PROPERTY DESCRIPTION

4114 Legato Road | Fairfax, 22033

Executive summary EXECUTIVE SUMMARY

Investment Highlights

• Institutional Quality 218,245 Square Foot Office Building; Vacant as of 12/31/16

• Within Walking Distance of Fair Oaks Mall, Offering over 180 Shops, Services and Eateries

• Broad Fairfax Amenity Base in Close Proximity, Featuring Four Grocers within a 10 Minute Drive of the Property

• Outstanding Regional Connectivity by Way of Lee Jackson Highway (Route 50), , Lee Highway (Route 29), and the Fairfax County Parkway (Route 286)

• Superb Signage Opportunity with Visibility from Interstate 66

• Less Than One Mile From Growing Fairfax County Government Center

• Ideal Office Repositioning Play at a Basis Well Below Replacement Cost; Potential Residential Conversion Candidate

• Free & Clear of Existing Debt

Holliday Fenoglio Fowler, L.P. (“HFF”), as exclusive representative for the Owner, is pleased to present this offering for the sale of One Fair Oaks (the “Property”), a 218,245 square foot office building in Fairfax, Virginia. This institutional quality asset is located immediately adjacent to Fair Oaks Mall, offering tenants walkable access to eateries and shopping alike within 5 minutes of the Property. Long-time tenant CACI will vacate the Property upon their December 31, 2016 lease expiration, providing investors the opportunity to reposition the asset for future office use or explore potential residential conversion.

Anchored by Fair Oaks Mall with over 180 total retailers, the area immediately surrounding the Property offers tenants nearly every possible retailer an individual could need within a short drive. An on-site fitness center and café headline immediately accessible amenities, while the Property’s location at the intersection of Lee Jackson Memorial Highway (Route 50) and Interstate 66 provides outstanding regional connectivity. The building’s height affords a superb signage opportunity to each of these arterials while Lee Highway (Route 29) and the Fairfax County Parkway (Route 286) are also located within minutes of the Property, further enhancing One Fair Oaks’ accessibility.

Accordingly, One Fair Oaks represents an exceptional opportunity to acquire an institutional quality office asset at below replacement cost and to achieve value-add returns through the lease up of the Property or conversion to residential use.

2 PROPERTYEXECUTIVE SUMMARYDESCRIPTION

Institutional Quality Office Building Property Summary • Originally constructed in 1987 and renovated in 2005, One 4114 Legato Road Fair Oaks is an institutional quality Class A office building. Address Fairfax, Virginia 22033 • The 12-story building features ± 19,000 BRSF floor plates and a Rentable Area 218,245 BOMA RSF (BRSF) 3.2 per 1,000 SF parking ratio, including 570 (2.6 per 1,000 SF) structured parking stalls. Year Built 1987 • The Property is the recent recipient of over $900,000 in Year Renovated 2005 base building capital improvements, including VAV upgrades and elevator modernization and is available at a discount to Stories 12 replacement cost. Typical Floor Plate ± 19,000 BRSF Immediately Walkable to Fair Oaks Mall 692 Surface & Structured Spaces Parking Ratio • One Fair Oaks is walkable to Fair Oaks Mall in less than 5 (3.2 per 1,000 SF) minutes, providing tenants superior amenity access in comparison Site Area 4.30 Acres (187,455 SF) with similar office buildings in . • Fair Oaks Mall features 24 eateries amongst its 180 total PDC (Planned Development Commercial, Zoning retailers. The mall is anchored by Macy’s, Lord & Taylor, Fairfax County) and JC Penney. % Leased* 0% (As of December 31, 2016) • As a testament to its ongoing vibrancy, Fair Oaks Mall is *Offering Includes Mission-Critical GSA Antenna Lease, with contractual revenue through currently 100% leased and has averaged 99% occupancy over February 2020 the past 10 years.

3 EXECUTIVE SUMMARY

Diverse Fairfax Amenity Base in Close Proximity

• In addition to Fair Oaks Mall, the area immediately surrounding the Property offers an outstanding broad based amenity package.

• Whole Foods, Harris Teeter, Wegmans, and Safeway are all accessible from the Property in less than 10 minutes, providing tenants outstanding optionality and convenience for their daily necessities.

Fox Mill Rd d R • Additional retailers from Best Buy to REI to Home s t t 608 S Hi h d sto g Depot are drivable in less than 10 minutes, n ry D i la r e 672 y H a r 50 W e ensuring tenants never have to travel far to fulfill ll Lee Jackson Memorial Hwy Stream i Vale Rd r M even their most diverse shopping needs. D Valley Park le 655 286 a d P e av z ilio n n o Ln r B

FAIR OAKS MALL 664 r Pe D nne rview Ln e g Majestic Ln FAIRFAX TOWNE CENTER d i R P Pe F nnypacke n le o Tattersall r L d i A id n Fair Oaks Mall t I Park M R P P e r Pin F n l de D e e rbrook T A re a e s X Dr O a Penderbrook a C n k P asant Dr to oint Ple t Lee Jackson Memorial Hwy O Golf Club n

D R L U d r Fair Ridge e N g Park S V T Pende alley R a Y rb t ro d o Majestic Ln o P k R K D r o W M 655 a o Y n d um en t D r 608 50 FAIRFAX CORNER Melville Ln 66

d R n w to n F a 286 ai 66 rm r La e kes J le Pkwy R rc and Ci om H Fair Lakes ills Rd

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y G 4 PROPERTYEXECUTIVE SUMMARYDESCRIPTION

Outstanding Regional Connectivity Ideal Office Repositioning or with Nearby Demand Driver Residential Conversion Candidate

• Situated at the confluence of Lee Jackson Memorial Highway • Long-term tenant CACI will vacate the Property as of December (Route 50) and Interstate 66, with Lee Highway (Route 29) and 31, 2016, allowing investors the opportunity to either reposition the Fairfax County Parkway (Route 286) in close proximity, One the asset for future office use or pursue a residential conversion Fair Oaks offers outstanding regional connectivity. strategy.

• The Capital Beltway (Interstate 495) is located only 11 minutes • Access and amenities are ideal for medical office, residential, or from the Property, while Washington Dulles International Airport senior housing uses. is only 15 minutes away. Downtown Washington, DC can be reached in a half hour. • ±19,000 BRSF floor plates can readily be split up to accommodate multi-family units. • The Property is less than one mile from the growing Fairfax County Government Center, providing an outstanding nearby • Mission critical GSA antenna lease provides ancillary income demand driver. through repositioning effort.

Fair Oaks Mall

Le g a to R o a d

ay kw ar P es ak L ir Fa

5 4114 Legato Road | Fairfax, Virginia 22033

Andrew M. Weir James A. Meisel Stephen “Dek” Potts, Jr. Stephen C. Conley Holliday Fenoglio Fowler, L.P. Holliday Fenoglio Fowler, L.P. Holliday Fenoglio Fowler, L.P. Holliday Fenoglio Fowler, L.P. Senior Managing Director Senior Managing Director Senior Managing Director Executive Managing Director 202.533.2504 202.533.2505 202.533.2528 202.533.2533 [email protected] [email protected] [email protected] [email protected]

Financing: Matthew T. Nicholson Cary P. Abod Holliday Fenoglio Fowler, L.P. Holliday Fenoglio Fowler, L.P. Associate Director Managing Director 202.533.2502 202.533.2513 [email protected] [email protected]

Holliday Fenoglio Fowler, L.P. (“HFF”) a Virginia licensed real estate broker.

HFF has been engaged by the owner of the property to market it for sale. Information concerning the property described herein has been obtained from sources other than HFF, and neither Owner nor HFF, nor their respective equity holders, officers, employees and agents makes any representations or warranties, express or implied, as to the accuracy or completeness of such information. Any and all reference to age, square footage, income, expenses and any other property specific information are approximate. Any opinions, assumptions, or estimates contained herein are projections only and used for illustrative purposes and may be based on assumptions or due diligence criteria different from that used by a purchaser, and HFF, its partners, officers, employees and agents disclaim any liability that may be based upon or related to the information contained herein. Prospective purchasers should conduct their own independent investigation and rely on those results. The information contained herein is subject to change.

1775 Pennsylvania Ave, NW | 5th Floor | Washington, DC 20006 202.533.2500 | hfflp.com