Graham Holdings Company Moves Virginia Headquarters One Block Away
By Nick Trombola April 24, 2024 2:09 pm
reprints
The former owner of The Washington Post has upgraded its headquarters and apparently didn’t want to move far to do it.
Graham Holdings Company has signed a 15-year, 24,023-square-foot lease with Monday Properties at 1812 North Moore Street in Rosslyn, Va. Graham Holdings is moving its headquarters to the entire 21st floor of the 540,000-square-foot tower, only about a block away from its previous space at 1300 North 17th Street, dubbed Arlington Tower.
“Trophy buildings such as 1812 North Moore offering top-tier amenities and unbeatable access within the region remain at a premium given the limited supply in our market,” Tim Helmig, managing partner at Monday Properties, said in a statement. “As a result, we are seeing extraordinary leasing momentum and continuing to attract top-tier tenants.”
Graham Holdings was represented by Scott Panzer, Jay Farmer and Steve Burman of JLL (JLL) in the lease negotiations. Monday Properties was represented by John Wharton of Monday Properties and Yorke Allen, Robert Veshancey, Herb Mansinne and Lee Brinkman of JLL. Asking rent in the deal was unclear.
The company joins a number of other tenants at the tower, which is the largest in Rosslyn, such as Nestle USA, Oracle, Evolent Health, Rockefeller Capital Management and Rocade Capital.
Formerly known as The Washington Post Company from its formation in 1947 until the company’s sale of the paper to Jeff Bezos in 2013, Graham Holdings owns companies such as local TV stations, Clyde’s Restaurant Group, education brand Kaplan, and framing company Framebridge. It also hasn’t completely gotten out of the news game and still owns City Cast, Foreign Policy and Slate.
A spokesperson for Graham Holdings declined to comment.
Monday Properties has been busy with 1812 North Moore in recent days. Last week, the firm announced that it had secured $173 million to refinance the tower, along with $32 million to refinance Shirlington Gateway, a 206,000-square-foot medical office building it owns in Alexandria, Va. Citi Real Estate Funding provided both the loans.
Average office asking rents in Northern Virginia dropped slightly in the first quarter of this year to $35.32, bucking a trend of continual growth quarter-over-quarter since 2016, according to an office market report from Newmark. Yet rents are still 0.6 percent higher than they were in the first quarter of 2023, per the report.
Nick Trombola can be reached at ntrombola@commercialobserver.com.
