Office

11111 Sunset Hills Road (2019)

11111 Sunset Hills Road Reston, VA United States 20190
Asking Price Contact for pricing
Sq. Footage 214,654
NOI Net Operating Income N/A
Cap Rate N/A

Attributes

Year Built 2001

Property Description

Built in 2000, the Property has been institutionally maintained since completion and possesses first-class finishes throughout. Beneficiary of $1.3 million in recent capital improvements that include lobby and common area renovations, first-class fitness center with lockers and showers, as well as a new cafe and lounge with outdoor seating. A 45,000 SF floorplate with 30’ Å~ 30’ column spacing offers tenants of all sizes tremendous space planning efficiencies complete with 9’ finished ceilings. Structured and surface parking at a 3.2 per 1,000 SF ratio.

Investment Highlights

Jones Lang LaSalle Americas, Inc. (“JLL”), as exclusive representative for Owner, is pleased to present this offering for the sale of 11111 Sunset Hills (the “Property”), a 216,240 square foot (BOMA) Class A office building overlooking the Dulles Toll Road at the Wiehle Avenue interchange in Reston, Virginia. The Property is the beneficiary of $1.3 million in recent amenity upgrades and other improvements. The Property is 86% leased, with approximately 67% of the rentable area occupied by credit tenancy – General Dynamics (NYSE: GD / Moody’s: A2 / S&P: A+), IBM (NYSE: IBM / Moody’s: A2 / S&P: A), and Akamai Technologies (NASDAQ: AKAM) – at below market rents. Reston’s Wiehle Avenue interchange continues to evolve into a dynamic urban-suburban, infill location following the 2014 arrival of the Silver Line. The Wiehle-Reston East Silver Line Station, less than one-half of a mile from the Property, has been a catalyst for nearby office and residential development, actively transforming a mile-wide stretch of Sunset Hills Road into a vibrant, walkable, live-work-play environment. The Property’s high quality improvements and close proximity to the Silver Line and amenities, along with rents at a discount to new product, will position the Property to outperform the broader Northern Virginia office market long-term. 11111 Sunset Hills is an attractive multi-faceted investment opportunity in the heart of one of the Washington, DC metropolitan region’s best performing submarkets. Investors are poised to retain a high-quality, credit-worthy rent roll, while indexing below market in-place rents to market over the medium-term. There is further upside through the additional density available on site, affording investors outsized return potential through the additional FAR and development potential of the available outparcel.
Jim Meisel
Jim Meisel
Senior Managing Director Co-Head
Andrew Weir
Andrew Weir
Senior Managing Director

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