5510 Cherokee Ave, Alexandria, VA 22312

Legat Commercial Real Estate, LLC., as the exclusive representative for the owner, is pleased to present for sale the 100% fee simple interest in Cherokee Business Center II, a 54,453 SF office building located at 5510 Cherokee Avenue in Alexandria, Fairfax County, Virginia (the “Property”). This stable investment has several new long-term tenants in place and will provide the investor with strong in-place yield with upside as the rents escalate.

Currently, the Property is approximately 96.7% leased to 9 tenants with an average lease term of 9+ years and an average in-place rent of approximately $23 PSF. The ownership recently completed two brand new 15-year leases, one with a daycare, Little River Day School, on the first floor and the other with the GSA to serve the Social Security Administration on the second floor of the building. The lease with Little River Day School will provide the area with much-needed child-care services and will serve as a great amenity for the building as office workers may desire to bring their children to work with them.

This lease with the US Government provides the building with a core tenant that provides long term stability and unbeatable tenant creditworthiness. Another relevant byproduct of the GSA lease is the commitment of the current ownership to upgrade the building to meet certain energy efficiency standards such as switching to LED lighting fixtures.

The ownership also recently leased 14,633 SF on the third floor to an executive suite concept, Perfect Office Solutions. This executive suite concept will provide a stable long-term tenancy as well as a “feeder system” of small tenants that may “graduate” to needing larger traditional office suites in the building.

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 interior suite buildouts. The Property’s location near the intersection of I-395, I-495 and I-95 (the “mixing bowl”) provides exceptional vehicular access and is ideally positioned between the Pentagon and Ft. Belvoir. This location is ideal for defense contractors and services providers that will benefit from the proposed increases in the defense budget.

The zoning for the building is I-6 (Heavy Industrial District), which is one of the most flexible business zoning within the Fairfax County Zoning Ordinance for planned developments. This unique zoning has allowed the building to have excellent flexibility of proposed uses to the end user and to prospectivetenants.

With an average household income of $126,000 within a one-mile radius, the stellar demographics, strategic location, first class office construction and interior finishes, this property will continue to be a very solid long-term investment, which should steadily increase in value as any tenants with below market rental rates escalate and the local real estate market strengthens.