Rockwood Buying Watergate Office Building For $80M From Penzance
The iconic building, best known for the scandal that brought down a presidency, has reportedly been bought by Rockwood Capital for $80M, GlobeSt reports.
The New York-based firm would pay $390/SF for the 205k SF building at 2600 Virginia Ave NW.
After buying the building in 2011, Penzance gave it a significant renovation and brought the building from 45% to 90% occupancy, most recently signing a full-floor lease with George Washington University. The building is also occupied by publishing firm Sage, the National Trust for Historic Preservation and the Washington National Opera. [GS]