6849 Old Dominion Drive
The property was acquired off market from a major institutional owner who was right sizing its portfolio. The property is located in the heart of the retail and office corridor of McLean, VA one of the most affluent communities in Northern Virginia. The asset works exceptionally well in its current configuration as a renovated office building but has significant upside through a future conversion to a dense urban mixed use project.
- Off-market acquisition from JBG Smith a REIT that was shedding Non-Core Assets.
- A boutique office building in affluent, amenity-rich submarket of Northern Virginia adjacent to 1420 Beverly Road also owned by SIP.
- Leased approximately 15% of the building to Johns Hopkins Medicine for its first Northern, VA location.
- Tenancy is currently 60% medical, 40% non-medical.
- Staggered rollover allows for orderly transition to full medical over the near term.