WASHINGTON, Nov. 30, 2016 /PRNewswire/ -- Roadside Development, a privately held commercial real estate firm and its joint venture partner NORTH AMERICA SEKISUI HOUSE, LLC (NASH), are pleased to announce the purchase of the iconic Fannie Mae Headquarters located at 3900 Wisconsin Avenue in Washington, DC. The acquisition includes a 228,000 square foot building and approximately 10 acres of land.
Roadside Development is known for its adaptive reuse of commercial properties and cultivating lasting relationships with communities including its most recent venture City Market at O, a 1M square foot development located in the Shaw neighborhood of Washington, DC. NORTH AMERICA SEKISUI HOUSE, LLC (NASH) is the U.S. business unit and full subsidiary of SEKISUI HOUSE, Ltd, Japan's largest homebuilder and leading diversified developer. Together, these companies share a common vision for creating a new development that blends mindful planning with design excellence for a dynamic mix of innovation, sustainability and superior quality to create long-term value for the community.
"We are honored to partner with NASH in the acquisition of this iconic property. We look forward to working with the community as we consider redevelopment of the property following Fannie Mae's departure," said Richard Lake, Founding Principal of Roadside Development.
Fannie Mae Headquarters will relocate to 1100 15th Street, NW in Washington, DC. The company will remain at 3900 Wisconsin Avenue until its new headquarters are complete. During this time, Roadside Development will work with local officials and community leaders to further define the collective vision for the redevelopment including both design and usage.
Originally built in 1958, the Fannie Mae Headquarters is part of the architectural composition and fabric of the neighborhood. The property is ideally situated along Wisconsin Avenue surrounded by high-density neighborhoods and acres of public parks. As a locally based real estate developer, Roadside Development is committed to improving the communities of which they also live and work and will bring this same level of commitment to the redevelopment of 3900 Wisconsin Avenue.
About Roadside Development:
Roadside Development is a Washington DC-based real estate firm that values and invests in people and communities. Roadside Development utilizes its successful team-oriented strategy with regard to the acquisition of assets, land-use planning, site development, construction management, retail leasing, and asset management. Roadside Development's vast experience and in-depth market knowledge, creativity and flexibility is the driving force behind its ability to secure prime opportunities and craft them into unique, vibrant places to learn, live, work, and shop. Roadside Development is best known for the successful adaptive reuse of City Market at O and Cityline at Tenley. Learn more at www.roadsidedevelopment.com
About NORTH AMERICA SEKISUI HOUSE, LLC (NASH):
NASH is the U.S. business operations unit and a full subsidiary of SEKISUI HOUSE, LTD., Japan's largest homebuilder and a leading diversified developer since 1960. NASH establishes joint ventures to build innovative and sustainability-conscious mixed-use and master planned communities. NASH is based in Arlington, Virginia, and SEKISUI HOUSE is headquartered in Osaka, Japan, with affiliates and subsidiaries around the globe. www.nashcommunities.com
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SOURCE Roadside Development