confidential offering memorandum 1530 › d2 › f2jp75mgb17ydlhurbvrxbluy0a… · prime...
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CAPITAL MARKETS GROUP
EXCLUSIVE OFFERINGMETRO ORIENTED – WASHINGTON, D.C. REGION / MONTGOMERY COUNTY
OPPORTUNITY ZONE INVESTMENT OPPORTUNITY
1530E. Jefferson StreetR O C K V I L L E , M A R Y L A N D
CONFIDENTIAL OFFERING MEMORANDUM
1530 EAST JEFFERSON STREET, ROCKVILLE, MARYLAND
Immediate Development Opportunity at a Metro-oriented site in an amenity rich location in the heart of the Rockville Pike Corridor. 1530 East Jefferson Street is currently a 100% vacant office/laboratory building situated on .64 acres (27,843 SF). Zoned MXCT by the City of Rockville, the site is designated for higher density mixed-use development with a 75’ height limit and by-right uses including multi-family, live/work, and senior living. A preliminary study of the site for senior housing was performed by DVA Architects and yielded approximately 120,190 SF with a 18,880 SF first floor podium level and a six floors above at 16,885 SF.
Prime Opportunity Zone Investment - The site falls within one of the most desirable opportunity zone investment areas in Washington, DC Region and the United States. This opportunity zone designated area along Rockville Pike between the Twinbrook and Rockville Metro Stations is already established as one of the most affluent and educated population centers in the country with exponential growth potential. According to the City of Rockville’s Master Plan, this area of Rockville Pike will experience in excess of 300% increase in population growth over the next 20 years. The Plan further identifies the South Pike plan area, which includes 1530 East Jefferson Street, as having “the greatest potential to receive the bulk of the population growth within the corridor, as well as a significant portion of the City’s population growth, over the next few decades…and transforming from a commercial suburban development pattern into an urban center”.
Thriving, Dynamic Local and Regional Economy, Poised for Growth in All Sectors In 2018, the Washington, D.C. Metro marked the fourth consecutive year of 50,000-plus job gains and landed Amazon’s HQ2 which highlight the broader trend in the D.C area of private sector diversification with the technology sector driving job growth. In addition to the major presence of Federal Government agencies such as U.S. Nuclear Regulatory Commission, Health & Human Services, and National Institute for Allergy and Infection Diseases, the local economic engine in Rockville and Montgomery County employs nearly 20,000 biotech workers and is a national hub for bio technology and life sciences. The City of Rockville is within a few minutes drive or Metro ride of 18 federal agencies including NIH, FDA, and NIST and consistently rated as one of the most educated and desirable places to live and work the United States.
EXECUTIVE SUMMARY
ROCKVILLE MULTI-FAMILY MARKET SNAPSHOT
The Rockville submarket benefits from a large concentration of companies in the STEM industries - science, technology, engineering, and mathematics. Redevelopment efforts at Twinbrook, Rockville, and White Flint Metro Stations have transformed industrial areas into vibrant live/work/play centers that millennials and empty nesters alike.
MONTGOMERY COUNTY SENIOR LIVING MARKET SNAPSHOT Montgomery County’s need for senior housing is significant as the aging Baby Boom population broadens the county’s base of 55 and older. The county projects its older adult population to increase almost 40% from 281,383 to 390,883 by 2040, while the overall population is only projected to rise by 15% over the same period. As the demand for housing rises, developers expect Boomer’s will prioritize access to public transportation, amenities, and cultural entertainment. 1530 East Jefferson perfectly aligns with this trend as it is adjacent to Woodmont Country Club and Congressional Plaza, minutes to Twinbrook Metro, Music and Arts Center at Strathmore, Pike & Rose, and Downtown Washington, D.C.
9,741UNITS
2.20%YOY RENT GROWTH
1,271UNITS U/C
540UNITS U/C
300FACILITIES
88.60%OCCUPIED
8 | EDGE CAPITAL MARKETS GROUP • 1530 E. JEFFERSON STREET
I N V E S T M E N T H I G H L I G H T S
Tuckerman Ln
Seven Locks Rd
Baltimore Rd
Montrose Rd
Twin
broo
k Pk
wy
Norbeck Rd
Wootton Pkwy
E Je�erson St
Edson Ln
Hurley A
ve
N H
orners Ln
E Gude Dr
Montrose Pkwy
Montrose Rd
Old
Geo
rget
own
Rd
Randolph Rd
Veirs Mill RdMaryland Ave
W Montgomery Ave
Washington National Pike
Rockville Pike
WoodmontCountry Club
Cabin JohnRegional Park
270
270
355
187
586
TWINBROOKSTATION
WHITEFLINTSTATION
GARRETTPARK STATION
ROCKVILLESTATION
TWINBROOK QUARTER FUTURE MIXED-USE
DEVELOPMENT INCLUDING
MONTROSECROSSING
WHITE FLINTREDEVELOPMENT
TWINBROOK CENTER
FEDERALPLAZA
FEDERAL AGENCIES
1530E. Jefferson Street
CONGRESSIONAL PLAZA
U.S. Nuclear Regulatory Commission HQ
EDGE CAPITAL MARKETS GROUP • 1530 E. JEFFERSON STREET | 9
I N V E S T M E N T H I G H L I G H T S
ROCKVILLE PIKE
E. JEFFERSON STREET
CONGRESSIONAL LANE
WoodmontCountry Club
1530E Jefferson Street
Congressional Plaza
Congressional Towers Apartments
White Flint Mall Redevelopment
LCOR - Arrowwood Apartment Under Construction
1900 Chapman Avenue
White FlintMetro
TwinbrookMetro
Twinbrook Station - JBG & Avalon Bay Multi-Family Developments(6,000 Employees)
U.S. Nuclear Regulatory Commission HQ
Twinbrook Quarter Future Mixed-Use Development Including
Federal Plaza Shopping Center
Montrose Crossing Shopping Center
1530 E JEFFERSON STREET | ROCKVILLE, MARYLAND | 3
Conceptual development overlay provided by
10 | EDGE CAPITAL MARKETS GROUP • 1530 E. JEFFERSON STREET
I N V E S T M E N T H I G H L I G H T S
Artist Rendering Provided by DVA Architects
120,190 SF – Senior Housing Concept
EDGE CAPITAL MARKETS GROUP • 1530 E. JEFFERSON STREET | 11
I N V E S T M E N T H I G H L I G H T S
Architectural Drawing Floorplan
199'
172'
15'
10'5'
10'
5'8'
7'4'
152'
CONGRESSIONAL PLAZA
EAST JEFFERSON STREET
PLAZA OVERFIRST FLOOR
DROP OFF AREA
BLDG ENTRYGARAGE ENTRY
EXIS
TING
SUR
FAC
E LO
T
EXISTING 2STORY OFFICEBLDG
PUBL
IC U
SE S
PAC
E
PEDESTRIAN ZONE
AMENITY ZONE
150'
TAKING
1" = 20'
Drawing provided by
12 | EDGE CAPITAL MARKETS GROUP • 1530 E. JEFFERSON STREET
P R O P E R T Y O V E R V I E W