|Building Area Net||
Jones Lang LaSalle ("JLL") has been retained as the exclusive advisor for the sale of Independence Center II, located at 15040 Conference Center Drive, Chantilly, VA (“Independence Center II” or “the Property”). Strategically located in the cyber-intelligence “hub” of Westfields, the Property is currently 100% leased to a diverse roster of well-established government contractors and offers investors a robust cash return throughout the investment horizon. Constructed in 2006, investors will enjoy the Property’s stable cash flow and proven tenant demand with 6% historical vacancy since 2010. With immediate adjacency to major installations such as the National Reconnaissance Office (NRO), FBI and the new CIA facility, Independence Center II offers investors a Class A, “Front Door” location and the competitive advantage coveted by today’s high-security government contractor community.
- This 100% leased, 115,563 SF Class “A” building features critically-important “line of sight” to the highly-secure government occupiers across the street, the customer to numerous government contractors in Westfields, including our anchor tenant Technology Management Associates (a wholly owned-subsidiary of SAP).
- Fully occupied by 5 tenants with 6.6 years of weighted average lease term; approximately 6% average historical direct vacancy at the property since 2010
- Mission critical corporate headquarters for Technology Management Associates, a wholly-owned subsidiary under SAP (52% of RBA) and Arion Systems, Inc. (14% of RBA)
- Numerous, high-value infrastructure upgrades -> SCIF, data centers, backup generators, and direct fiber connectivity to the NRO
- Coveted and immediate access to the “Front Door” of NRO, FBI and CIA.
- Future office supply constraints: only 125,000 SF has delivered in Route 28 South since 2018 and no new office construction is in the pipeline
- Convenient commuting pattern for the highly-skilled and security-cleared employees via major roadways (Dulles Toll Road, I-66, Route 28 and Route 50 and from points in Maryland and DC), plus Dulles Airport for out-of-town staff and customers
- Below-replacement cost pricing that offers a compelling basis and competitive advantage
- Free and clear of existing debt