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Foulger-Pratt reveals new name, time frame for Discovery remake

Daniel J. Sernovitz

Foulger-Pratt plans to kick off its roughly $15 million renovation to Discovery Inc.'s Silver Spring headquarters this summer as the building's namesake tenant moves to its new home in New York. Discovery (NASDAQ: DISCA) began moving out of One Discovery Place about two months ago, and its lease at the 550,000-square-foot office building expires at the end of March. With the company's planned departure, Foulger-Pratt and partner Cerberus Capital Management hope to reposition the building for multiple tenants.