NNN Office Condo For Sale

8/3/2019 NNN Office Condo For Sale

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COMPANIES, INC.

CALKAIN REALTY ADVISORS

O F F E R I N G M E M O R A N D U M - N N N O f f i c e C o n d o

CA LKA IN COM PA NIES

WASHINGTON DC | FLORIDA | MA

C O N T A C T

EXCLUSIVE LISTING

EOIR Technologies, Inc. | Lorton, VA

Licensed Real Estate Broker

YOuR SOuRCE FOR INVESTMENT REAL ESTATE

ANDREW FALLONINVESTMENT SALES & RE-

SEARCH A NALYST

(703) 787-4714 [email protected]

GERALD E. BURGMANAGING DIRECTOR

(703) 787-4714 [email protected]

L e a s e d t o :


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O f f e r i n g M e m o r a n d u m

The information contained in the following Investment Prospects is pro-

prietary and strictly condential. It is intended to be reviewed only by the

party receiving it from Calkain Companies, Inc. and its sbsidiaries, and

shold not be made available to any other person or entity withot the

written consent of Calkain Companies, Inc. This offering memorandmhas been prepared to provide smmary, nveried information to pro-

spective prchasers, and to establish only a preliminary level of interest

in the sbject property(s). The information contained herein is not a sb-

stitte for a thorogh de diligence investigation. Calkain Companies, Inc.

and its sbsidiaries have not made any investigation, and make no warranty

or representation, with respect to the income or expenses for the sb-

ject property(s), the ftre projected nancial performance of the prop-

erty, the size and sqare footage of the property(s) and improvements,

the presence or absence of contaminating sbstances, PCBs or asbestos,

the compliance with State and Federal reglations, the physical condition

of the improvements thereon, or the nancial condition or bsiness pros-

pects of any tenant, or any tenants plans or intentions to contine its

occpancy of the sbject property(s). The information contained in this

Investment Prospects has been obtained from sorces we believe to be

reliable; however neither Calkain Companies, Inc. and its sbsidiaries nor

the Seller have veried, and will not verify, any of the information contained

herein, nor has Calkain Companies, Inc. and its sbsidiaries or the Seller

condcted any investigation regarding these matters and make no warran-

ty or representation whatsoever regarding the accracy or completeness

of the information provided. All potential byers mst take appropriate

measres to verify all of the information set forth herein.

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Price $1,236,900 | CAP Rate 8.00%

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R E N T S C h E d u L E

Term Annal Increases Annal Rent Monthly Rent Per sf

Jly 27, 2010 3% $98,952 $8,246 $26.78

Jly 27, 2011 3% $101,921 $8,493 $27.58

Jly 27, 2012 3% $104,978 $8,748 $28.41

Jly 27, 2013 3% $108,128 $9,011 $29.26

Jly 27, 2014 3% $111,371 $9,281 $30.14

Jly 27, 2015 3% $114,713 $9,559 $31.05

h I g h L I g h T S

NNN ofce condo, with stable government contracting tenant 3% Annal rent escalations

Newly constrcted condo is part of 46,786 SF Class A professional center Located within Lorton Station Town Center, a 95,000 SF commnity shopping center Easy access to I-95 and Rote 1, adjacent to VRE Station and mintes from INOVA Lorton Healthplex, Potomac

Hospital and Fort Belvoir

Desirable Washington DC sbrb with strong demographics

Signicant poplation and hosehold growth within 5-mile radis of sbject property

NOI $98,952

Rent/Month $8,246

Rent/SF $26.78

Rentable SF 3,695

Proportionate Share 8.69%

Tenant Name EOIR Technologies, Inc.

Garantor Corporate

Website www.eoir.com

Delivery Date of Bilding 2009

Developer Rockledge Realty Partners

Lease Strctre NNN - Tenant reimbrses

all condo fees and expenses

Lease Term 7 Years

Lease Commencement Febrary, 2009

Rent Commencement Jly 27, 2009

Lease Expiration Jly 31, 2016

Increases 3% Annal

Options One (1), Five (5) Year

Tenant Improvements $187,800

Tenant Improvements/SF $51.00 PSF

Secrity Deposit $8,006

9010 Lor ton Sta tion Bol evard | Lor ton, VA 22079


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EOIR Technologies Inc.

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AbOuT ThE COMPANy

EOIR Technologies is a fll service technical services company providing system design and development, systems in-

tegration, program management, intelligence soltions, and technical training for a range of military and intelligence

agencies. Since its inception in 1981, EOIR has been focsed on delivering innovative soltions to the defense and

military commnities, ensring that the united States is the most technically sophisticated military and intelligence

organization in the world. From researching and discovering new technologies, to developing prototypes of sensor

systems, to training personnel how to operate state-of-the-art eqipment, EOIR plays a key role in the activities of

the united States military.

EOIR specializes in research, development and engineering services in the areas of sensor science, inclding electro-

optical/infrared night vision devices, advanced remote sensing applications, and specialized chemical detection sys-

tems. With a growing worldwide presence, EOIR contines to deliver proven reslts by serving the u.S. government,

military, and homeland defense commnities with the highest professional standards. Crrently, EOIR has major

contracts with the General Services Administration (GSA), the uS Navy and the Marine Corps. For more informa-

tion, visit www.eoir.com.

EOIR Technologies is a private company, that is a wholly-owned sbsidiary of the private eqity rm White OakGrop. White Oak acqired EOIR at the end of 2007. EOIR has approximately 225 employees throghot its seven

ofce locations, which are primarily located in the Mid-Atlantic.

AbOuT FORT bELvOIR MILITARy bASE

EOIR has strategically located itself within 5-miles of the u.S. military base Fort Belvoir, where EOIR staffs more

than 50 eld agents. The EOIR ofce in the Lorton Station Town Center directly spports the eld agents serving

Fort Belvoir. As a reslt of the 2005 Base Realignment and Closre Commission (BRAC), Fort Belvoir is expected

to have a sbstantial increase in the nmber of people stationed or employed there, and EOIR shold be a direct

beneciary of the location and strong BRAC initiative.

Fort Belvoir serves as the headqarters for the Defense Logistics Agency, the Defense Acqisition university, the

Defense Contract Adit Agency, the Defense Technical Information Center, the u.S. Army Criminal Investigation

Command, and the united States Army Intelligence and Secrity Command, and the Defense Threat Redction

Agency, all agencies of the united States Department of Defense.

Fort Belvoir is home to the united States Army Materiel Command and elements of ten other Army major com-

mands; nineteen different agencies and direct reporting nits of the Department of Army; eight elements of the

united States Army Reserve and the Army National Gard; and twenty-six Department of Defense agencies. Also

located here are the 249th Engineer Battalion (Prime Power), the united States Army Prime Power School, a Marine

Corps detachment, a united States Air Force activity, united States Army Adit Agency, and an agency from the

Department of the Treasry.


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9010 Lorton Staon Boulevard | Lorton, VA 22079

195

LORTON MARKET

guNSTON PLAzA

PLANNEd INOvA

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LORTON Rd.

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LORTON STATION

ELEMENTARY SCHOOL

95

FORT bELvOIRMILITARy b ASE


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LOCATION SuMMARy

Lorton is a sbrban commnity located in Fairfax Conty, Virginia. Sitated less than 20 miles from Washington DC,Lortons sbdivisions, shopping centers, and medical ofces serve residents who work in and arond the greater Wash-

ington DC Metro Area. Fairfax Conty is the most poplos jrisdiction in the Commonwealth of Virginia, and the most

poplos jrisdiction in the Washington Metro Area. The economy of Fairfax Conty, which inclde Lorton, is a robst

service economy with the highest median hosehold incomes of any jrisdiction in the united States. Many residents

work for the government or for federal government contractors.

Lorton Professional Center (sbject property) is conveniently located within Lorton Station Town Center, a 95,000

SF commnity shopping center serving the 300 acre master-planned Lorton Station neighborhood. Easy access to

I-95 and Rote 1.

Lorton Station Town Center is located adjacent to Lorton VRE Station, within a mile of proposed INOVA LortonHealthplex, and mintes from Potomac Hospital and Fort Belvoir.


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Lorton Staon Town Center | Overview

The Lorton Station Town Center is a mixed-se

development featring ofce and retail space as

well as a 251-nit residential bilding. The Lorton

Professional Center is the focal point of Lorton

Station Town Center, which featres medical ofce,

general ofce, and retail space for service provid-

ers. Aside from EOIR Technologies, the owner-oc-

cpants of the Lorton Professional Center inclde:

AllPeds, Destination Smile (pediatric dentistry),

Lorton Town Dental, Lorton Oral Srgery, Walsh

Dental Care, State Farm Insrance, and CMS Glob-

al Software,.

The retail portion of the Lorton Station Town

Center is owned and managed by Regency Cen-

ters. Retailers inclde: RE/MAX 100, Pane E Vino,

Pro-Nail, Dry Cleaners, Daily Grind, Sbway, My

Cell, Salon Prive, Fireside Grill, Crves for Women,

Corner Cisine, Vocellis Pizza, Pitt Street Associ-

ates, LLC, Dr. Dao Ngyen DDS, AllState Insrance,

FedEx Kinkos, and Wachovia Bank.

LORTON STATION TOwN CENTER & LORTON PROFESSIONAL CENTER


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FIRST FLOOR

SECONd FLOOR


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Radius | 3 Mile | 5 Mile | 10 Mile

M A R K E T O v E R v I E w There are crrently 56,863 hoseholds within a 5 mile radis of the Lorton Professional Center. The hosehold

cont in this market area has changed from 50,311 in 2000 to 56,863 crrently, a 13% change.

The crrent year poplation within a 5 mile radis of Lorton Professional Center is 160,633 and the poplation isprojected to grow to 167,047 by the year 2014.

Crrent average hosehold income is $118,686 within a 5 mile radis of Lorton Professional Center. It is projectedto be $145,931 in ve years, compared to $76,366 in the year 2000.


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2 0 0 9 P O P u L AT I O N

Total Poplation 49,221 160,633 739,109Male Poplation 49.0% 49.0% 49.0%

Female Poplation 51.0% 51.0% 51.0%

Median Age 36.4 36.7 37.2

2 0 0 9 I N C O M EMedian HH Income $99,730 $101,062 $92,297

Per Capita Income $42,015 $41,984 $40,622

Average HH Income $117,759 $118,686 $110,757

2 0 0 9 h O u S E h O L d STotal Hoseholds 17,531 56,863 270,273

Average Hosehold Size 2.80 2.81 2.72

2 0 0 9 h O u S I N gOwner Occpied Hosing units 67.9% 64.9% 62.1%

Renter Occpied Hosing units 26.8% 29.5% 32.7%

Vacant Hosing units 5.3% 5.6% 5.2%

P O P u L A T I O N1990 Poplation 38,296 124,653 600,359

2000 Poplation 42,672 146,552 682,693

2009 Poplation 49,221 160,633 739,109

2014 Poplation 51,724 167,047 761,646

1990-2000 Annal Rate 1.09% 1.63% 1.29%

2000-2009 Annal Rate 1.56% 1% 0.86%

2009-2014 Annal Rate 1% 0.79% 0.6%

h O u S E h O L d S1990 Hoseholds 11,265 39,523 214,340

2000 Hoseholds 14,028 50,311 248,423

2009 Hoseholds 17,531 56,863 270,273

2014 Hoseholds 18,496 59,339 278,567

1990-2000 Annal Rate 2.22% 2.44% 1.49%

2000-2009 Annal Rate 2.44% 1.33% 0.92%

2009-2014 Annal Rate 1.08% 0.86% 0.61%

M E d I A N h O u S E h O L d I N C O M E1990 Median HH Income $55,656 $55,747 $53,390

2000 Median HH Income $72,770 $74,798 $69,486

2009 Median HH Income $99,730 $101,062 $92,297

2014 Median HH Income $101,722 $103,292 $96,149

1990-2000 Annal Rate 2.72% 2.98% 2.67%

2000-2009 Annal Rate 3.47% 3.31% 3.12%

2009-2014 Annal Rate 0.4% 0.44% 0.82%

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Radius | 3 Mile | 5 Mile | 10 Mile


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GERALD E. BURG

MANAGING DIRECTOR

(703) 787-4714

[email protected]

ANDREW FALLON

INVESTMENT SALES & RESEARCH ANALYSIS

(703) 787-4714

[email protected]

Con

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|About

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Contact | About Us

C O M PA N y O v E Rv I E wCalkain Companies, Inc. is a national, commer-

cial real estate firm, focsing on net lease invest-

ments, that provides brokerage and conslting

services for both private and instittional cli-entele. The Company is comprised of for dis-

tinct divisions, Calkain Realty Advisors, Calkain

Instittional Advisors, Calkain Opportnity Ser-

vices and Calkain Si te Servi ces. We have tilized

an extended network of solid relationships to

sccessflly complete nearly $3 billion in sales

and have consistently ranked as one of the Top

National Net Lease Investment Brokerage Firms.

Core vales sch as integrity, honesty and innovation have helped secre or position as a leader within

the net lease indstry.

O u R h I S T O RySince opening its fi rst office in Reston, VA (a Washington, DC sbrb), Calkain is now ranked as one of the

top Net Lease Investment Brokerage firms, Calkain has watched its clientele grow exponentially by st aying

tre to its fndamentals; integrity, honesty, and innovation.

In 2005, the ever-expanding marketplace for commercial investment real estate allowed Calkain to divide

its services into two divisions; Calkain Realty Advisors and Calkain Instittional Advisors, each providing

tailored services that exceed client expectations. In November 2006, Calkain designed the ltimate real

estate evalation tool, Calkain Site Servi ces. This division tilizes trained indstry professional s to examine

commercial investment property nationwide, providing clients with an in -depth review of all characteristics

of any given property and its srronding market. In December 2008, throgh the rging of many of its net

lease clients, Calkain initiated Calkain Opportnity Services. Assisting net lease properties owners in chal-

lenging sitations.

Calkain has developed a cl tre that is very mch evident, helping to attract and retain the best employees

and clients. The general commitment to its clients has made Calkain the indstry benchmark for service in

the net lease indstry. By promoting pbli c service and philanthropy to its employees, Calkain demonstrates

its commitment to commnities and the isses that srrond them.

C O N TA C T A b R O K E R :

C A L K A I N C O M P A N I E S , I N C .

W A S H I N G T O N D C | F L O R I D A | M A R Y L A N D

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NNN Office Condo For Sale