93% Government-Leased Office Building

Highlights:

• HIGH OCCUPANCY: 93% leased, with 100% historic occupancy
• STRONG TENANCY: Stable, long-term government tenants - State of Maryland and Prince George’s County, both of which have a AAA Credit Rating
• STRATEGIC LOCATION: Located in the heart of a growing government corridor, major government HQ's nearby, and significant planned government development underway
• MILITARY BASE ADJACENT: Located near Joint Base Andrews, a major local economic driver and military hub for the region
• TRANSIT-ORIENTED: Multiple DC Metro stations nearby and adjacent to the Capital Beltway (I-495)
• AMENITY-RICH: Close to many established and newly built amenity centers - adjacent to Marlow Heights Shopping Center and the planned Iverson Mall renovation, and convenient to the Town Center at Camp Springs, Restaurant Row Apollo, National Harbor, Ritchie Station Marketplace, and the Anacostia Waterfront

Description:

THE OPPORTUNITY
NAI Michael is proud to present to qualified investors the Scuderi Building, a 93% leased government office building at 4235 28th Avenue, Temple Hills, Maryland. This disposition offers a unique opportunity to acquire a stabilized, well-leased, and strategically located property in the government hub of the Washington DC / Maryland region. The building’s stability is highlighted by a recently renewed 73,132 net square foot lease with the State of Maryland, running through 2034. The surrounding area boasts multiple DC Metro stations and many major government office buildings, including the current headquarters for the US Census Bureau, headquarters for the US Citizenship and Immigration Services, and the future headquarters for the Department of Homeland Security’s Cybersecurity and Infrastructure Security Agency at St. Elizabeth’s West Campus.

STABLE TENANCY
Currently, the Scuderi Building is 93% leased to the State of Maryland and Prince George’s County, both of which have a AAA Credit Rating. The State of Maryland lease has recently been extended and renewed for 10 years, with over 87% of the building in long-term lease to the Maryland Department of Human Services, expiring in 2034. In addition, the Prince George’s County Office of the Sheriff has been a tenant for over 20 years. These occupants have found this location to be ideal for their needs, and have demonstrated this by maintaining steady occupancy long-term. The tenant make-up is 100% steady government users, offering a prospective purchaser the highest level of confidence and reassurance.

The Scuderi Building is strategically located within a hub of government buildings. Notably, less than one mile north is the Suitland Metro Station and the Suitland Federal Center, which is home to the US Census Bureau headquarters, the National Archives, the National Maritime Intelligence Center, and US Department of Commerce. Less than 1.5 miles to the east is Branch Avenue Metro Center and One Capital Gateway, which is home to the newly consolidated US Citizenship and Immigration Services Headquarters.  Beyond this is the Capital Beltway (I-495) and the main gate for Join Base Andrews, also known as the Military's premiere joint base, home of the 316th Wing and Air Force One.  Andrews is one of the largest bases in the region, home to Air Force, Army, Navy, and Marine Units, and hosting more than 20,000 active-duty military personnel. To the west, less than 2.5 miles from the Scuderi Building is the historic and storied St. Elizabeth's West Campus, which is currently undergoing on the most important government focused redevelopments in the region and will soon be home to the Department of Homeland Security’s new Cybersecurity and Infrastructure Security Agency.  The Federal government recently invested more than $500 million in construction for this area, which will be the largest federal construction project since the Pentagon.

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