It will continue to occupy a portion of suburban Washington facility for 18 months after the sale to private investment group Tamares.
Tegna Inc. has signed a contract to sell its company headquarters for $270 million to Tamares, a private investment group established to make long-term investments in real estate, technology and the leisure industries. The deal is expected to close late in the third quarter or early in the fourth quarter of this year.
As part of the proposed deal, Tegna will continue to occupy a portion of the building in McLean, Va., for 18 months.
“This agreement is a continuation of our goal to optimize our real estate portfolio across the company and allows us to transition to better use of space for our corporate headquarters,” said Gracia Martore, Tegna president-CEO. “Tegna remains committed to staying in the Washington, D.C., area and a process is underway to find the most appropriate space to meet our company needs. We are pleased that Tamares will be taking over ownership of a great building and look forward to working with them over the coming months.”
“Tamares is proud to add the Tegna headquarters building to our portfolio of U.S. real estate holdings,” said Poju Zabludowicz, Chairman of Tamares. “This state-of-the-art-facility is one of the keystone properties in Northern Virginia and greater Washington, D.C. We look forward to enhancing the property and applying our local experience to attract new tenants to make 7950 Jones Branch Drive some of the most sought after first-class commercial office space in the area.”
The deal was brokered by the CBRE Group Inc.