Dulles South I & II

Chantilly, Virginia

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Building

Stats

  • Property Type Office - Office Building
  • Building size (SF) 38,502
  • Size (Ac) 141,413
  • Price $6,000,000

Overview

Avison Young’s U.S. Capital Markets Group, the exclusive advisor to the Owner, is pleased to present the opportunity to acquire the Dulles South I & II (the “Properties”), two single story professional office properties located in Chantilly, VA at the entrance to Sullyfield Business Park. The two buildings total 38,502 square feet of small suite, single story office space cate ring to small professional services firms and medical offices.

The Property has a proven track record of consistently high occupancy levels and is currently 100% leased. There are twenty-one (21) tenants in-place with the average tenant size of approximately 1,800 square feet. Dulles South I & II provides new ownership with a rare opportunity to achieve outsized returns at a fully stabilized asset through marking rents to market. Fifty-six percent (56%) of the tenants currently pay below market rents. The weighted average rents at both Properties currently $4.83 per square foot below the market’s average rent of $23.25 per square foot (FS). Dulles South I & II’s weighted average lease term is 1.73 years, providing a clear path to near term value enhancement through leasing, with limited capital contributions required for tenant improvements.

Highlights

100% leased institutionally owned and maintained properties with 21 diverse tenants

Sticky tenant mix with approximately 50% of the tenants renewing multiple times

Excellent visibility & flexible I-5 zoning provide the conversion optionality for limited retail/showroom space at the corner of Sullyfield Circle
Potential for redevelopment to self storage with 75’ height restrictions on a 3.2 acre lot with “by right” I-5 zoning

Exceptional local demographics where the local (1 mile) median household income exceeds $121,000

Offered free and clear of existing debt with nearly 1.73 years of WALT

Location Map

Downloads

AY-Dulles-South-Teaser.pdf

Team

Bert Harrell

Principal
Avison Young - US - DC - Washington DC
7032882702
7032981168

Tripp Tarro

Vice President
Avison Young - US - DC - Washington DC
7039926053
5713180706

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