TEGNA, the media company formerly known as Gannett, has agreed to sell its US headquarters in McLean, Virginia for $270m (£173m) to a private investment group, Tamares.
As part of the proposed deal, TEGNA will continue to occupy part of the building for 18 months.
Gracia Martore, TEGNA’s president and chief executive, said the sale was “a continuation of our goal to optimise our real estate portfolio across the company.”
She continued: “TEGNA remains committed to staying in the Washington DC area and a process is underway to find the most appropriate space to meet our company needs.”
TEGNA’s headquarters is composed of two glass wrapped office towers, a plaza and landscaped terraces with cascading water features and a reflecting pool. The building has won numerous awards for design, architecture and craftsmanship.
Following Gannett’s break-up in June this year, the broadcasting and digital divisions are now operated by TEGNA. The publishing company, which retained the Gannet name, includes the UK regional newspaper company, Newsquest.
Tamares, a global investment group founded and led by Poju Zabludowicz, is based in London.
Source: TEGNA
