” or the “Asset”).

This CVS benefits from its premier location in the heart of the nation’s capitol within the Mt. Vernon Triangle district approximately 1-mile from the White House. Delivered in 2015, the Asset is situated on the ground floor of a ten-story state-of-the-art office building owned & occupied by the Association of American Medical Colleges. The Asset features dual entrance points along K St NW & New York Ave NW which combined for over 45,000 vehicles per day. 

The Mt. Vernon Triangle neighborhood is known for its vibrant culture and exquisite architecture. The surrounding area boasts a plethora of activity which includes over 7,000 hotel rooms, 11,000 apartments, and 27 million square feet of office space within a half-mile of the Asset. Notable attractions within the area include Capital One Area, the Walter E. Washington Convention Center and City Centre, a premier mixed-use development comprised of more than 2 million square feet of commercial and residential space. Multiple public transportation systems surround the Asset and support its one-mile daytime population of more than 310,000 people. The area bolsters exceptional demographics with more than 64,000 residents within a 1-mile radius and average household incomes exceeding $172,000 annually.

This offering presents a rare opportunity to acquire a premier real estate asset with over 11 years of passive cash flow remaining and a NNN lease structure guaranteed by a top pharmaceutical corporation.