WASHINGTON, Oct. 11 (UPI) -- The office building at the Watergate complex in Washington where the history-making break-in occurred in 1972, has been sold for $86.5 million.
The famous 11-story office was sold by Trizec Properties of Chicago to Los Angeles-based BentleyForbes LLC, reports The Washington Post. In 1972, it housed the Democratic National Committee headquarters. The break-in eventually brought down the presidency of Richard M. Nixon.
"We think it's a unique asset with an interesting history and with a stable income in a unique location," said David W. Cobb, president of BentleyForbes. "We're going to update the elevators, spruce it up. We're going to try to keep more of the original aesthetics but update it and make it a little bit nicer."
Cobb said his company, founded in 1993, owns about 8 million square feet of office space in 14 states, including Texas, California and Ohio.