Transwestern To Manage Over 1,800,000 Square Feet Of Office Leasing For HHC As Development Continues in Burgeoning Third City In Baltimore/Washington Corridor
The Howard Hughes Corporation® (NYSE: HHC) today announced that Transwestern Real Estate Services has been named its new leasing partner in Downtown Columbia® where it will represent the company’s commercial leasing portfolio in the growing urban and commercial hub of Columbia, MD, recently ranked by Niche.com among the top ten Best Cities to Live in America.
“Transwestern is a dynamic and entrepreneurial leader in their field who aligns with our bold vision for Downtown Columbia as the vibrant and culturally rich “third city” conveniently located between Washington, DC, and Baltimore,” said Greg Fitchitt, President, Columbia, The Howard Hughes Corporation. "We are excited to work with Transwestern in our leasing efforts as they bring extensive knowledge from their experience in multiple markets.”
In addition to the commercial buildings within the Merriweather District, Transwestern will be responsible for leasing the full complement of HHC’s office portfolio in Downtown Columbia which includes Corporate Row’s office buildings near The Mall in Columbia and the Lakefront District’s current and future commercial office properties.
Demand for office space in Downtown Columbia continues to grow, both within Merriweather District’s brand-new trophy office building 6100 Merriweather and in its new retail and residential developments. As of December 31, 2020, 6100 Merriweather was more than 63 percent leased, and Juniper, the new apartment building delivered just 12 months ago, was 62 percent leased. Both buildings continue to show exceptionally strong leasing momentum in 2021.
“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,” Fitchitt said.
Based in Houston, TX, Transwestern is a privately held real estate company established in 1978. Today, the firm operates through 34 offices across the U.S. as well as global alliances with BNP Paribas Real Estate and Devencore, and offers agency leasing, tenant advisory, capital markets, asset services and research to owners of commercial real estate.
“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,” said Alex Hancock, Executive Vice President at Transwestern. “We look forward to building on the momentum underway and supporting our client’s bold vision for this thriving market.”
The announcement of Transwestern follows close on the heels of two major milestones for Downtown Columbia: news that five new businesses will be relocating their offices to Downtown Columbia in the first quarter of 2021, and the unveiling of Marlow, a new 7-story, 510,000-square-foot, 472-unit residential apartment building. These new developments solidify the next phase of growth for the Merriweather District neighborhood, which is rapidly becoming a vital destination within the region. 2021 has already seen the opening of the Indian fusion restaurant Clove and Cardamom and Baltimore-favorite ice cream shop The Charmery, with The Food Market, Dok Khao Thai Eatery, and popular regional restaurant Busboys and Poets all set to open in Downtown Columbia in the spring and early summer.
With 1.7 million square feet of new, mixed-use development in the Merriweather District now complete or under construction, the redevelopment of Downtown Columbia will include 14 million square feet of new development on 391 acres of land at full buildout. 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 set within 100 acres of forests, streams and restored wetlands.
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 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 Transwestern Real Estate Services
Transwestern 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.
