This property is Off-Market
1450 Technology Drive
Harrisonburg, VA 22802 ·
42,000 SF · Office For Sale
Office Building near James Madison University
|Building Size||42,000 SF||Building Class||A|
|Property Use Type||Investment||Lot Size||7.60 AC|
|Commission Split||5%||APN / Parcel ID||Deed Book/Page 1650/250|
|Cap Rate||9%||Parking Ratio||4.76 / 1,000 SF|
|Listing ID: 14411374||Date Created: 11/18/2005||Last Updated: 09/19/2006|
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.
- 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
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