$260 Million Acquisition of Gannett's Former Tyson's Corner HQ Closes

TEGNA Inc., formerly Gannett Co., Inc., announced the successful completion of the $270 million acquisition of its Tyson’s Corner corporate headquarters building to Tamares, a London-based private real estate investment group.

Located at 7950 Jones Branch Drive, the 787,000-square-foot complex cost approximately $300 million to build in 2001, according to the Washington Business Journal.

As part of the completed deal, TEGNA will continue to occupy a portion of the building for the next 18 months, according to a TEGNA announcement. Brokered by the CBRE Group, Inc., the deal was announced in July, 2015, according to Market Watch.

See: Tegna, Division of Gannett, Sells McLean Headquarters for $270 Million

Formed in June 2015, Tegna handles Gannett’s broadcasting and digital media divisions, allowing Gannett to focus more on its print publications, including USA Today. Tegna owns or operates 46 television stations, and is now the largest group owner of NBC and CBS affiliate stations.

Tamara is an investment group focused on long-term deals in the real estate, technology and leisure industries.

“This agreement is a continuation of our goal to optimize our real estate portfolio across the company and allows us to transition to better use of space for our corporate headquarters,” said Gracia Martore, president and CEO, TEGNA. “TEGNA remains committed to staying in the Washington, D.C. area and a process is underway to find the most appropriate space to meet our company needs. We are pleased that Tamares will be taking over ownership of a great building and look forward to working with them over the coming months.”

“Tamares is proud to add the TEGNA headquarters building to our portfolio of U.S. real estate holdings,” said Poju Zabludowicz, Chairman of Tamares. “This state-of-the-art-facility is one of the keystone properties in Northern Virginia and greater Washington, D.C. We look forward to enhancing the property and applying our local experience to attract new tenants to make 7950 Jones Branch Drive some of the most sought after first-class commercial office space in the area.”