Local Business Alert: Watergate office building to be sold

---------------------------------------- Local Business News Alert: Watergate office building to be sold September 20, 2011 6:20:26 PM ---------------------------------------- The Watergate office building, home of the infamous break-in that led to President Richard M. Nixon's resignation, is under contract to be sold to District-based private equity real estate investor Penzance Cos., according to two sources familiar with the deal. The deal is expected to close later this fall according to the sources, who spoke on the condition of anonymity because the sale has not been completed. The sale would mark the second sale of the building, at 2600 Virginia Ave. NW, in six years, following a 2005 deal in which a group led by BentleyForbes, a private Los Angeles-based investor in high-end office buildings bought the property for $84.5 million from TrizecHahn Corp. http://link.email.washingtonpost.com/r/BZYGW4/ZBZ5WY/QHZAJ1/6UD34F/ZP54K/RF/h For more information, visit PostBusiness.com and Capital Business. ---------------------------------------- Get The Washington Post app for iPad, iPhone or iPod Touch. http://itunes.com/apps/thewashingtonpost ---------------------------------------- Get breaking news alerts sent to your mobile phone. Sign up by texting NEWS to 98999. Manage your e-mail subscriptions To unsubscribe, click here ---------------------------------------- ©2011 The Washington Post Company Washington Post Digital E-mail Customer Care 1150 15th Street NW Washington, DC 20071