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John Hopkins University Buying D.C.’s Newseum Building for $373M
The Freedom Forum is selling the 250,000-square-foot building in Washington, D.C. that houses the Newseum to John Hopkins University for $372.5 million. The academic institution will use the property at 555 Pennsylvania Ave. as a new consolidated center for its D.C.-based graduate programs. Built in 2008, the facility will remain open to the public through 2019.
The decision to sell the seven-level asset that’s facing unsustainable operating costs followed a 16-month review. The Freedom Forum, the facility’s creator and primary funder, determined a sale was the best option to enable it and its affiliates to continue their First Amendment-based mission.
Freedom Forum’s Jan Neuharth says, “We remain committed to continuing our programs – in a financially sustainable way – to champion the five freedoms of the First Amendment and to increase public awareness about the importance of a free and fair press. With today’s announcement, we can begin to explore all options to find a new home in the Washington, D.C. area.”
For comments, questions or concerns, please contact Dennis Kaiser
Photo Credit: Sam Kittner/Newseum
- ◦Sale/Acquisition
