6870 Wellington Road, Manassas, VA, 20136, US

Wellington Crossroads

Attributes

Building area net

4,976 m²

Occupancy

100%

Year built

1988

Number of buildings

Clear height

5.49 m

Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to present Wellington Crossroads, two small-bay industrial assets totaling 53,560 square feet in Manassas, Virginia. This offering represents a rare acquisition opportunity in the supply-constrained Dulles- Manassas submarket with immediate income upside and exceptionally strong market tailwinds.

Wellington Crossroads delivers compelling investment fundamentals through a short Weighted Average Lease Term (WALT), great access and phenomenal visibility. Current rents are 75% below market rates with all leases expiring by end of 2026, creating an immediate rental appreciation opportunity as tenants roll to market. The assets feature versatile infill industrial space with 18 drive-ins, 10 knock-out panels, and 18-foot clear height, appealing to highly coveted and under-served small-bay industrial needs of Northern Virginia.

The Dulles-Manassas submarket has experienced 63% rent growth since 2020 and maintains a tight 3.1% vacancy rate. Over 7 million square feet of industrial space faces displacement by data center development over the next three years, further constraining supply and supporting continued rent appreciation in this high-growth corridor.

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Investment Highlights

HIGHLY FUNCTIONAL AND VERSATILE SHALLOW-BAY ASSET

With 18 drive-ins, an additional 10 Knock-out panels, and 18’ clear height, the Property offers versatile space appealing to a broad variety of tenants.

STRATEGIC INFILL LOCATION

Located just 5 minutes away from I-66, providing exceptional access to Northern Virginia and Washington D.C.’s affluent consumer base.

EXCEPTIONAL OCCUPANCY AND FLEXIBILITY

Fully occupied with 10 tenants, the portfolio showcases strong tenant fundamentals in the Dulles-Manassas submarket, further strengthened by rising demand for data center servicers.

DATA CENTER-DRIVEN, SUPPLY CONSTRAINED REGION

Market rents are expected to grow as vacancy tightens, with the data center development pipeline eclipsing 7 million square feet of existing industrial.

STRENGTHENING MARKET FUNDAMENTALS

The market has achieved impressive 63% rent growth over the past five years. With vacancy at just 3.1% and current NNN rents of $18.46, the tight supply environment supports continued rent appreciation.

SHORT-TERM LEASE ROLLOVER WITH BELOW MARKET RENTS

75% below-market rents and leases set to expire by the end of 2026 creates immediate upside through lease-up to market rates.