WASHINGTON, D.C. -- The National Association of Broadcasters announced today it has entered into an agreement with Washington-DC based developer Monument Realty and its investment partners, New York-based Angelo, Gordon & Company, to purchase upon completion a new headquarters in the Capitol Riverfront neighborhood of the nation's capital, with a scheduled move-in by fall of 2018.
The planned relocation of the broadcast industry lobbying arm's headquarters is the culmination of a rigorous search for a location with easier access to Capitol Hill that will allow NAB to improve its advocacy efforts. The new headquarters building will be located at the corner of South Capitol and M Streets, SE, a "gateway" to the vibrant Capitol Riverfront section of Washington, DC. The building will be based exactly one mile from the U.S. Capitol and two blocks from the Washington Nationals baseball stadium.
"We're thrilled that we have found a new home," said NAB President and CEO Gordon 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, located in the heart of Dupont Circle. 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 hottest real estate areas, with convenient 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 breathtaking 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.
The National Association of Broadcasters is the premier advocacy association for America's broadcasters. NAB advances radio and television interests in legislative, regulatory and public affairs. Through advocacy, education and innovation, NAB enables broadcasters to best serve their communities, strengthen their businesses and seize new opportunities in the digital age. Learn more at www.nab.org.