Transwestern to Lease 1.8 Million SF Office Portfolio in Columbia, Maryland
May 06, 2021
WASHINGTON – Transwestern Real Estate Services (TRS) announces it has been named the exclusive leasing partner for The Howard Hughes Corporation®(HHC), a Texas-based real estate development and management company regionally headquartered in Downtown Columbia, Maryland. Transwestern Executive Vice President Alex Hancock will lead the mid-Atlantic team in providing leasing services for the Downtown Columbia office portfolio, which includes 12 existing office buildings consisting of over 1.8 million square feet of existing space and over 3.6 million square feet of entitled future office development.
“We are thrilled to establish this partnership with The Howard Hughes Corporation and to be a part of the tremendous growth the team is creating across Downtown Columbia. We look forward to building on the momentum they have established within this thriving market.” said Hancock.
Transwestern will manage leasing for the entirety of HHC’s Downtown Columbia office properties, including 6100 Merriweather, One Merriweather, Two Merriweather, and the new office developments in the Merriweather District; the Corporate Row buildings and One Mall North in the Central District; and the Teachers Building and future office developments in the Lakefront District.
At full build-out, the redevelopment of Downtown Columbia will include 14 million square feet of new development on 391 acres. Merriweather District will make up 4.9 million square feet of the total mixed-use development and will be concentrated on 35 acres of developable land within 100 acres of protected forests, streams and restored wetlands.
“With the Transwestern team leasing our full office portfolio, I am confident that we will continue to attract the major tenants and deliver the results that are integral to our success in fulfilling our vision for Downtown Columbia,” said Greg Fitchitt, President, Columbia, The Howard Hughes Corporation.
Hancock’s leasing team was recently recognized for its role in securing a 400,000-square-foot, long-term tenancy at Reston Town Center. Notably, in 2020, a year in which leasing velocity faced major headwinds from the global pandemic, Transwestern completed approximately 700,000 square feet of leasing transactions in the Mid-Atlantic region.
About The Howard Hughes Corporation®
The Howard Hughes Corporation owns, manages, and develops commercial, residential, and mixed-use real estate throughout the U.S. Its award-winning assets include the country’s preeminent portfolio of master planned communities, as well as operating properties and development opportunities including: the Seaport District in New York; Downtown Columbia®, Maryland; The Woodlands®, The Woodlands Hills®, and Bridgeland® in the Greater Houston, Texas area; Summerlin®, Las Vegas; and Ward Village® in Honolulu, Hawai?i. The Howard Hughes Corporation’s portfolio is strategically positioned to meet and accelerate development based on market demand, resulting in one of the strongest real estate platforms in the country. Dedicated to innovative placemaking, the company is recognized for its ongoing commitment to design excellence and to the cultural life of its communities. The Howard Hughes Corporation is traded on the New York Stock Exchange as HHC. For additional information, visit www.howardhughes.com.
About Downtown Columbia®
A development of The Howard Hughes Corporation®, Downtown Columbia is located at the center of Columbia, MD, one of the first master planned communities in the U.S., founded by legendary developer James W. Rouse in 1967. Conveniently located between Washington, DC, and Baltimore, Columbia is comprised of 14,000 acres including ten completed residential villages and a deep pipeline of commercial development opportunities within its downtown. The underdeveloped core of Columbia became the subject of an extensive five-year process that culminated with the passage by the Howard County government of the Downtown Columbia Plan in 2010, a guide to creating a vital area in which residents can live, shop, work, entertain, exercise, and enjoy cultural opportunities in an enriched natural setting. At full buildout, the redevelopment of Downtown Columbia will include three new and reconfigured neighborhoods—Merriweather District®, Lakefront District and Central District—featuring more than 14 million square feet of residential, office, hotel, retail, cultural, and public uses including public parks, trails and more. Named #1 Small City in America by Money Magazine in 2016, Columbia has been named the #1 Safest City in America three years in a row by WalletHub.
About Transwestern Real Estate Services
ranswestern Real Estate Services (TRS) adds value for investors, owners and occupiers of all commercial property types through a comprehensive perspective and by providing solutions grounded in sound market intelligence. Part of the Transwestern companies, the firm applies a consultative approach to Agency Leasing, Asset Services, Tenant Advisory + Workplace Solutions, Capital Markets, and Research & Investment Analytics.
The privately held Transwestern companies have been delivering a higher level of personalized service and innovative real estate solutions since 1978. An integrated approach formed from fresh ideas drives value for clients across commercial real estate services, development, investment management and opportunistic programs for high-net-worth investors. The firm operates through 34 U.S. offices and global alliances with BNP Paribas Real Estate and Devencore. Learn more at transwestern.com and @Transwestern.