STONECROFT I & II
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Asset Overview: TASC/Engility Corporate HQ
STONECROFT I & II chart
  • Two, three-story office/R&D 100% NNN leased corporate HQ buildings totaling 321,538 sq. ft., 30 min from Washington, D.C. and 1/2 mile from the National Reconnaissance Organization (NRO)
  • Proximity to the NRO has created a micro-market with historical vacancy hovering below 10% due to a strong defense-centric tenant base that values access to the NRO’s dark fiber cabling
  • Corporate HQ for Engility which has occupied the buildings through acquisition since initial construction in 1997/98
Value-Add: Tenant Retention in Mission Critical Sub-Market
  • Leveraged additional expertise on Engility’s recent 10 year lease extension, contracts (book of business), and strategic importance of facility via KKR’s retained equity investment in the company
  • Since acquisition, Engility executed a lease expansion and now occupies 100% of the premises
  • Anticipated high, long-term tenant retention due to (i) proximity to NRO; (ii) long-term tenant tenure; (iii) strategically important executive HQ; and (iv) mission critical infrastructure – 4801 is 80% SCIF qualified and 4803 has secured SCIF conference/auditorium facilities for clients