Historical Office Sale Listing - Office Building near James Madison University

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Office Building near James Madison University

1450 Technology Drive, Harrisonburg, VA 22802

N/A

42,000 SF | Office

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Office Property - Off Market

Price:
N/A
Building Size:
42,000 SF
Property Type:
Office
Property Sub-type:
Office Building
Additional Sub-types:
Institutional/
Governmental
Office-Business Park
Office-R&D
Property Use Type:
Investment
Commission Split:
5%
Cap Rate:
9%
Occupancy:
100%
Building Class:
A
Tenancy:
Single
Year Built:
1999
Lot Size:
7.60 AC
APN / Parcel ID:
Deed Book/ Page 1650/ 250
Parking Ratio:
4.76 / 1,000 SF
Listing ID
14411374
Last Updated
over 1 year ago

Highlights

  • Located less than 2 hours from Federal Government
  • Building is like new, built to modern tech standards
  • Near 20,000 student James Madison University
  • 7.6 acres--room to expand/priced below replacement
  • JMU is leader in infor. security/homeland security
  • Harrisonburg is the center of a growing region

Description

The TSI Building is a 42,000 square foot Class A office building constructed in 1999. Comprised of three (3) levels on a 7.6 acre lot in Harrisonburg Technology Park, the building was constructed to the modern specifications of a software company, including fiber optics, CAT-5 LAN wiring and a secure server room. The TSI Building is designed equally well for the operation of several businesses (with adaptation) or a single company. On each floor there are two (2) 4,400 s.f. wings, each of which can be configured as open space, plus approximately 5300 s.f. of offices, conference rooms work rooms, common areas in-between the wings. There are entrances on the second floor and the first floor, ideal for separation of visitor/customer and employee uses. The property features over 200 parking spaces. The TSI Building was constructed to allow for two (2) 12,400 s.f. additions. The TSI Building is presently occupied by Jenzabar, a privately-held provider of enterprise software, e-learning solutions and services to over 700 institutions of higher education. The Jenzabar lease terminate on March 31, 2007; there is no renewal right.

Harrisonburg, VA is located on Interstate 81. Located in central-western Virginia, Harrisonburg is approximately two hours from each of Washington, DC and Richmond, VA and less than four hours from the main population base of the mid-Atlantic. The combined population within the Harrisonburg MSA is currently 111,801, which represents a 22.68% increase from the 1990 population. The population is projected to increase by another 3.14% by 2010. Harrisonburg is home to 20,000 student James Madison University, a growing national university with an acclaimed technology curriculum and several Homeland Security research grants. Because of its location and the presence of JMU, Harrisonburg is an excellent location for companies doing business with the Federal government.

Map of 1450 Technology Drive, Harrisonburg, VA 22802 (Harrisonburg City County)

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Created 11/18/2005