Executive Summary
On behalf of Fairfield, Berkadia is pleased to present the sale of The Moxley, a 403-unit luxury community at the junction of Route 50 and Route 29 in Fairfax, Virginia. The Moxley (the “Property”) includes 16,002 square feet of fully-leased, on-site retail. Located less than one mile from I-66, the Property gives residents quick access to the Capital Beltway throughout Northern Virginia and Washington, D.C. Additionally, The Moxley is ten minutes away from the Metro Orange Line’s Vienna/Fairfax-GMU Station, putting residents within a 15-minute ride of the Rosslyn Ballston Corridor and a 25-minute ride to downtown Washington, D.C.
The Moxley, delivered in July 2022, is one of only four properties to deliver in the submarket since 2016, and has experienced rapid demand throughout lease-up by achieving stabilization in just 16 months. The Moxley provides a unique opportunity in a prominent Northern Virginia location poised for future rent and job growth.
Proximity to hundreds of thousands of high-salary jobs as well as tremendous growth in NoVa’s STEM industries has contributed to some of the strongest resident demographics in the country, with an average household income of $170,000. Continued investment in largescale corporate infrastructure from major technology and financial services players including Amazon, Capital One, and Fannie Mae will drive Fairfax County’s excellent submarket fundamentals and further increase demand.
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
© 2023 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by the Tax Credit Syndication group. For state licensing details for the above entities, visit www.berkadia.com/licensing.
4445 Willard Ave | Suite 1200 | Chevy Chase, MD 20815
BRIAN CRIVELLA
Senior Managing Director
301.580.6685
brian.crivella@berkadia.com
YALDA GHAMARIAN
Senior Director
240.462.2332
yalda.ghamarian@berkadia.com
BILL GRIBBIN
Senior Director
301.580.6486
bill.gribbin@berkadia.com
INVESTMENT SALES
DC METRO
4445 Willard Ave.
Suite 1200
Chevy Chase, MD 20815
CONTACT US
Investment Highlights
Just two miles from the Property, Fairfax Corner features a pedestrian-friendly lifestyle center with outdoor seating areas, walkways, and a central plaza home to diverse dining options and a variety of high-end retail such as Arhaus, Coastal Flats, Warby Parker, and Ruth’s Chris.
The Property’s last 10 renewals are achieving an average net effective rent increase of 10.5%.
Direct access at the junction of Route 50 and Route29 just less than 1-mile from I-66 giving residents quick access to the Capital Beltway throughout Northern Virginia and Washington, D.C.
Surrounding market has only delivered three other assets since 2016. Limited future supply with 0 units under construction within a five-mile radius.
Proximate to
Fairfax Corner
STRONG RECENT
LEASING TRENDS
IDEAL LOCAL AND
REGIONAL CONNECTIVITY
Supply
Constrained Market
948
avg. sf
403
units
2022
year built
16,002
sf fully-leased
retail space
10 minute drive
to metro orange line vienna/fairfax station
95%
occupied
759
parking spaces
Outdoor Green Terrace with Fire Pit
and Lounge Area
Grilling Stations and
Outdoor Dining Area
Resort-style Swimming Pool with Surround Sun Deck and Cabanas
Spacious On-site Dog Park
Spacious light-filled floor plans with #’ ceiling heights
Quartz countertops and light-colored tile kitchen backsplash
Modern kitchen fixtures and Stainless-Steel Appliances
Light-colored wood plank flooring in kitchen and living areas
Ceramic tile flooring in bathrooms and glass door walk-in showers in select units
Full-sized washer / dryer in all units and large walk-in closets in select units
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4040 GATEWAY DR. FAIRFAX, VA 22030
© 2023 Berkadia Proprietary Holding LLC
Berkadia® is a trademark of Berkadia Proprietary Holding LLC
Investment sales / real estate brokerage business is conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. This website is not intended to solicit commercial mortgage loan brokerage business in Nevada.
In California, Berkadia Real Estate Advisors Inc. conducts business under CA Real Estate Broker Lic. #01931050, Berkadia Commercial Mortgage LLC under CA Finance Lender & Broker Lic. #988-0701, Berkadia Commercial Mortgage Inc. under CA Real Estate Broker Lic. #01874116. For state licensing details for the above entities, visit: www.berkadia.com/legal/licensing
4445 Willard Ave | Suite 1200 | Chevy Chase, MD 20815
BRIAN CRIVELLA
Senior Managing Director
301.580.6685
brian.crivella@berkadia.com
YALDA GHAMARIAN
Senior Director
240.462.2332
yalda.ghamarian@berkadia.com
BILL GRIBBIN
Senior Director
301.580.6486
bill.gribbin@berkadia.com
INVESTMENT SALES
DC METRO
4445 Willard Ave.
Suite 1200
Chevy Chase, MD 20815
CONTACT US
superior fairfax fundamentals
The property submarket has seen nearly 20% rent growth since pre-pandemic levels and is projected to maintain +96% average occupancy and 3.5% YoY rent growth through 2028.
Ideal Local and Regional Connectivity
Located at the junction of Route 50 and Route 29 and less than one mile from I-66, the Property provides quick access to the Capital Beltway throughout Northern Virgina and Washington, D.C.
Bar Area and Catering Kitchen
Resident Lounge
Resident Club Room
Co-Working Spaces Throughout
Fully-Equipped Fitness Center
Bike Storage and
Maintenance Room
Pet Spa
Spin Room/Yoga Studio
OUTSTANDING RENTER DEMOGRAPHICS
indoor
amenities
outdoor
spaces
In the 2023 rankings of counties with the best public schools in Virginia, Fairfax County ranked 2nd, with five of the state’s top 15 public high schools located in Fairfax County. The property is also located within a 10-minute drive of the Fairfax County Government headquarters, which employs over 60,000 people throughout the County.
fairfax
county
Attractive Northern Virginia Location
Northern Virginia is the select target market in the DC Metro area with very few assets in the market compounded by tremendous local investment in infrastructure, lifestyle hubs, education, Amazon HQ2, and more.
Strong rental demand is boosted by some of the best renter demographics in the country. Within a five-mile radius, the average household income is $170,000.