×
You will be redirected back to your article in seconds

MPAA Sells Stake in D.C. Headquarters As It Is Slated for Redevelopment

The MPAA has sold an 80% condominium interest in its Washington DC headquarters, just blocks from the White House, to Trammell Crow Co., which plans a major transformation of the structure.

Trammell Crow plans to transform the 150,000 property into a much more modern, glassy design, including a rooftop lounge and terrace and a membership fitness center. The MPAA will retain a 20% condominium ownership in the building, and will occupy two of the eight floors, with a new theater and event space. The remaining six floors will be leased.

No sales figure was disclosed.

The building, at 888 16th St., was designed by Vastimil Koubeck in the modernist brutalist style and finished in 1969. Gensler will be the architect on the remodel.

There had been speculation for some time that the MPAA was looking to sell or redevelop its property.

“The MPAA Building is one of the most historic addresses in Washington DC,” MPAA chairman Chris Dodd said in a statement. “It has hosted presidents, foreign leaders, visionary directors, and well-known artists for decades.”

The building, adjacent to the Hay Adams Hotel and across the street from St. John’s Church, is on the former site of the Tuckerman House, which was built in 1886. The mansion was sold to the Library of Congress and the Smithsonian Institution in 1939 and to the MPAA in 1945. Jack Valenti spearheaded the construction of the new building on the site in 1968.

Campbell Smith, principal with Trammell Crow’s MidAtlantic Business Unit, said that their goal “is to bring the building up to a trophy standard that reflects the prestige of the MPAA as an organization and appeals to a wide range of leading tenants.”

The redevelopment is expected to be completed in summer 2019.

More Biz

  • Sumner Redstone

    Judge Appoints Legal Guardian, Britney Spears' Former Conservator, for Sumner Redstone

    A probate judge on Monday appointed an independent legal guardian to represent Sumner Redstone, finding he is incapable of representing his interests in a trust battle with his former companion. Redstone, the chairman of National Amusements, Inc., is 95 and suffers from severe speech impairment and diminished mental faculties. Judge David Cowan appointed probate attorney [...]

  • IWC Schaffhausen store opening, Rodeo Drive,

    8 Luxury Gifts That Industry Leaders Are Spending Their Paychecks On

    Whether you’re celebrating a new launch, a new business venture, or toasting to the end of another successful year, here are eight gift ideas to reward yourself — and to impress the company you keep. 1. Saint Laurent Perforated Leather Tote Bag If you work in the industry, you need a good bag, and you’ve [...]

  • best airlines ranked inflight entertainment

    Holiday Travel Survey Reveals Airlines With Best In-Flight Entertainment

    There are many ways to pass the time if you’re in the air, but for most people, settling in with a glass of wine and a movie is the preferred way to fly. But not all airlines share the same script when it comes to entertainment offerings. A new survey from the website, CableTV.com, ranked [...]

  • Ventana Sur Rocks with Sales, Mass

    Ventana Sur Rocks with Sales, Mass Attendance, Structural Growth

    BUENOS AIRES — Celebrating its 10th anniversary with a huge hike in attendance to over 4,000 accredited delegates, the 2018 Ventana Sur will go down in history on multiple counts: Sales and pick-ups on movies which combined social comment and entertainment value, increasingly the new foreign-language movie standard; new sections, led by a Proyecta co-production [...]

  • Jennifer Lawrence Harvey Weinstein

    Jennifer Lawrence Denies Harvey Weinstein's Claim in Latest Assault Lawsuit

    Harvey Weinstein was hit with a lawsuit Friday from an actress who claims he forcibly performed oral sex on her, repeatedly masturbated in front of her, and threatened to harm her career if she objected. The suit details that Weinstein claimed he was trying to help her and that he was the gateway to her dreams. [...]

  • Times Up Hollywood

    Time's Up Entertainment Announces New Industry Mentoring Initiative

    Time’s Up Entertainment, an affiliate of the Time’s Up coalition of women across industries working to improve workplace safety, has announced the “Who’s in the Room” industry mentoring initiative. The program’s goal is to increase the presence of people of color from diverse backgrounds in the entertainment industry’s executive ranks. Funded by a $500,000 grant from [...]

More From Our Brands

Access exclusive content