$185MM Mixed-Use Loan Sale | Washington, DC
US - Washington, DC
$185,000,000 | 488,801 sf
Jones Lang LaSalle Americas, Inc. (“JLL”), as exclusive representative for the Owner, is pleased to present this offering for Hillside Center I & II (the “Properties”), a 92% leased, two-building office portfolio located in Columbia, Maryland. The Properties are anchored by BAE Systems Information and Electronic Systems Integration (Moodys: Baa2) and Columbia Association (Columbia’s Community Management Corporation partially funded through local taxes) who have each renewed their leases until 2025 and 2030, respectively.
This 87,267 square foot, multi-tenanted office portfolio is situated in one of the most affluent and educated regions in the country. The Properties are located approximately one-mile outside of Downtown Columbia, which is undergoing a generational, multi-billion-dollar transformation into a live-work-play epicenter by The Howard Hughes Corporation. Maryland’s largest public employer, Fort Meade, is located 10 miles from the Properties and supports the region by generating more than $22 billion in economic activity and 190,000 jobs. Similarly, the State’s largest private employer, The Johns Hopkins University Applied Physics Laboratory, is just 4 miles away, employing over 7,800 people and paying over $115 million per year to Howard County suppliers and contractors. Equidistant to both Washington, DC and Baltimore, MD with excellent access to Interstate 95, the Properties enjoy the support of both communities.
With unparalleled accessibility, an abundance of nearby amenities, an urban-suburban ecosystem and proximity to Maryland’s largest employer, Hillside Center I & II present attractive in-place cash flows through stable tenancy.