OVERVIEW

205,545 SF multi-tenant portfolio located in Washington D.C./VA. Located in the Route 28, North Ashburn/Dulles Corridor industrial submarket, in the Data Center Alley. Constructed in 1989, using brick façade and concrete tilt up walls, structural steel, steel joists and metals decks. Purchased at 24.7% discount to replacement cost.

OPPORTUNITY

Acquired in Q2 2017 at 66% occupancy. $7.44 PSF NNN base rents were approximately 11% below market rents and 14% below broker rents at acquisition.

VALUE-ADD INITIATIVES EXECUTED

We pushed rents to market rates at the property, approximately 30.7% increase since acquisition.