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Gannett HQ in Tysons Corner Sells for $270M

Gannett HQ in Tysons Corner Sells for $270M

Tamares Group, a London-based private investment firm, has agreed to acquire Gannett's Tysons Corner HQ for $270M. The deal follows Gannett’s split late last month into two publicly traded media businesses. The company's been trying to move a portion of the 787k SF complex but has struggled to find tenants. The broadcast and digital portion of the split company, Tegna Inc, announced it has signed a deal with Tamares to remain in the building for 18 months, the Washington Business Journal reports. The new Gannett, the print side of the split company, will continue sharing the HQ with Tegna and its 12-year lease agreement with Tegna will be transferred over to Tamares. CBRE brokered the deal, which is expected to close later this year. Gannett moved into the complex at 7950 Jones Branch Dr, which cost about $300M to build, in 2001. [WBJ]