Sale of Bethesda, Md., campus has huge financial, operational implications, but new culture for staff, board also critical
FASEB CEO Frank Krause
Jan. 5, 2018
By William Ehart
It’s not every chief executive who becomes embroiled in a complex real estate transaction to start his tenure, but that’s what awaited Frank Krause when he became executive director of FASEB in July.
Fortunately, he was prepared—in fact, his real estate experience as COO of the American Geophysical Union was a key qualification when he got the job.
Now, FASEB is poised to sell its 11.2-acre campus on Rockville Pike in Bethesda, Md., pending final details such as county approvals for the French-language school that wants to buy the property.
The multifaceted federation of other associations now prepares to become a tenant in part of the 165,000 square-foot building complex it now owns, rather than a landlord that rents space and provides related services to member associations.