Real Estate Organization Buys its Own DC Digs

WASHINGTON, DC-All of the “I”s have been dotted and all the “T”s crossed on the document that has made the National Association of Realtors the official owner of the new $46-million building that will house the Chicago-headquartered organization’s offices here. NAR bought the 93,000-sf tower at 500 New Jersey Ave. from developer Lawrence N. Brandt Inc. NAR is expected to move from its current home at 700 11th St. into part of the building this fall, and leave the remaining space open for leasing by outsiders.

Boasting views of the Capitol form its parcel that had been home to a 5,500-sf gas station, 500 New Jersey Ave. strikes a dramatic pose with its angular 12-story shape, covered from top to bottom in glass. NAR will ultimately occupy 40,000 sf among five floors of the building. In addition to its unique narrow design, envisioned by Graham Gund Architects, 500 New Jersey carries the distinction of being the District’s first new structure to be designated a “green” building, or a building that features environmentally friendly elements that rise to the level of Leadership in Energy and Environmental Design certification as designated by the US Green Building Council.