704 7th Street Northwest, Washington, DC, 20001, US

Chinatown Row

자산 설명

Jones Lang LaSalle, as exclusive advisor, is pleased to present the opportunity to acquire the fee simple interest in Chinatown Row (the "Property") - a 48,083 SF urban mixed-use property located along 7th Street in the heart of Washington, DC's Gallery Place-Chinatown entertainment district. This "beachfront" 24-7 location places the Property just steps away from the to-be renovated Capital One Arena - home to the Wizards and Capitals - and Gallery Place, a 488,801 SF mixed-use asset adjacent to the arena and soon-to-be anchored by Monumental Sports & Entertainment ("Monumental") for a myriad of uses as part of Capital One Arena's $800 MM+ reimagination.

Chinatown Row is currently 33% leased to 5 tenants with 7.2 years WALT, affording investors a unique value-add opportunity through a full re-tenanting of all remaining vacancy - 26,840 SF of office and 5,487 SF of retail. Investors will immediately benefit from the Property's significant in-place cash flow, and its full basis reset should afford investors significant upside by capitalizing on the recent uptick in tenant activity associated with Monumental's recommitment to the East End and the Arena's pending renovation.

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개요

건물 면적 순

4,467 제곱미터

점유율

33%

월트

7.2 년

미디어

투자 하이라이트

Outstanding Value-Add Opportunity Through Vacant Lease Up

33% leased Property provides outsized growth opportunity through the lease up of vacant suites
26,840 SF of vacant office
5,487 SF of vacant retail space
26.5% 5-Year NOI CAGR
Consistent demand for retail space in the area provides an opportunity to lease up the 2 vacant retail suites in year 2 and increase NOI by 25%
Spec built office suites provide potential tenant with speed to commencement.

Premier Location with Outsized Demand

Across the street from Capital One Arena (20,000-seat capacity) that is currently undergoing a $800+ million renovation
Located on the same block as the Gallery Place – Chinatown Metro Station which connects the Green, Yellow, and Red lines
Situated in Washington D.C.'s prestigious East End – home of some of the District's most prestigious law firms, restaurants, and retail
In the heart of the Chinatown neighborhood which is known for its cultural significance