Office

370 L'Enfant Promenade

Washington, DC United States
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Documents

Enter the "Deal room" for exclusive documents related to this property.

The Deal Room features confidential documents related to this property. To access the Deal Room, you will need to be logged in. If you don't have an account, please create one. More questions? Visit our FAQ.
I accept the confidentiality agreement
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. Approval for Deal Room access requires review by our Broker Team. You will be notified by email once your access is granted. 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.
I accept the confidentiality agreement I accept the confidentiality agreement
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.

Key facts

Building Area

Property description

Jones Lang LaSalle Americas, Inc. (“JLL”), as exclusive representative, is pleased to present this opportunity to purchase 370 L’Enfant Promenade (“370 L’Enfant” or the “Property”), a 407,321 SF Class A office asset located in the heart of Southwest Washington, DC – the most exciting and rapidly transforming submarket in the nation’s capital.

 



The Property recently underwent a comprehensive $10.3 million base building repositioning and is now is 86% leased to 19 tenants with over 7 years of weighted average lease term (“WALT”). Anchored by the Federal Bureau of Prisons (28%, May-32 LXD, S&P AA+) and the Department of Treasury (10%, Apr-37 LXD, S&P AA+) on a long-term basis, 370 L’Enfant provides stable, diversified cash flow from substantial credit tenancy - 84% of in-place tenants are federal agencies or contract directly with the US federal government.

Investment highlights

  • Class A office asset that recently underwent an extensive $10.3 million base building repositioning featuring modernized common areas and a spa-quality fitness center


  • 86% leased to 19 tenants with over 7 years of WALT with a roster of private and public sector credit tenancy; 84% of in-place tenants are federal agencies or contract directly with the US federal government


  • 30% of the RBA has 19 years of historical occupancy on a weighted average basis; sticky tenancy further driven by 19 federal agency headquarters nearby


  • Endless amenity offerings within walking distance – direct proximity to L’Enfant Plaza’s retail (50+ shops and restaurants, 120,000 SF) and less than a 5-minute walk to The Wharf (3.2 million SF mixed- use development)


  • One block from L’Enfant Metro Station (5 of 6 Metro lines); an above-market parking ratio of 1.2/1,000 SF with direct vehicular access to major thoroughfares such as Constitution Avenue and I-395


  • Over 700,000 SF in recent private sector leasing in Southwest with The Wharf achieving some of the District’s top rents; embedded upside as Southwest experiences remarkable rent growth 


  • Rare opportunity to acquire a recently renovated asset at a significant discount to replacement cost in Washington, DC’s highest growth submarket


Last Updated Date: 08 Oct 2021
Matt Nicholson
Matt Nicholson
Managing Director
Broker Licenses
DC-SP98369865 MD-641934 VA-0225191878
Jim Meisel
Jim Meisel
Senior Managing Director, Washington, D.C. Office Co-Head
Broker Licenses
DC-SP100478 MD-521313 VA-0225049461

There was an error submitting your request. Please try again, or submit you inquiry here.

 

PRIVACY NOTICE

Jones Lang LaSalle (JLL), together with its subsidiaries and affiliates, is a leading global provider of real estate and investment management services. We take our responsibility to protect the personal information provided to us seriously.

Generally the personal information we collect from you are for the purposes of dealing with your enquiry.

We endeavor to keep your personal information secure with appropriate level of security and keep for as long as we need it for legitimate business or legal reasons. We will then delete it safely and securely. For more information about how JLL processes your personal data, please view our privacy statement.

+63282312281
Last Updated Date: 08 Oct 2021

Do you have any questions?  Visit our FAQ page

JLL  financing

JLL can help you finance and manage your portfolio.
Email us today to see how we can help achieve your ambitions.