8270 Greensboro

Jones Lang LaSalle Americas, Inc. (“JLL”), as exclusive representative for the Owner, is pleased to present the opportunity to acquire 8270 Greensboro Drive (“8270 Greensboro” or the “Property”), a fully-renovated 166,393 BRSF Class A office asset currently 96% leased to 13 tenants with 8.5 years WALT. The delivery of nearly $6 million in amenity and base building upgrades including a new lobby, conference center, tenant lounge, and furnished outdoor patio transformed the asset, leading to over 136,000 SF (82% of RBA) of leasing and a 28% increase in weighted average rents post-renovation. This leasing success stabilized the asset and provides investors with a robust go-forward cash flow stream, with over $40 MM ($243 PSF) in contractual cash flow from in-place tenants.

8270 Greensboro is located one block away from The Boro on “The Hill”, placing it amongst the closest office assets to Tysons’ only walkable environment. The Boro is a 5 MSF mixed-use destination that delivered in 2019 and provides ample fast casual and formal dining options, along with extensive green space, retail, multifamily, and office. The Hill’s proximity to The Boro and the Greensboro Metro Station has cemented it as the premier micromarket in Tysons as tenants continue to seek space that is engaging for their employees and clients. The Property’s competitive set within The Hill exemplifies this tenant demand, accounting for +/- 274,000 SF of net occupancy gains over the past 24 months while the remainder of the Tysons submarket saw +/- 324,000 SF of occupancy loss. The success of this micromarket is set against the backdrop of a changing Tysons, which has over 1.8 million SF (6.6% of inventory) of office space under proposal for conversion to residential. This combination of proven tenant demand on The Hill and shrinking supply positions the asset for leasing success for years to come.

Offered free and clear of existing debt at a fraction of replacement cost, 8270 Greensboro offers a unique opportunity to acquire stabilized in-place cash flow with proven leasing demand and rental growth provided by the most-recently renovated asset in Tysons’ premier micromarket.