Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Documents

Enter the "Deal room" for exclusive documents related to this property.

The Deal Room features confidential documents related to this property. To access the Deal Room, you will need to be logged in. If you don't have an account, please create one. More questions? Visit our FAQ.
I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. Approval for Deal Room access requires review by our Broker Team. You will be notified by email once your access is granted. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.
I accept the confidentiality agreement I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Year Built 1963
Building Area
Land Area ()

Property Description

Jones Lang LaSalle Americas, Inc. (“JLL”), as exclusive representative for Owner, is pleased to present this opportunity to purchase the leasehold interest in the Jefferson Building (the “Property”), a freestanding 74,248 RSF (75,790 BOMA RSF) boutique office asset. Located in the heart of Washington, DC’s central business district (“CBD”) and home to historic DC restaurant The Palm, the Property boasts 93% occupancy to 10 tenants with 5.0 years of weighted average lease term (“WALT”).

The Property’s location – at the corner of 19th Street and Jefferson Place – is in the heart of the CBD’s Golden Triangle, downtown Washington, DC’s most vibrant and sought-after office location. In total, the Golden Triangle houses 187 restaurants, 11 hotels, 1,000+ multifamily units, and is in close proximity to the White House. Furthermore, the Jefferson Building is located directly on “Restaurant Row,” a renowned dining, shopping, and entertainment strip. Situated just one block south of Dupont Circle – one of the most affluent residential neighborhoods in the District – the Property has long attracted tenants whose principals and/or employees live in and around Dupont Circle. In addition, due to a favorable location from a commuting perspective, the Jefferson Building is in a prime location for lawyers and lobbyists who commute from the wealthy western and northwestern suburbs.

The Jefferson Building is a coveted investment opportunity, boasting entrenched tenancy and demonstrated market outperformance. Investors are poised to benefit long-term from the strong, diverse in-place cash flow and the enduring strength of the Class B market. With an average historical occupancy of 95%, the Jefferson Building has solidified the narrative of consistent demand from boutique tenants through all economic cycles.

Investment Highlights

  • FREESTANDING BOUTIQUE OFFICE ASSET LOCATED IN THE HEART OF WASHINGTON, DC’S CBD
  • 95% AVERAGE OCCUPANCY OVER THE PAST 12 YEARS DUE TO CONSTANT DEMAND FROM SMALL TENANTS
  • TENANTS BOAST 20+ YEAR WEIGHTED AVERAGE PROPERTY TENURE
  • DIVERSE, IN-PLACE CASH FLOW – AVERAGE TENANT ±7,000 SF
  • ATTRACTIVE BUILDING CHARACTERISTICS INCLUDING COLUMN-FREE FLOOR PLATES AND ABOVE-MARKET PARKING RATIO
  • PROMINENT LOCATION FRONTING “RESTAURANT ROW” IN THE HEART OF THE GOLDEN TRIANGLE – DC’S MOST AMENITY-RICH NEIGHBORHOOD
  • IDEAL ACCESSIBILITY – WALKING DISTANCE TO 4 METRO STATIONS: DUPONT CIRCLE (RED), FARRAGUT NORTH (RED), FARRAGUT WEST (ORANGE, BLUE, SILVER) AND FOGGY BOTTOM (ORANGE, BLUE, SILVER)
  • FREE & CLEAR OF EXISTING DEBT
Last Updated Date: 09 Sep 2021
Jim Meisel
Jim Meisel
Senior Managing Director, Washington, D.C. Office Co-Head
License details
DC-SP100478 MD-521313 VA-0225049461
Matt Nicholson
Matt Nicholson
Managing Director
License details
DC-SP98369865 MD-641934 VA-0225191878

There was an error submitting your request. Please try again, or submit you inquiry here.

 

PRIVACY NOTICE

Jones Lang LaSalle (JLL), together with its subsidiaries and affiliates, is a leading global provider of real estate and investment management services. We take our responsibility to protect the personal information provided to us seriously.

Generally the personal information we collect from you are for the purposes of dealing with your enquiry.

We endeavor to keep your personal information secure with appropriate level of security and keep for as long as we need it for legitimate business or legal reasons. We will then delete it safely and securely. For more information about how JLL processes your personal data, please view our privacy statement.

+6498849702
Last Updated Date: 09 Sep 2021

Do you have any questions?  Visit our FAQ page

JLL  financing

JLL can help you finance and manage your portfolio.
Email us today to see how we can help achieve your ambitions.