Feb. 22, 2011 - The National Press Building in Washington, home to the National Press Club, is on the market and could fetch as much as $295 million, or $600 a square foot. This, according to tomorrow's edition of the Real Estate Alert newsletter.
Cassidy Turley is marketing the 491,000-square-foot building for the owner, a venture led by Quadrangle Development, Real Estate Alert reports. The building is 96 percent occupied and just the sort of core asset investors are craving - and paying record prices for across the country.
The building at 529 14th St. NW, completed in 1927, was renovated in 1985 and again in 2006. It's only two blocks from the White House.
This offering should get a lot of attention from real estate reporters vying to break the story of the new owner.