WASHINGTON, DC—Fannie Mae made it official announcing in a statement it had selected the current Washington Post headquarters as its new corporate headquarters property.
The GSE signed a lease for approximately 700,000 square feet of space with building owner Carr Properties at 1150 15th St. NW, according to the Washington Business Journal.
The move will allow Fannie Mae to consolidate its headquarters operations that are currently housed in about 1 million square feet of leased and owned space.
Fannie Mae spokesman Maureen Davenport states, “After extensive negotiations, the company determined that 1150 15th Street is the best option to meet Fannie Mae's needs. We look forward to moving into our home in the next few years."
Carr Properties is planning to demolish the Washington Post's current headquarters to make way for the new development. The storied newspaper has signed a lease for space at 1301 K St. NW will relocate there in 2016. Fannie Mae plans to sell its current headquarters at 3900 Wisconsin Ave. NW.
Fried Frank represented an affiliate of Carr Properties as landlord in the lease believed to be the largest ever non-government lease in Washington DC. The Fried Frank team was led by real estate partner Franz R. Rassman.
The Carr site was one of three properties reportedly on the Fannie Mae short list. The others were 555 12th St. NW and Capital Crossing. See story in the Washington Business Journal.
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