Best Real Estate Deals of 2013: New Office Development
April 25, 2014

  • Winner: NPR headquarters
  • Location: 1111 N. Capitol St. NE, Washington
  • Size: 440,000 square feet
  • Value: $201 million
  • Developer: Boston Properties
  • Broker: Studley

After broadcasting from its studios at 635 Massachusetts Ave. NW by Mount Vernon Square for nearly two decades, NPR signed off on its former headquarters and recorded the first broadcast in its new home at 1111 N. Capitol St. NE in April 2013. With that live-from-NoMa broadcast of “Weekend Edition Saturday,” NPR marked the culmination of five years of planning and contributed to what is an emerging media enclave in the North of Massachusetts Avenue neighborhood.

Working with broker Studley, NPR considered nearly 100 potential locations across the region before settling on 1111 N. Capitol. With its move, which brought about 800 D.C.-based employees to the neighborhood, NPR joined a small but growing number of media outlets in the neighborhood, including CNN and Sirius XM.

The deal involved several moving parts, including its acquisition of the site from J Street Cos. for $41.2 million, the sale of its former headquarters to Boston Properties Inc. for $119 million and a deal to lease back its space there until its new home was completed. Boston Properties is now redeveloping that site and has signed Arnold & Porter LLP as an anchor tenant...

Best Real Estate Deals of 2013: New Office Development

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