Jones Street Office Bldg 10505 Judicial Dr

Legat Commercial Real Estate, as the exclusive representative for the owner, is pleased to present for sale the 100% fee simple interest in Judicial Center Office Building, located at 10505 Judicial Drive in Fairfax, Virginia , a 34,356 SF office building , situated on .98 acres of land the “Property”). This value add opportunity will trade substantially below replacement cost, providing a buyer a strong in place yield with upside. Currently the Property is approximately 74 % leased to 9 tenants with an average lease term of 4 years and an average in place rent of 2 6 PSF. In addition to having secure in place cash flow, this opportunity provides an owner user to take advantage of the in place tenancy and significantly offset the cost of occupancy. There is additional upside through the lease up of the surplus vacant suites and future rent growth. Furthermore, future capital needs are limited due to a long history of proactive maintenance and the near turn key condition of the majority of the vacant suites.
The building is located at the geographic center of Fairfax County, Virginia near the crossroads of I 66 and Route 50 Northern Virginia’s primary east west highways. It is located adjacent to the Fairfax County Courthouse and is in close proximity to the Fairfax County Governmental Center George Mason University and Fairfax City Hal as well as the 1,565,000 SF Fair Oaks Regional Mall, Inova Fair Oaks Hospital and amidst a mature 14 million SF office submarket (CoStar office submarkets: Fairfax Center, Oakton, and Fairfax City). Judicial Office Building offers investors the opportunity to invest in a stable, cash flowing, readily financeable property acquired well below replacement value. Judicial Center is well positioned to take advantage of rising rents anticipated from the tightening Northern Virginia office market during a prolonged economic recovery resulting from the end of the Covid 19 pandemic.