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Jones Lang LaSalle Americas, Inc. (“JLL”), as exclusive representative for the Owner, is pleased to present this offering for 950 South Pickett Street, “The Property”, is a rare urban infill, last mile warehouse comprised of approximately 101,753 square feet in Alexandria, Virginia. 950 South Pickett is located inside the Capital Beltway in one of Northern Virginia’s innermost industrial submarkets and offers exceptional accessibility throughout the Washington, DC Metro area. The Property features 18' - 24' ceilings, dock and drive-in loading and approximately 7,500 square foot office buildout, is ideal for a single-tenant occupier co-locating its main office and distribution functions.
950 South Pickett is 100% leased to Victory Van Corporation through December of 2029, with in-place rent approximately 35% below market, and a landlord termination option with 12 months' notice to the tenant. This offers investors a rare opportunity to take advantage of strong market fundamentals to re-stabilize the asset at a significantly higher NOI, in one of the Washington, DC area’s most land constrained industrial submarkets.
- In-place lease is 35% below market rent with landlord termination rights, enabling repositioning to capture near term upside.
- Flexible I-1 zoning enables last-mile distribution uses + future industrial or mixed-use development
- Last mile location provides access to unmatched demographic pool
- 18'-24' clear heights with dock and drive-in loading
- Unmatched industrial submarket fundamentals
- Land constrained market with depleting industrial inventory
- Metro accessible (Van Dorn Street Station - Blue Line)
- Inside the beltway location with superior transportation access via I-495 / I-95 & I-395
- Immediate proximity to the Pentagon, Fort Belvoir and US Capitol