News
Piedmont Puts NASA's Southwest DC HQ On The Market
September 21, 2016
Piedmont Office Realty Trust is looking to sell Two Independence Square, the 606k SF building that houses NASA's HQ.
The REIT has brought on Cushman & Wakefield to market the property, above, at 300 E St SW, the Washington Business Journal reports.
In 2011, NASA renewed its full-building lease until 2028. The building, assessed at $341M, has undergone a $70M renovation. Piedmont values the property at $314M on its balance sheet, but the GSA's $29.2M annual lease until 2028 gives it cash-flow value sure to be attractive to the myriad active foreign investors in DC CRE.
Last month, Piedmont sold a four-story Rockville office building to Montgomery College for $12.7M. [WBJ]
