JLL to market brand new Class A industrial project in Springfield
Rare Last Mile opportunity for e-commerce user
TYSONS, VA September 9, 2020 - JLL's Metro DC Industrial leasing team has been retained by Fundrise to lease Fundrise 395 at 6621 Electronic Drive in Springfield, Virginia. The 140,000-square foot Class A building will deliver in late 2021.
“Fundrise 395 will be a trophy last mile industrial building” stated John Dettleff, Senior Managing Director, JLL. “Situated at the intersection of Interstates 395 and 495, it’s the ‘Main and Main’ of distribution for the Metro DC region.”
Fundrise, the pioneering online real estate investment manager with over $1 billion in assets under management, purchased the two industrial buildings at 6621 and 6705 Electronic drive earlier this year and is redeveloping the property into a state-of-the-art warehouse with 32’ clear ceiling heights, over 30 loading docks and nine tractor trailer parking spaces. “This was an opportunity to transform two functionality obsolete buildings into a state-of-the-art class A distribution facility at arguably the most well located intersection in the market,” noted Brandon Jenkins, COO, Fundrise. “It represents a broader focus for us on the continued shift towards ecommerce and just-in-time delivery that we believe will provide attractive returns to our investors going forward.”
JLL’s John Dettleff, Dan Coats and Abbot Wallenborn will spearhead the leasing and marketing of the property. For more information about Fundrise 395, visit https://www.us.jll.com/en/locations/mid-atlantic.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion in 2019, operations in over 80 countries and a global workforce of nearly 93,000 as of June 30, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
Fundrise is the first investment platform to create a simple, low-cost way to invest in institutional quality real estate. We’re on a mission to build the best investing experience ever by minimizing fees, improving long-term return potential, and unlocking access for everyone. We’ve invested in more than 150 properties across the country, managing more than $1 billion in assets on behalf of over 130,000 investors nationwide.