Penzance has announced that George Washington University has signed on for a full floor lease at the historic Watergate Office Building at 2600 Virginia Ave.
The company acquired the building back in 2011 for $76M and recently completed a multimillion-dollar renovation and repositioning. With GWU joining the roster of tenants, which includes the National Trust for Historic Preservation and Sage Publications, the building has jumped from an occupancy rate of 45% five years ago to 90% today.
The Watergate Office Building offers a host of amenities, including a tenant-only fitness facility and access to a range of shopping and service opportunities in the Watergate plaza. Forever etched in our national history due to the infamous break-in scandal during the Nixon administration, the building is listed on the National Register of Historic Places.
In other news on The Watergate, Penzance has placed the property up for sale, the Washington Business Journal reports. Eastdil Secured has been retained to market the building to prospective buyers. Across the street, GWU is offering up its old dormitory, the Hall On Virginia Avenue, for sale. That's where Nixon's cronies had their lookout posted before the break-in.
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