410-353-3041
10701 Parkridge Blvd, Reston, VA for Sale
Office - FOR SALE
1/10
null | Request Cap Rate

10701 Parkridge Blvd
Reston, VA 20191


HIGHLIGHTS

  • 66% Leased - 90% of RBA will expire within the next 3 years
  • Change of use could be explored via formal rezoning process
  • $4.0 MM+ in capital has been spent on improvements since 2014
  • Ideal Dulles Toll Road Access, 5 miles from Dulles International Airport
  • Class A Office with Redevelopment Potential

OVERVIEW

Jones Lang LaSalle Americas, Inc. (“JLL”), as exclusive representative for Owner, is please to present this opportunity to purchase Parkridge III (the “Property”), a 107,544 RSF Class A office building located at 10701 Parkridge Boulevard in Reston, Virginia. The Property is currently 66% leased to 6 tenants with over 90% of the building’s rentable area expiring by year end 2027. Located directly off the Dulles Toll Road and within Parkridge Business Park, the Property - with over $4.0 MM in recent capital spend - has consistently outpaced its submarket, due to its amenitization and accessibility. However, should investors no longer look to effectuate a value-add, office centric business plan, the Property’s current occupancy, expiration schedule, and site area (7.2 acres) may be more conducive to non-office uses medium to long-term. Accordingly, Parkridge III will be a highly attractive and sought after investment opportunity given its strong in-place cash flow and business plan optionality on a go-forward basis.

FOR SALE DETAILS

PRICE

Request Info for Price

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Parkridge III

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

3

BUILDING CLASS

A

YEAR BUILT

1986

SPRINKLERS

-

PARKING SPACES

400

LAND DETAILS

LAND ACRES

7.2 AC

LAND SF

313,632 SF

ZONING

I-3, County

APN/PARCEL ID

0271-01-0010D

ASK ABOUT THIS PROPERTY

Matt NicholsonLincoln Property CompanyMore Info
410-353-3041

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Matt NicholsonLincoln Property CompanyMore Info
410-353-3041

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.