Metro News Release

For immediate release: June 11, 2009

Metro enters lease agreement with Broadcast Center Partners, LLC at Shaw-Howard University Metrorail station

Company will have option to purchase easement rights at north entrance

The Metro Board of Directors approved a lease to Broadcast Center Partners, LLC (BCP) for easements on Metro property at the north entrance of the Shaw-Howard University Metrorail station. The agreement also includes an option to purchase various easement rights from Metro.

BCP is developing a property adjacent to the Shaw-Howard Metrorail station and requested easements in and around the station’s elevator and escalator, as well as underground easements for portions of its parking garage and building footings. The BCP property will include 105,000 square feet of commercial office space, anchored by Radio One, 23,000 square feet of retail space and 180 residential units.

The lease will benefit Metro, the developer and the District of Columbia. Metro realizes income from property, while BCP is able to use Metro’s air space and underground easements without the need to redesign its project. Further, the District of Columbia stands to benefit from the redevelopment of the theater and arts district, and additional development around the Shaw-Howard University Metrorail station.

The 99-year lease is worth $1.2 million to Metro. BCP will make an initial payment of $336,000 and $61,413 each year in rent. The company also has an option to terminate the lease and purchase easements rights. Revenue from the deal will go to the Transit Infrastructure Investment Fund.

Media contact for this news release: Cathy Asato or Lisa Farbstein at 202-962-1051.

News release issued at 12:59 pm, June 11, 2009.