WASHINGTON, DC-Penzance has closed on a lease announced earlier this summer with the National Trust for Historic Preservation at the Watergate. The Trust is relocating its headquarters to 2600 Virginia Ave., after selling its Dupont Circle headquarters.
Manny Fitzgerald of CBRE represented the National Trust and Carroll Cavanagh, Bob VeShancey and Herb Mansinne of Jones Lang LaSalle represented Penzance in the transaction.
The lease caps off a year in which the National Trust put its famed building at 1785 Massachusetts Ave., NW, on the market, where it was acquired by American Enterprise Institute in February for $36.5 million.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
