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Capital Business
Posted at 06:14 PM ET, 07/16/2013

Church deal for National Labor College campus in White Oak falls apart

For those interested in buying a leafy campus in White Oak for $30 million or so, you’re in luck.

The National Labor College announced in May that it planned to sell its 47-acre campus to a partnership between Reid Temple African Methodist Episcopal mega-church and the quasi-independent Housing Opportunities Commission of Montgomery County.

But the deal has fallen through, National Labor College President Paula E. Peinovich acknowledged Tuesday. Peinovich declined to cite a reason for the deal’s failure but said the college had hired CBRE to begin marketing the property anew.

“That plan did not go forward as we had anticipated,” Peinovich said. “But the property is back on the market and we have a new realtor, CBRE, and I expect the marketing materials will be available early next week.”

The property, near the intersection of New Hampshire Avenue and the Capital Beltway, currently includes 10 buildings, including dormitories, classrooms, offices and a 74,000-square-foot conference space. Georgetown University and Montgomery College had expressed interest in the site for expansion.

The AFL-CIO-affiliated school planned to relocate to downtown Silver Spring to meet the changing needs of its students.

Follow Jonathan O’Connell on Twitter: @oconnellpostbiz

By  |  06:14 PM ET, 07/16/2013

Tags:  National Labor College, Georgetown University, commercial real estate

 
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