WASHINGTON, DC--A little more than a year ago, the National Association of Broadcasters announced it had entered into an agreement with Monument Realty and its investment partner, New York-based Angelo, Gordon & Co., to purchase a new headquarters building in the Capitol Riverfront submarket when it was completed. The headquarters would be located at One M St., SE -- namely, the corner of South Capitol and M Streets, SE.
Monument Realty is formally breaking ground on the project next week on Monday June 20th, with an anticipated move-in date of Fall 2018. The 130,000-square foot, 10-story building will be have a curved facade facing M Street, a rooftop terrace with a view of the Capitol and a 100 seat theater, according to the original specs. HOK was retained to design the building and Hickok Cole was tapped as interiors architect.
NAB said it will finance the new headquarters through the sale of its current building, 1771 N St., NW, located in Dupont Circle.
Plus One Residential Building
Monument is also developing a 163-unit residential building at 10 Van St., SE, adjacent to the NAB's headquarters. A 13-story building, 10 Van Street was designed by Gensler. It will feature two brick towers that front South Capitol Street and anchor a west-facing courtyard. The central section fronting South Capitol Street, and the lower floors along Van Street will be multi-level units, with direct access from the street.
At the time it announced the addition of 10 Van St., SE to the project -- about six months after the NAB deal was finalized -- Monument said it was probably going to be a condominium, but would keep all options on the table.
Michael Darby
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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.
