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Piedmont Puts NASA's Southwest DC HQ On The Market

300 E St SW

Piedmont Office Realty Trust is looking to sell Two Independence Square, the 606k SF building that houses NASA's HQ.

The REIT has brought on Cushman & Wakefield to market the property, above, at 300 E St SW, the Washington Business Journal reports.

In 2011, NASA renewed its full-building lease until 2028. The building, assessed at $341M, has undergone a $70M renovation. Piedmont values the property at $314M on its balance sheet, but the GSA's $29.2M annual lease until 2028 gives it cash-flow value sure to be attractive to the myriad active foreign investors in DC CRE.

Last month, Piedmont sold a four-story Rockville office building to Montgomery College for $12.7M. [WBJ]