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.
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.