The National Press Building in Washington, D.C. has been sold for $167.5 million.
The building, which has about 420,000 square feet of retail and office space, was purchased by AEW Capital Management LP of Boston and Quadrangle Development Corp. Quadrangle will continue to manage and lease the property.
The seller, Press Building LLC, was represented by Bill Collins, Paul Collins, Drew Flood, Jud Ryan and James Cassidy of Cassidy Turley.
The National Press Building is located one block from the Metro Center station and two blocks from the White House.
The National Press Club occupies the top two floors of the building.
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