WASHINGTON—The National Association of Broadcasters found a new home. The organization said it entered an agreement with Washington-based developer Monument Realty and its investment partners, New York-based Angelo, Gordon & Co., to buy a building in D.C.'s Capitol Riverfront neighborhood, upon its completion. Move-in is expected by the fall of 2018.
The NAB announced in September of 2013 that it was looking for digs on the riverfront, after being located at the current headquarters in DuPont Circle since 1947. At the time, Gordon Smith, president and CEO of NAB, said that during his tenure as a senator, he sometimes would not visit NAB headquarters because he could not get back to Capitol Hill in time for a vote. The new headquarters building will be located at the corner of South Capitol and M Streets, SE—one mile from the U.S. Capitol and, of perhaps greater importance, two blocks from the Washington Nationals baseball stadium.
“We’re thrilled that we have found a new home,” said Smith. “The new building will be a showcase venue for radio and television stations across America and will send a strong message to public policymakers on the vibrant future of local broadcasting.”
Upon closing the purchase in early 2018, it is anticipated NAB will help finance the new headquarters through the sale of its current building at 1771 N Street (pictured left). Built in 1969, the landmark structure houses some 150 current NAB employees.
NAB’s proposed new building will be located in one of Washington D.C.’s most active real estate areas, with subway access a block away. It is anticipated that ground will be broken on the new headquarters in spring 2016.
Among the features in the new 10-story building will be a curved facade facing M Street, a rooftop terrace with a view of the Capitol, along with a 100-seat theater. Both the rooftop terrace and theater will be used for receptions and special events.
Monument Realty is the developer and CBRE’s Nonprofit Practice Group brokered the transaction. Monument has retained HOK to design the building. NAB has selected Hickok Cole as interiors architect and MGAC as owner’s representative.
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