DC USA — Sale in Washington, DC

  • Price: $535
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Washington, DC 20010
  • Year built: 2008

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Description

Jones Lang LaSalle, as exclusive advisor, is pleased to present the opportunity to acquire DC USA – the top retail destination in the nation’s capital. Originally built in 2008, DC USA spans 267,512 rentable square feet and shares the premises with a 180,000 square foot shadow anchor owned by Target as well as approximately 1,000 below-grade parking spaces. A winner of the Urban Land Institute’s Global Award for Excellence in 2010, the property’s anchor tenants include category-leading national retailers such as Lidl, Burlington, Marshalls, Best Buy, Old Navy, Washington Sports Club, and Bouldering Project (coming soon). Two banks, Bank of America and Chase, hold $535 million in combined deposits, while quick-service restaurants, including Chick-Fil-A, Taco Bell, Panda Express, and Krispy Kreme, average $1,400+ per square foot in reported sales. The property’s high performance can be attributed to its irreplaceable location that spans 1,400 total linear feet of frontage, including 500 linear feet each along 14th Street NW (~23,000 VPD) and Irving Street NW in the ultra-dense Columbia Heights neighborhood. Sitting adjacent to the Columbia Heights Metro (Yellow & Green Line service), and in the crosshairs of the District’s three most dense neighborhoods – Columbia Heights, Adams Morgan, and Mount Pleasant – DC USA’s location boasts population density three times greater than the city average and experiences over 25,000 daily weekday pedestrians, many of whom utilize the property for daily shopping needs, and can access the property’s tenancy through both street-front entries as well as the three-story interior atrium. Currently 85% leased with a weighted-average remaining lease term of 6.0 years, the asset offers a stable and diversified cash flow with the ability to increase net operating income by approximately 25% with the lease-up of available suites ranging from 700 square feet to 20,100 square feet. The property’s available suites are primarily concentrated a

Market Context

This retail in Washington, DC is listed for sale at $535. The building dates to 2008. Compare it against other retail listings for sale in Washington, DC — view the full market.

Estimated Price per SF

$195.94/SF – $1,425/SF

Mid: $593.76/SF

About 8 in 10 recent recorded sales fell within a range this wide around the estimate. An automated estimate, not an appraisal.

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