Skip to main content

Office

Judicial Center Office Building

10505 Judicial Dr, Fairfax, VA 22030

Listing Price: Request For Offer

Gross SF
34,365
Rentable SF
34,365
Lot Size
0.98 acres
Year Built
1980

Investment Overview

Marcus & Millichap, on behalf of ownership, is pleased to exclusively offer Judicial Center Office Building located at 10505 Judicial Drive in Fairfax, Virginia (the “Property”). Located in Fairfax City, at the heart of Fairfax County, the property is just outside Washington, DC and in the third wealthiest county in the nation with a population of over one million residents. Adjacent to the Fairfax County Judicial Center and Courthouse, the Judicial Center Office Building represents an outstanding stable office acquisition opportunity at a favorable basis relative to replacement cost within close proximity to permanent demand drivers and outstanding access to Route 123 and Interstate 66. The Property was developed in 1980, renovated in 1999 and again during the last year, to cater to the needs of lawyers, title companies and small businesses, and as a result has excellent physical attributes and appealing tenant amenities. In an effort to modernize the building, the current owner has thoughtfully invested several hundred thousand dollars in building superior finishes, adding parking lot security, redoing the entire landscaping and adding an outdoor meeting area. He also completely remodeled the interior lobby, and is currently finishing construction on a new penthouse coffee/lounge area for the tenants, which will be a delightful building amenity to serve current tenants and attract new ones. The end result is best in-class office space. The four-story structure is constructed with 10’ finished ceiling heights on the first floor, 9’+ ceiling heights on the second and third floors and 8.5’ ceiling height on the top floor. The Property features an upgraded elevator, upgraded hallways and amenities, and offers its tenancy an abundant 3.25 per one thousand rentable-square-foot parking ratio. The asset offers tenants and visitors alike an extremely convenient mix of essential retailers and services in one of the richest and most dense amenity bases in the Washington, DC Metropolitan area. The Property also benefits from its access to Route 123, Route 236, Route 50 and Interstate 66 (I-66), the region’s primary east-west highway, as many of the tenants need to travel to multiple locations within the Washington, DC Metropolitan area. These critical attributes and a dearth of truly competitive assets have combined to generate continued occupancy and high renewal probability for its tenancy. Judicial Center Office Building represents a great investment opportunity for a new owner to acquire the Property at a favorable basis and feel confident in the ability to operate the Property and generate upside through leasing the vacant suites, contractual rent increases and rolling current leases to higher market rents upon expiration.

Investment Highlights

  • Major Capital Improvements - The current owner has spent $2,400,000 extensively upgrading and remodeling the interior and exterior of the Property since 2013.
  • Perpetual Demand Drivers - The Property is across the street from the Fairfax County Judicial Center and Courthouse, which is essential for the law firms and many of the tenants in the building.
  • Strong, Stabilized Cash Flow - The Property is 78% leased to nine quality tenants with 3.4 years of WALT. Stewart Title, the largest tenant (28% of RBA) recently renewed for five more years.

Exclusively Listed By

Broker of Record

  • Brian Hosey

    First Vice President / District Manager

    (202) 536-3700

    License(s) VA: 0225247494

    Virginia

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

Office

Judicial Center Office Building

Listing Price: Request For Offer

Gross SF
34,365
Rentable SF
34,365
Lot Size
0.98 acres
Year Built
1980

Investment Highlights

  • Major Capital Improvements - The current owner has spent $2,400,000 extensively upgrading and remodeling the interior and exterior of the Property since 2013.
  • Perpetual Demand Drivers - The Property is across the street from the Fairfax County Judicial Center and Courthouse, which is essential for the law firms and many of the tenants in the building.
  • Strong, Stabilized Cash Flow - The Property is 78% leased to nine quality tenants with 3.4 years of WALT. Stewart Title, the largest tenant (28% of RBA) recently renewed for five more years.

Investment Overview

Marcus & Millichap, on behalf of ownership, is pleased to exclusively offer Judicial Center Office Building located at 10505 Judicial Drive in Fairfax, Virginia (the “Property”). Located in Fairfax City, at the heart of Fairfax County, the property is just outside Washington, DC and in the third wealthiest county in the nation with a population of over one million residents. Adjacent to the Fairfax County Judicial Center and Courthouse, the Judicial Center Office Building represents an outstanding stable office acquisition opportunity at a favorable basis relative to replacement cost within close proximity to permanent demand drivers and outstanding access to Route 123 and Interstate 66. The Property was developed in 1980, renovated in 1999 and again during the last year, to cater to the needs of lawyers, title companies and small businesses, and as a result has excellent physical attributes and appealing tenant amenities. In an effort to modernize the building, the current owner has thoughtfully invested several hundred thousand dollars in building superior finishes, adding parking lot security, redoing the entire landscaping and adding an outdoor meeting area. He also completely remodeled the interior lobby, and is currently finishing construction on a new penthouse coffee/lounge area for the tenants, which will be a delightful building amenity to serve current tenants and attract new ones. The end result is best in-class office space. The four-story structure is constructed with 10’ finished ceiling heights on the first floor, 9’+ ceiling heights on the second and third floors and 8.5’ ceiling height on the top floor. The Property features an upgraded elevator, upgraded hallways and amenities, and offers its tenancy an abundant 3.25 per one thousand rentable-square-foot parking ratio. The asset offers tenants and visitors alike an extremely convenient mix of essential retailers and services in one of the richest and most dense amenity bases in the Washington, DC Metropolitan area. The Property also benefits from its access to Route 123, Route 236, Route 50 and Interstate 66 (I-66), the region’s primary east-west highway, as many of the tenants need to travel to multiple locations within the Washington, DC Metropolitan area. These critical attributes and a dearth of truly competitive assets have combined to generate continued occupancy and high renewal probability for its tenancy. Judicial Center Office Building represents a great investment opportunity for a new owner to acquire the Property at a favorable basis and feel confident in the ability to operate the Property and generate upside through leasing the vacant suites, contractual rent increases and rolling current leases to higher market rents upon expiration.

Exclusively Listed By

Broker of Record

  • Brian Hosey

    First Vice President / District Manager

    (202) 536-3700

    License(s): VA: 0225247494

    Virginia

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

MM Texture Background
MM Textured Background Lower