$77.5 Million Non-Performing Office Loan
US - Washington, DC
NZ$124,624,000 | 28,508 m²
Jones Lang LaSalle, Inc. (“JLL”), as exclusive representative for the Owner, is pleased to present this opportunity to purchase 400 Butler Farm Road (the “Property”), a 100,632 square foot facility located within the Hampton Roads Center submarket. Built in 1999 and renovated in 2017, the property is a Class A, single-story corporate office building on 14.3 acres of land.
The central location is easily accessible by Interstate 64, is just two miles from the extensive amenities offered by Peninsula Town Center, and less than 15 minutes from Langley Air Force Base. The building itself features an array of amenities including a cafeteria with commercial grade kitchen, fitness center, numerous breakrooms, and an adjacent covered outdoor patio. The L-shape design with numerous points of entry allows for the space to be subdivided for users from 30,000 – 70,000 RSF. The absence of elevators and common areas, coupled with the presence of multiple direct access points/entrances, enables for COVID-friendly office spaces with rents at a discount to comparable product. The above-standard parking ratio of 6.9 spaces per 1,000 square feet is ideal for multiple dense users, a 24/7 operation, and/or shift work. The City of Hampton offers incentives to potential occupiers as part of the Enterprise Zone Program.