Marx Realty, Invesco Real Estate Partner on $75M Office Project in D.C.
New York-based owner, developer and manager Marx Realty has entered into a partnership with Invesco Real Estate for the $75 million redevelopment of The Herald, a 134,000-square-foot office building in Washington D.C.
Located at 1307 New York Ave., The Herald is a Beaux Arts-style building and was formerly home to the printing presses and offices of the Washington Times-Herald. The building will be transformed into a hotel-like office building. Plans for the repositioning include a top-to-bottom hospitality-inspired reimagining of the space beginning with an updated entry portal and intimate rotunda that opens to an expansive lobby with a floor-to-ceiling copper and glass feature wall inspired by traditional linotype printing machines.
“We are delighted to partner with Invesco Real Estate in our hospitality-infused office product,” said Craig Deitelzweig, president and CEO at Marx Realty. “The Herald is a truly unique project in Washington, D.C. because of the unparalleled emphasis on design. Invesco Real Estate’s interest in partnering with us supports our belief that the amazing sensory office experience we pioneered will continue attracting marquis tenants at premium rents.”
David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector.
Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA.
David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.