WASHINGTON — ASAE announces that 1575 Eye Street, the building where they have a limited partnership and have been occupants since 1980, was sold to Duwaliya US Real Estate, Inc. With the limited partnership, ASAE will receive a portion of the sale. Exact amount of distribution to ASAE after taxes and expenses of the sale has not been determined. ASAE’s lease runs through 2025.

“When one of the partners in the building wanted to sell their share, ASAE approached the Board of Directors and they approved ASAE to move forward with selling our limited partnership. After closing costs, taxes and other expenses are finalized, ASAE will work with the Board of Directors to determine how to best invest the monies received into our programs, products and services,” said ASAE President & CEO John H. Graham, IV, FASAE, CAE.

There will be no impact in the daily operations of ASAE and ASAE’s Conference Center. Executive Vice Presidents Tom Fulcher and Arthur Greenberg of Savills Studley represented ASAE on the extension of its lease, as part of the sale of the building. Savills Studley is an ASAE-Endorsed Business Solutions partner.

Any questions regarding the building sale, please contact ASAE’s Chief Administrative Officer Robert Skelton, CAE at rskelton@asaecenter.org.

MEDIA CONTACT: Sabrina Kidwai, APR, CAE, skidwai@asaecenter.org, 202-326-9505.

About ASAE: The Center for Association Leadership
ASAE is a membership organization of more than 21,000 association executives and industry partners representing 9,300 organizations. Its members manage leading trade associations, individual membership societies and voluntary organizations across the United States and in nearly 50 countries around the world. With support of the ASAE Foundation, a separate nonprofit entity, ASAE is the premier source of learning, knowledge and future-oriented research for the association and nonprofit profession, and provides resources, education, ideas and advocacy to enhance the power and performance of the association and nonprofit community. For more information about ASAE, visit www.asaecenter.org.