Radio One Relocates HQ To Silver Spring, MD
April 29, 2011 at 3:54 AM (PT)
After years of flirting with the idea of moving to WASHINGTON, D.C., RADIO ONE is moving its corporate headquarters from LANHAM, MD to SILVER SPRING, MD. THE WASHINGTON POST reports that RADIO ONE, "owner of 53 Urban radio stations in 16 markets nationwide, pursued a move to the DISTRICT before the economy battered the radio broadcasting industry and the real estate market. It would have anchored a new mixed-use project atop a Metrorail station in the Shaw neighborhood."
MOORE & ASSOCIATES told THE POST that TV ONE "extended its lease and the RADIO ONE corporate headquarters will relocate to 23,000 square feet of space in SEPTEMBER."
"We were always kind of in the running, so to speak," said MOORE & ASSOCIATES EVP VINCE COVIELLO. "We had some timely turnover of space, so the top floor became available and some space below that."
MARYLAND Gov. MARTIN O’MALLEY reportedly pushed through a $400,000 grant that requires RADIO ONE to invest at least $1.25 million in the move by the end of 2012 and maintain at least 210 employees there throughout the six-year lease.