MCLEAN, Va.--(BUSINESS WIRE)--Jul. 21, 2015--
TEGNA Inc. (NYSE: TGNA) today announced it has signed a contract to sell
its company headquarters for $270 million to Tamares, a private
investment group established to make long-term investments in real
estate, technology and the leisure industries. The deal is expected to
close late in the third quarter or early in the fourth quarter of this
year.
As part of the proposed deal, TEGNA will continue to occupy a portion of
the building for 18 months.
“This agreement is a continuation of our goal to optimize our real
estate portfolio across the company and allows us to transition to
better use of space for our corporate headquarters,” said Gracia
Martore, president and CEO, TEGNA. “TEGNA remains committed to staying
in the Washington, D.C. area and a process is underway to find the most
appropriate space to meet our company needs. We are pleased that Tamares
will be taking over ownership of a great building and look forward to
working with them over the coming months.”
“Tamares is proud to add the TEGNA headquarters building to our
portfolio of U.S. real estate holdings,” said Poju Zabludowicz, Chairman
of Tamares. “This state-of-the-art-facility is one of the keystone
properties in Northern Virginia and greater Washington, D.C. We look
forward to enhancing the property and applying our local experience to
attract new tenants to make 7950 Jones Branch Drive some of the most
sought after first-class commercial office space in the area."
The deal was brokered by the CBRE Group, Inc.
About TEGNA Headquarters
TEGNA’s corporate headquarters building is nearly 800,000 square feet
originally situated on a 25-acre site. Eight acres of company
headquarters property were previously sold in 2007. Construction was
completed in 2001. The architectural design was done by Kohn Pedersen
Fox Associates (KPF), one of the world’s preeminent architecture firms,
and construction was led by Clark Construction Group. The facility
features two glass wrapped office towers, a plaza and landscaped
terraces with cascading water features and a reflecting pool. The
building has won numerous awards for design, architecture and
craftsmanship including the AIA National Chapter Honor Award for
Architecture (2005) and the Business Week/Architectural Record Award
(2003).
About TEGNA
TEGNA Inc. (NYSE: TGNA), formerly Gannett Co., Inc., is comprised of a
dynamic portfolio of media and digital businesses that provide content
that matters and brands that deliver. TEGNA reaches more than 90 million
Americans and delivers highly relevant, useful and smart content, when
and how people need it, to make the best decisions possible. TEGNA Media
includes 46 television stations (including those serviced by TEGNA) and
is the largest independent station group of major network affiliates in
the top 25 markets, reaching approximately one-third of all television
households nationwide. TEGNA Digital is comprised of Cars.com, the
leading online destination for automotive consumers, CareerBuilder, a
global leader in human capital solutions, and other powerful brands such
as G/O Digital, Clipper and Sightline Media Group. For more information,
visit www.TEGNA.com.
About Tamares
Tamares is a 25 year old private investment group established to make
long-term investments in real estate, technology and the leisure
industries. Founded and led by established global investor, businessman
and philanthropist, Poju Zabludowicz, Tamares has built a series of
highly successful investments and businesses globally, with a strong
focus in the United States and Europe. Its success is built on the
ability of the Tamares management team to identify new investments, act
decisively and manage improvements and facilities to ensure industry
leading performance. Across the United States and Europe the portfolio
manages properties comprised of iconic hotels, commercial spaces and
residential and luxury properties. Tamares premier holdings include 1500
Broadway in the heart of Times Square in New York City, the 27 acre
Plaza America complex in Reston, Virginia and hotel properties and land
in downtown Las Vegas. Tamares is headquartered in London at one of its
UK holdings on Dover Street in the heart of Mayfair.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150721005850/en/
Source: TEGNA Inc.
For media inquiries, contact:
TEGNA Inc.
Jeremy Gaines
Vice
President, Corporate Communications
703-854-6049
jmgaines@TEGNA.com
or
For
Tamares, contact:
Carly Maisel
Director, Communications
cmaisel@tamares.com
or
For
investor inquiries, contact:
TEGNA Inc.
Jeffrey Heinz
Vice
President, Investor Relations
703-854-6917
jheinz@TEGNA.com