Organizations become landlords for space, profit and to support others in “incubators”. By Joe Eaton With its lease set to expire in December, the nonprofit Independent Sector was facing a tough choice—it could move its Dupont Circle offices out to the suburbs or pay up to $60 per square foot for space downtown. Instead, it decided to become a landlord. In February, Independent Sector, which serves as a leadership forum for charities, foundations and corporate giving, paid $30.5 million for a nine-story building at 1602 L St. NW, three blocks from the White House. In November, the association will move into three floors of the new building and plans to lease the rest of… Read More