{"id":1004124426,"date":"2015-07-31T20:27:59","date_gmt":"2015-08-01T04:27:59","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=356263"},"modified":"2020-05-19T05:12:35","modified_gmt":"2020-05-19T13:12:35","slug":"tegna-sale-rocks-mclean-office-market","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/tegna-sale-rocks-mclean-office-market\/","title":{"rendered":"TEGNA Sale Rocks McLean Office Market"},"content":{"rendered":"<p style=\"text-align: justify;\"><em>By Adrian Maties, Associate Editor<\/em><\/p>\n<p style=\"text-align: justify;\">The McLean office market has been tested this month, with the announcement of two deals totaling almost $300 million.<\/p>\n<div id=\"attachment_356264\" class=\"wp-caption alignright\" style=\"width: 310px\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/07\/7950-Jones-Branch-Drive.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-356264\" title=\"7950 Jones Branch Drive\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/07\/7950-Jones-Branch-Drive.jpg\" alt=\"7950 Jones Branch Drive\" width=\"300\" height=\"170\" \/><\/a><\/p>\n<p class=\"wp-caption-text\">7950 Jones Branch Drive<\/p>\n<\/div>\n<p style=\"text-align: justify;\">On July 21, <a href=\"https:\/\/www.tegna.com\/\" rel=\"nofollow\" >TEGNA Inc.,<\/a> formerly Gannett Co., revealed that it has signed a contract to sell its massive corporate headquarters building at 7950 Jones Branch Drive for a price as large as the property itself, at $270 million. <a href=\"https:\/\/www.tamares.com\/\" rel=\"nofollow\" >Tamares<\/a>, a London-based private investment group, is the buyer. The deal was brokered by <a href=\"https:\/\/www.cbre.com\/EN\/Pages\/Home.aspx\" rel=\"nofollow\" >CBRE<\/a> and is expected to close late in the third quarter or early in the fourth quarter of this year.<\/p>\n<p style=\"text-align: justify;\">TEGNA is selling the property as part of its strategy to optimize its real estate portfolio. The 800,000-square-foot headquarters building opened in 2001. It was designed by <a href=\"https:\/\/www.kpf.com\/\" rel=\"nofollow\" >Kohn Pedersen Fox Associates<\/a>, one of the world\u2019s preeminent architectural firms, and constructed by the <a href=\"https:\/\/www.clarkconstruction.com\/\" rel=\"nofollow\" >Clark Construction Group<\/a>. The facility consists of two glass-wrapped office towers, a plaza, landscaped terraces and a reflecting pool. Over the years, the property has won numerous awards for its design, architecture and craftsmanship.<\/p>\n<p style=\"text-align: justify;\">As part of the deal, TEGNA will continue to occupy a portion of the complex for another 18 months.<\/p>\n<p style=\"text-align: justify;\">Poju Zabludowicz, chairman of Tamares, described the TEGNA headquarters facility as \u201cone of the keystone properties in Northern Virginia and greater Washington, D.C.\u201d He also revealed that his company intends to turn the massive building into \u201csome of the most sought-after first-class commercial office space in the area.\u201d Tamares is no stranger to the U.S. market: Its portfolio includes properties in New York City, Las Vegas and the Greater Washington area.<\/p>\n<p style=\"text-align: justify;\">A second, smaller transaction also took place this month in McLean. On July 27, <a href=\"https:\/\/www.copt.com\/\" rel=\"nofollow\" >Corporate Office Properties Trust<\/a> announced the sale of the office building at 1550 Westbranch Drive. The 152,200-square-foot property is fully occupied by The MITRE Corp. until October 2016. It was sold for $27.8 million to an unnamed buyer.<\/p>\n<p style=\"text-align: justify;\"><em>Photo credit: <\/em><a href=\"https:\/\/www.7950jonesbranch.com\" rel=\"nofollow\" ><em>www.7950jonesbranch.com<\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The McLean office market has been rocked hard this month, with the announcement of two deals totaling almost $300 million.<\/p>\n","protected":false},"author":925,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1615],"tags":[],"class_list":["post-1004124426","post","type-post","status-publish","format-standard","hentry","category-latest","category-washington-dc"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>TEGNA Sale Rocks McLean Office Market - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/tegna-sale-rocks-mclean-office-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TEGNA Sale Rocks McLean Office Market\" \/>\n<meta property=\"og:description\" content=\"The McLean office market has been rocked hard this month, with the announcement of two deals totaling almost $300 million.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/tegna-sale-rocks-mclean-office-market\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-08-01T04:27:59+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-19T13:12:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/07\/7950-Jones-Branch-Drive.jpg\" \/>\n<meta name=\"author\" content=\"Adrian Maties\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/tegna-sale-rocks-mclean-office-market\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/tegna-sale-rocks-mclean-office-market\\\/\"},\"author\":{\"name\":\"Adrian Maties\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/6dfc8d1c9006c9fd1c89d69133130109\"},\"headline\":\"TEGNA Sale Rocks McLean Office Market\",\"datePublished\":\"2015-08-01T04:27:59+00:00\",\"dateModified\":\"2020-05-19T13:12:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/tegna-sale-rocks-mclean-office-market\\\/\"},\"wordCount\":322,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/tegna-sale-rocks-mclean-office-market\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/07\\\/7950-Jones-Branch-Drive.jpg\",\"articleSection\":[\"News\",\"Washington D.C.\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/tegna-sale-rocks-mclean-office-market\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/tegna-sale-rocks-mclean-office-market\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/tegna-sale-rocks-mclean-office-market\\\/\",\"name\":\"TEGNA Sale Rocks McLean Office Market - 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