Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WASHINGTON, DC-National Public Radio has sold its 151,785-sf headquarters in the East End to Boston Properties. The sale of 635 Massachusetts Ave. is part of the radio station’s multi-step game plan to redevelop a historic building it acquired earlier this year to serve as its new headquarters.

Purchased from J Street Development in March, the 81-year-old 1111 N. Capitol St. will be converted from its current 174,058-sf flex-industrial use into a 400,000-sf or so office building that preserves some 78,000 sf of the original historic structure, including frontages on North Capitol and Pierce streets. Boston Properties has the mandate to redevelop 1111 N. Capitol St.

According to accounts, 635 Massachusetts Ave. has traded for $119.5 million, or $788 per sf. Boston Properties and NPR did not return calls in time for deadline.

NPR had looked at several neighborhoods, including Silver Spring, MD, while evaluating potential new headquarter locations. The District sweetened the pot for the iconic media outlet to stay in DC by offering a 20-year tax abatement and new streetscape improvements around the nearby New York Avenue Metrorail station. Studley represented NPR in both transactions. Studley’s Art Greenberg, Vernon Knarr, Julie Rayfield, David Perlstein, Parker Lange, Collin Wheeler, Adam Schindler and Angela Cordovez all worked on these deals.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.