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As Fannie Mae prepares to move into its shiny new downtown HQ, it has been seeking buyers for its former home in upper Northwest.
Roadside Development appears to be the presumptive buyer of the 228k SF building at 3900 Wisonsin Ave NW, above, the Washington Business Journal reports.
Though no official purchase has been announced, a 3900 Wisconsin LLC was registered with Roadside's address and a source tells WBJ Fannie Mae is "focused on" Roadside as a potential buyer. The mortgage financier retained Cushman & Wakefield to sell the property, which sits on 10 acres of land and has been assessed a value of $95M.
That pales in comparison to the $680M Carr Properties will spend building Midtown Center, where Fannie Mae will soon occupy 752k SF, likely the largest private sector lease in DC history. [WBJ]
