I heard through the grapvine that the DC Design Center is being sold, and that a Bible Museum is coming to take its place. Then I saw this in the Chronicle of Philanthropy today... "
PARAMUS, N.J., Jul 05, 2012 (BUSINESS WIRE) -- VORNADO REALTY TRUST announced today that it has agreed to sell Mart segment assets, the Washington Design Center, the Boston Design Center, the L.A. Mart and the Canadian Trade Shows.
Vornado also has entered into an agreement to sell 409 Third Street S.W. for $200 million which will result in net proceeds of $186 million and a net gain of $120 million.
This office building, which is part of the Washington, DC segment is contiguous to the Washington Design Center and is being sold to the same purchaser. Both of these assets were acquired as part of the original Mart acquisition. This sale is also subject to customary closing conditions and is expected to close in the third quarter.
**This is the family that owns Hobby Lobby, so the irony is there...