LAND FOR SALE: POTOMAC MILLS VICINITY Mixed …images3.loopnet.com/d2/hl4_ebUGBkhZi_OrYdJPwWvD0mS-6Ui3cDw… · to qualify to drive in the I-95 HOV (high occupancy vehicle) ... The

rlt R. L. Travers & Associates, Inc.

Disclaimer: We have in preparing this information, used our best endeavors to ensure that the information contained herein is true and accurate, and deemed to be a reliable reflection of market values or has been

secured from sources we believe to be reliable, but we make no representation, guarantee or warranties, expressed or implied, as to the accuracy of the information complete, or reliable, current or error-free and

assume no responsibility for any errors or omissions contained therein. All references to age, square footage, income, and expenses are approximate. This is not a survey, any pictures, images, or drawings are only for

illustrative purposes. Any party should conduct their own independent investigations and rely solely on those results. This is not intended as a listing solicitation for a property currently listed with another broker.

For more information, please contact:

Guy Travers, Principal Broker

703.339.0100

[email protected]

Post Office Box 686 Springfield, Virginia 22150 P: 703.339.0100 F: 703.550.8815

www.r l t inc .net

LAND FOR SALE: POTOMAC MILLS VICINITY, NORTHERN VIRGINIA, WOODBRIDGE / I-95 CORRIDOR

Mixed Use Development Site 20.53 Acres (894,643.9 SqFt) +/-

Potomac Mills

THE OFFERING: 20.53 ± Acres Mixed Use Development Site located

along the Prince William Pkwy & Telegraph Rd inthe Potomac Mills Retail Market and 30 minutesfrom the heart of Washington D.C.

For Sale Price: $14,000,000 Zoning: Planned Business District & Planned Mixed

District Frontage: Prince William Parkway (67,000 AADT /

Annual Average Daily Traffic Count)

http://www.rltinc.net/









703.339.0100

[email protected]


www.r l t inc .net



LOCATION OVERVIEW AND SURROUNDING USES

The property is the main focal point of the Prince William County’s Parkway Employment Center Sector Plan and is located on the west side of the Prince William Parkway (VA-294) and the 1-95 access ramp (exit 158B) with a 67,000 2015 AADTV (Annual Average Daily Traffic Volume), 19,000 AADTV for Canton Hill Rd, and 12,000 AADTV for Telegraph Rd. It is located minutes to the Potomac Mills Mall, Virginia's largest outlet mall, with over 200 stores, AMC Potomac Mills 18 Theatres (with IMAX), and over 25 restaurants & eateries. Adjacent to the property is the Horner Road and Telegraph Road Commuter Parking Lots, also known locally as the Horner Road & Telegraph Road “Slug Lines”, where commuters going to Washington DC and wanting to qualify to drive in the I-95 HOV (high occupancy vehicle) lanes to avoid rush hour traffic, will pick up people “sluggers” waiting in a “slug line” to share a ride into and from D.C. The Horner Rd & I‐95 Park and Ride contains 2,363 parking spaces, the new Telegraph Road Park and Ride Facility, has 553 parking spaces, bicycle racks and lockers, crosswalks and benches, sidewalks, direct access for buses, bays and shelters for picking up and dropping off commuters, along with access to the I-95 HOV lanes. The Crossing West Shopping Center, is located immediately south of the property, and the Crossing East Shopping Center, is located immediately east of the property. Many big box stores and major retailers and hotels can be found in this area.










703.339.0100

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PROPERTY DESCRIPTION

The subject development is composed of five parcels containing approximately 20.53 Acres, being largely wooded and undeveloped. The property is designated Regional Employment Center (REC), of the Parkway Employment Center Sector Plan for the Prince William County Long Range Land Use Plan. “The sector plan area is located within 500 miles of nearly 50 percent of the U.S. population, next to a major north/south corridor of the eastern United States. It is part of the southern edge of the National Capital area and lies at a gateway entrance to the County from I-95. The area is quite accessible and highly visible from the interchanges for I-95, Prince William Parkway, and Caton Hill Road that represent about $50 million in road improvements.”

PROPERTY TAX INFORMATION

GPIN: 8292-94-6585; Parcel Address: 13505 TELEGRAPH RD, WOODBRIDGE, VA; Acreage: 17.4428 GPIN: 8292-94-6936; Parcel Address: 2254 OLD HORNER RD, WOODBRIDGE, VA; Acreage: 0.2856 GPIN: 8292-94-6125; Parcel Address: 2261 OLD HORNER RD, WOODBRIDGE, VA; Acreage: 0.6176 GPIN: 8292-94-5418; Parcel Address: 2360 PRINCE WILLIAM PKWY, WOODBRIDGE, VA; Acreage: 0.7634 GPIN: 8292-94-4806; Parcel Address: 2260 CATON HILL RD, WOODBRIDGE, VA; Acreage: 1.4288

GPIN: 8292-94-6585

GPIN: 8292-94-6936

GPIN: 8292-94-6125

GPIN: 8292-94-5418

GPIN: 8292-94-4806










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PARKWAY EMPLOYMENT CENTER SECTOR PLAN, LONG-RANGE LAND USE PLAN (UPDATED OCT. 2012)

The Parkway Employment Center Sector Plan has been prepared to further the economic development goals of Prince William County and to provide opportunities for high-quality employment at an important gateway entrance to the County from I-95. More specifically, this sector plan has been prepared to encourage and facilitate the location of Class A office uses and other quality, non-retail employment uses such as research and development facilities. The sector plan area is located within 500 miles of nearly 50 percent of the U.S. population, next to a major north/south corridor of the eastern United States. It is part of the southern edge of the National Capital area and lies at a gateway entrance to the County from I-95. The area is quite accessible and highly visible from the interchanges for I-95, Prince William Parkway, and Caton Hill Road that represent about $50 million in road improvements. Existing developments currently surround the area on all sides. To the south is the Potomac Mills Mall and associated retail development which draws over 14 million visitors per year. To the east is I-95, carrying over 195,000 vehicles per day, and to the north and west are residential areas with a highly-educated work force. The sector plan area is designated Regional Employment Center (REC) on the Long-Range Land Use Plan Map of the Comprehensive Plan. The REC designation allows for large-scale non-retail employment uses, such as office, lodging, and mixed-use developments. This designation is intended to be implemented by the O(H), Office High-rise; O(M), Office Mid-rise; O(F), Office Flex zoning districts, as well as two planned districts, PMD, Planned Mixed District, and PBD, Planned Business District. The O(F) and PBD districts allow some industrial uses.

REGIONAL EMPLOYMENT CENTER (REC)

The purpose of the Regional Employment Center classification is to provide for areas located close to and/or with good access from an interstate highway where intensive regional employment uses are to be located. REC projects should be planned and developed in a comprehensive, coordinated manner. Primary uses in the REC are mid-rise and/or high-rise office (including government offices particularly those for Prince William County agencies), research and development facilities, lodging, and mixed-use projects. Residential uses shall represent no greater than 25 percent of the total REC gross floor area of the project. Drive-in/drive-through uses are discouraged. Shared/structured parking is encouraged. The acceptable housing type within any mixed-use REC project is multifamily, at a density of 16-30 dwelling units per gross acre, less the ER designated portion of a property. Development in REC projects shall occur according to an infrastructure implementation plan submitted at the time of rezoning. The intent of this plan is to ensure that critical infrastructure for office, employment and lodging uses is developed adequately for each phase of the project. Development shall also occur according to a phasing plan that must ensure that office, employment, and lodging uses are always the primary uses within the area rezoned. Office development in REC areas is encouraged to be in accordance with the “Illustrative Guidelines for Office Development”, provided as a supplement to the Community Design Plan chapter of the Comprehensive Plan and available from the Planning Office. A minimum office building height of 4-6 stories is preferred.










703.339.0100

[email protected]


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PRINCE WILLIAM COUNTY 2008 COMPREHENSIVE PLAN, LONG RANGE LAND USE PLAN, PUBLISHED JANUARY 1, 2017




Disclaimer: We have in preparing this information, used our best endeavors to ensure that the information contained herein is true and accurate, and deemed to be a reliable reflection of market values or has been secured from sources we believe to be reliable, but we make no representation, guarantee or warranties, expressed or implied, as to the accuracy of the information complete, or reliable, current or error-free and assume no responsibility

for any errors or omissions contained therein. All references to age, square footage, income, and expenses are approximate. This is not a survey, any pictures, images, or drawings are only for illustrative purposes. Any party should conduct their own independent investigations and rely solely on those results. This is not intended as a listing solicitation for a property currently listed with another broker.



703.339.0100

[email protected]

Post Office Box 686 Springfield, Virginia 22150 P: 703.339.0100 F: 703.550.8815 www.r l t inc .net









703.339.0100

[email protected]


www.r l t inc .net



STATE & COUNTY INCENTIVES, ECONOMIC DEVELOPMENT INCENTIVES, BUSINESS EXPANSION & RELOCATION INCENTIVES, AND COMMERCIAL CONSTRUCTION & DEVELOPMENT INCENTIVES

PRINCE WILLIAM COUNTY INCENTIVES Tax Exempt Bond Financing: In some instances Prince William Co. and or the Commonwealth of Virginia will provide financial incentives to locate a facility, such as a manufacturing plant or an office building, in Prince William Co. And will periodically, make grants or loans to entities in Prince William Co.

Prince William County Economic Development Opportunity Fund (EDOF): Cash grant maintained by the Prince William Board of County Supervisors; Flexible fund for uses including infrastructure improvements, site preparation, work force services, and new capital equipment; Company commits to a capital investment and full-time jobs over a three-year period through a signed performance agreement with the Prince William County Industrial Development Authority; and EDOF grants are subject to recommendation by the Department of Economic Development and approval by the Board of County Supervisors.

Fast-Track Permitting for Targeted Projects: Reduced Site Fees (50% reduction in site fees available for eligible projects.); Fast-track permitting (Priority status ensures site plan and building plan reviews are expedited.); and Dedicated Project Manager (A project manager is assigned by development services to guide you through the County’s development processes and assist you with your project needs. More than simply a liaison or point-of-contact, your project manager integrates the efforts of your team and the County’s team with the shared goal of a successfully completed project.)

VIRGINIA STATE INCENTIVES Commonwealth’s Opportunity Fund (COF): The Commonwealth’s Opportunity Fund (COF) is a discretionary financial incentive established to support projects that create new jobs and investment in accordance with certain criteria established by state legislation. Grants made, may be used for such things as site acquisition and development; transportation access; public or private utility extension or capacity development; construction or build-out of publicly or privately owned buildings or training. Projects must meet investment, job creation, and wage minimums to be eligible. Matching local financial participation is required on a dollar-for-dollar basis (cash or in-kind). Public announcement of the project must be coordinated by the Virginia Economic Development Partnership and the Governor’s Office (neither the company nor the locality may publicly confirm the proposed project).

Virginia Jobs Investment Program (VJIP): The Virginia Jobs Investment Program (VJIP) provides services and funding to companies creating new jobs or experiencing technological change. As a business development incentive, VJIP reduces the human resource development costs of new and expanding companies. With strong support from Virginia’s Governor and General Assembly, VJIP is completely state-funded, demonstrating Virginia’s commitment to enhancing job opportunities for its citizens. Eligibility for assistance in any of the programs offered by VJIP is limited to projects that create basic employment for the Commonwealth of Virginia. Examples include: Manufacturing; Regional distribution centers; Regional shared service centers; Corporate HQ’s for companies with multiple facilities (HQ support positions only); Business-to-business information technology operations; or Research and Development Facilities.

Virginia Investment Partnership: The Virginia Investment Partnership (VIP) Grant is a discretionary performance incentive designed to encourage continued capital investment by Virginia companies, resulting in added capacity, modernization, increased productivity, or the creation, development, and utilization of advanced technology. The program is targeted at manufacturers or research and development services supporting manufacturing. A local match is required in an amount at least equal to 50 percent of the grant.










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STATE & COUNTY INCENTIVES, ECONOMIC DEVELOPMENT INCENTIVES, BUSINESS EXPANSION & RELOCATION INCENTIVES, AND COMMERCIAL CONSTRUCTION & DEVELOPMENT INCENTIVES (CONTINUED)

VIRGINIA STATE INCENTIVES (CONTINUED) Virginia New Jobs Program: The Virginia New Jobs Program is a vital part of Virginia’s economic development efforts. This program targets projects involving expansions of existing Virginia companies or new facility locations which involve competition with other states or countries. To qualify for assistance under the Virginia New Jobs Program, a company must be: Considering another state or country for the new location or expansion; Creating at least 25 net new full-time jobs within 12 months from the date of the first hire; Making a new capital investment of at least $1 million associated with the location or expansion; and Paying an entry-level wage rate of at least $9.79 per hour. In areas that have unemployment of one and a half times or more than the state level, this wage minimum may be waived.

The Transportation Partnership Opportunity Fund (TPOF): The Fund is to be used by the Governor to provide funds (grants, revolving loans, or other financing tools and equity contributions) to address the transportation aspects of economic development opportunities, including, but not limited to, the creation of jobs and to promote private investment for economic development projects that may result in the availability of the facilities in a timelier and/or less costly fashion. The financial assistance may be used for transportation capacity development, on and off site; road, rail, mass transit or other transportation access costs beyond the funding capability of existing programs; studies of transportation projects including but not limited to environmental analysis, geotechnical assessment, survey, design and engineering, advance right-of-way acquisition, traffic analysis, toll sensitivity studies, financial analysis, or any else permitted by law. Funds may be used for any transportation project or any transportation facility within Virginia.

Major Eligible Employer Grant: The Major Eligible Employer Grant (MEE) is a discretionary performance incentive designed to encourage significant capital investment and job creation by Virginia manufacturers and other basic employers. The program is targeted at major employers that make a minimum capital investment of $100 million and create at least 1,000 new jobs (a minimum of 400 jobs, if average pay is at least twice the area’s prevailing average wage). The time period between the completion of the project and payment of the first installment of the MEE grant is three years.

Economic Development Access Program: The Virginia Department of Transportation (VDOT) administers a program that assists localities in providing adequate road access to new and expanding manufacturing or processing companies, research and development facilities, distribution centers, regional service centers, corporate headquarters, or other basic employers. The program may be used to: Improve existing roads in the secondary highway system and city streets to handle additional traffic generated by either an industrial expansion or a new facility; Construct a new road from a publicly maintained road to the property line of the new eligible establishment

Governor’s Development Opportunity Fund Program: The Governor’s Development Opportunity Fund (GOF) provides either grants or loans to localities to assist in the creation of new jobs and capital investment in accordance with criteria established by legislation. Grants will not be made for projects which have been publicly announced prior to the Governor’s approval and public announcement of a grant award.

OTHER VIRGINIA STATE INCENTIVES INCLUDE: Virginia Enterprise Zone Program; The Virginia Small Business Financing Authority (VSBFA); Data Center Sales and Use Tax Exemption; Green Job Creation Tax Credit; Refundable Research And Development Tax Credit; Recycling Investment Tax Credit; Worker Retraining Tax Credit; and much more.










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Demographics

Population Prince William County’s population has grown steadily due to the combined effects of migrant growth as well as natural growth. The County is the second largest and fourth fastest growing county in the state of Virginia by population. In the ten-year period to 2010, the County’s population increased by 43% from 280,813 in 2000 to 402,002 in 2010. Moreover, continued growth is anticipated and the County’s population is expected to approach 660,000 residents by 2040. Recent estimates suggest that as of July 2013, the County was home to 438,580 residents.

Prince William County’s population is among the most rapidly growing in the region. Over the ten-year period 2000-2010, Prince William County population grew by 43% compared to the 18% in the Washington D.C Metro Area, 13% in the state of Virginia and 10% overall for the United States.

Racial and Ethnic Makeup Prince William County’s racially and ethnically diverse population makes it one of the most globally represented communities in the region, offering potential employers a range of skill sets including a multi-lingual labor force. According to national daily newspaper, USA Today, “Prince William County is at the leading edge of a diversity explosion that is currently sweeping the USA”. More than half of the County’s population is either African American, Hispanic, Asian or some other racial/ethnic background, which is substantially higher compared to the state of Virginia and United States. Prince William’s percentage of Hispanic population (the fastest growing population in the United States) is also higher at 22% compared to the state of Virginia and the nation. Multi-ethnic residents are helping boost the local economy by buying homes, opening businesses and supporting local enterprises. They enhance the historic richness of Prince William County by adding new languages, cultures, traditions and food.

Gender Diversity

Not only is Prince William County’s population racially and ethnically

diverse, it is also relatively evenly balanced along gender lines.










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Demographics – continued:

Multi-Lingual Society

A larger percentage of Prince William County’s population is

multi-lingual compared to the state of Virginia and the United

States. As the demand for multi-lingual employees continues to

rise, Prince William County offers a linguistically skilled

workforce that is better able to meet that demand and engage

effectively with the global community. Approximately 30% of the

County’s population speaks a second language – a higher

percentage compared to Virginia and the United States.

Age and Age Distribution

Prince William County’s population reflects a relatively young,

vibrant community. Its median age of 33.7 years is lower than that

of neighboring jurisdictions, the state of Virginia as well as the

United States.

More than half of the County’s population (between ages 25-64)

forms part of its current active labor force.

Moreover, Prince William’s County percentage of its population

65 and over is lower at 7% compared with 12% for the state of

Virginia and 13% for the entire United States.

The segment of Prince William County’s population which

comprises its “young professionals” and is indicative of its ability

to support future business and job creation i.e. ages 25-44, makes

up 31% of its population, a proportionately larger segment than the

state of Virginia and the United States.










703.339.0100

[email protected]


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EASE OF ACCESSIBILITY: Easy Access to Regional and Domestic Markets Being the main focal point of the Parkway Employment Center Sector and the main entrance into Prince William County, the property’s strategic location offers easy access to international, national and regional markets. By air, the property is primarily serviced by two major international airports and one regional airport: Dulles International Airport – the 3rd largest trans-Atlantic hub along the East Coast; Ronald Reagan Washington National Airport – the 25th busiest airport by passenger volume; and Manassas Regional Airport – the largest executive regional airport in Virginia. CSX and Norfolk Southern provide freight service to domestic and international port terminals. Lastly, Virginia Railway Express and Amtrak provide commuter and destination rail service to more than 500 stations in 45 states and the District of Columbia. The Site is connected: Adjacent to the property, the Prince William Parkway, which runs through the middle

of Prince William County, connects Interstate 66 (I-66) to Interstate 95 (I-95); Two main interstates – Connected by the Prince William Pkwy, I-66 runs east to west,

through the heart of Northern Virginia; and I-95 which runs north to south of theproperty, connecting the whole Eastern Seaboard;

Both I-66 and I-95 allow for overnight trucking capabilities to approximately 56% of theU.S. population;

Journey-to-work time is significantly reduced with the ability to reverse commute along the I-95and I-66 corridors, and utilizing the High Occupancy Vehicle (HOV) lanes;

Prince William County provides access to an outstanding talent pool of highly-skilled, culturally-diverse labor; 41% of the workforce has college degrees; and

75% of Northern Virginia’s 1.1 million workers live within a 30 minute one-way commute to the centerof Prince William County during rush hour.



Documents

LAND FOR SALE: POTOMAC MILLS VICINITY Mixed …images3.loopnet.com/d2/hl4_ebUGBkhZi_OrYdJPwWvD0mS-6Ui3cDw… · to qualify to drive in the I-95 HOV (high occupancy vehicle) ... The