$77.5 Million Non-Performing Office Loan
US - Washington, DC
MYR 342,434,000 | 28,508 m²
Jones Lang LaSalle Americas Inc. (“JLL”) is pleased to exclusively offer the opportunity to acquire Cornerstone Corporate Center II (the “Property” or the “Building”), a 109,659 square foot, Class A office building 100% leased to DHL Express (USA), Inc, a division of DHL (Deutsche Post DHL Group - Moody’s:A2; Fitch: BBB+). The Property is located in the highly amenitized Cornerstone Corporate Park in Plantation, FL and has served as the U.S. corporate headquarters for DHL Express since it was built in 2005. DHL recently renewed their commitment to Cornerstone II and extended their lease out to December 31, 2026.
Cornerstone II is perfectly situated at a key access point to the town of Plantation, a vibrant live-work-play community that benefits from exceptional office fundamentals, affluent household demographics, and a myriad of proximate amenities. These highlights, along with the property’s proximity to I-595, covered executive parking, electric car charging stations, and exceptional lake views, marks a rare opportunity to invest in a Class A suburban office asset in south Florida. Furthermore, the Tenant’s longevity at the property and recent extension offers investors secure income over the medium term, and upside opportunity in the longer term as in-place rents are marked to market.
Adjoining Cornerstone I Office Building is not part of this offering but is available separately.
· Class A Suburban Asset Built in 2005
· Committed Tenant with Investment Grade Parent
· Mission Critical Operation at Property
· Strategic Location with Premier Accessibility
· Park is Now Fully Developed with Complementary Uses
· Abundant Amenity Base
· Future Development Opportunity – Potential Covered Land Play