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

Documents

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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

Building Area

Property Description

8110 Gatehouse Road and 2990 Telestar Court offer 307,022 BRSF of value-oriented, Class B office space with 1,111-car parking, situated on 8.53 acres in the heart of Northern Virginia's medical community. The two assets are conveniently located at the interchange of Route 50 and the Capital Beltway HOT Lane Entrances, with access to the Dunn Loring Metrorail Station and the vibrant Mosaic District Retail Center.


8110 Gatehouse Road:

Built in 1990 and recently renovated in 2019-2020, 8110 Gatehouse is 95% occupied, with 38% of RBA leased to a renowned, intellectual property law firm through July 2024. The current owner, INOVA Health System, occupies the remaining portion of leased space, and is to enter into a sale-leaseback agreement with Buyer upon sale.


2990 Telestar Court:

Adjacent to 8110 Gatehouse, 2990 Telestar is an 81,425 BRSF office building constructed/renovated in 1969/1997, with significant capital invested over 2010-2020. The asset will be fully vacant upon sale, presenting an investor with an outstanding opportunity to capitalize on Northern Virginia's continued leasing momentum at an acquisition price well below replacement cost.

Investment Highlights

·      Value-oriented, Class B office space with ample parking and approximately $6.8 million of capital spent ($3.2 million at 8110 gatehouse and $3.6 million at 2990 Telestar court) in last 10 years

·      In the heart of northern Virginia's medical community, which has made $500 million in capital investment since 2017

·      Conveniently located at the interchange of route 50 & the capital beltway hot lane entrances, with access to the Dunn Loring metro rail station and the vibrant mosaic district retail center

·      Acquisition price well below replacement cost, offering a compelling basis and competitive advantage

·      Outstanding opportunity to capitalize on northern Virginia's continued leasing momentum

·      Free & clear of existing debt


Last Updated Date: 16 Oct 2020
Bill Prutting
Bill Prutting
Senior Managing Director
James Molloy
James Molloy
Managing Director, Capital Markets

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Last Updated Date: 16 Oct 2020

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