LARGEST HEALTH PLAN IN MID-ATLANTIC BAUX NEW REGIONAL OFFICE IN DOWNTOWN COLUMBIA®
6100 Merriweather Class-A Trophy Office Building is now 97% Rented
COLUMBIA, MD., June 14, 2022 /PRNewswire/ — The Howard Hughes Company® (NYSE: HHC) today announced that CareFirst BlueCross BlueShield (CareFirst), the Mid-Atlantic region’s largest nonprofit health plan, has leased 80,000 square feet of office space at 6100 Merriweather in downtown Columbia®. CareFirst selected Downtown Colombia as the location of its first major hub-and-spoke office as part of the company’s regional expansion strategy. The lease brings the Class A Trophy office building to 97% leased and continues to demonstrate the attractiveness of Downtown Colombia as a destination for businesses seeking the benefits of the city’s vibrant job market, with access to a well-educated workforce, quality lifestyle, and proximity to the employee bases of washington d.c.and Baltimore.
“We are delighted that CareFirst has chosen Downtown Colombia as they expand to meet the demands of today’s workforce and align talent attraction and retention with business growth,” said Greg Fitchittpresident of the Colombia area for the Howard Hughes Corporation. “The demand for offices in Downtown Colombia continues to grow as large corporations seek quality office properties in highly developed mixed-use environments integrated into open green spaces with urban walkability.”
CareFirst’s expansion into Downtown Colombia reflects the growing trend for companies to move to a “hub-and-spoke” office model, maintaining a centralized location while introducing regional “spokes” or satellite offices in cities where target employees want to live. Today’s paradigm shift requires employees to set the tone and dictate where businesses want to be located while keeping up with the educated workforce moving to communities that offer career success as well as journeys. shorter and better quality of life. Businesses and employees gravitate to this trend for the flexibility and growth opportunities it offers.
“New Downtown Colombia marks an important milestone in CareFirst’s future-ready workforce strategy,” said Angela Celestin, CareFirst’s Director of Human Resources. “To create the right work-life balance, we continuously assess the needs of our mobile and hybrid workforce while our employees can perform at their best. This approach to cultivating health in our workspaces allows us to leverage innovative solutions that promote accessibility and environmental sustainability as we expand to offices in different regions and communities. »
At 6100 Merriweather, a 12-story building offering 320,000 square feet of exclusive office space, CareFirst’s new office includes full floors on levels 3 and 4 and portions of levels 1 and 2. CareFirst joins a list of leading construction companies, including Tenable, one of the fastest growing cybersecurity software companies; Advarra, the leading provider of IRB, IBC and compliance consulting services for clinical research; Ames Watson, a private investment management company; and Insperity, a human resources and business solutions provider. Downtown Colombia attracts businesses with brand new facilities and premium security features, all in a truly connected “live-work-play” ecosystem centered on health, wellness and community.
“Downtown Colombia has seen dynamic growth over the past few years, with nearly two million square feet of new development in the Merriweather District,” said Fitchitt. “Following the strong rental velocity demonstrated by Juniper, the Merriweather District’s premier residential product, we have opened Marlow, marking the District’s largest multifamily to date at 510,000 square feet and solidifying its next phase of growth. Marlow puts tenants at the center of the Merriweather District’s pedestrian precinct with its exciting retail, innovative offices, range of housing options and restaurants such as Busboys & Poets, which has become an anchor for the extensive ongoing programming and community events at Color Burst Park.”
The announcement of CareFirst’s new office follows HHC’s recently announced plans to invest approximately $325 million in the Lakefront District, launching the next phase of Downtown Columbia rejuvenation. The new development will include a state-of-the-art medical office building, housing options and retail offerings, all exemplifying the aesthetic vision of the “city in a garden” of Columbia founder James Rouse.
Under construction, the redevelopment of Downtown Colombia will include 14 million square feet of new development on 391 acres of land. The Merriweather District will represent 4.9 million square feet of the total mixed-use development, concentrated on 35 acres set within the 100 acres of restored forests, streams and wetlands, with the historic Merriweather Post Pavilion Music Hall anchoring the cultural dynamism of the growing district.
CareFirst will custom design and build its office interiors in 2023 and open in January 2024.
CareFirst was represented in the transaction by Phil Leibow and Mike Sullivan from JLL. Howard Hughes was represented by Alex Hancock and patrick criley from Transwestern.
More information on leasing in the Merriweather District and at 6100 Merriweather, which has 10,000 square feet of office space plus additional retail space remaining for lease, can be found at officesatdtc.com/6100-merriweather.
About Downtown Columbia®
A development of The Howard Hughes Corporation®, Downtown Colombia is located in the center of Columbia, MDone of the first master-planned communities in the United States, founded by a legendary developer James W. Rouse in 1967. Ideally located between washington d.c. and Baltimore, Colombia comprises 14,000 acres, including ten completed residential villages and a deep pipeline of commercial development opportunities within its downtown area. The underdeveloped core of Colombia was the subject of an extensive five-year process that culminated in the passage through the Howard County government’s Downtown Columbia Plan in 2010, a guide to creating a vital area where residents can live, shop, work, play, exercise, and enjoy cultural opportunities in an enriched natural setting. Under construction, the redevelopment of Downtown Colombia will comprise three new and reconfigured neighborhoods – Merriweather District®, Lakefront District and Central District with over 14 million square feet of residential, office, hotel, retail, cultural and public uses, including public parks , trails and more. Among its many rankings citing safety and the exceptional art of living, Colombia was recently ranked by WalletHub as the #1 city in America for a well-paying job and the highest quality of life.
About Howard Hughes Corporation®
The Howard Hughes Corporation owns, manages and develops commercial, residential and mixed-use real estate across the United States. in New York City; Downtown Columbia®, Maryland; The Woodlands®, The Woodlands Hills® and Bridgeland® in the Greater Houston, Texas Region; Summerlin®, Vegas; Ward Village® in Honolulu, Hawaii; and Douglas Ranch in Phoenix, Arizona. The Howard Hughes Corporation 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 creating innovative places, the company is recognized for its ongoing commitment to design excellence and the cultural life of its communities. The Howard Hughes Corporation is listed on the New York Stock Exchange as HHC. For more information, visit www.howardhughes.com.
Safe Harbor Statement
Statements made in this press release that are not historical facts, including statements accompanied by words such as “will”, “believe”, “expect”, “enable”, “achieve”, “plan “, “intend”, “assume”, “”convert” and other words of similar expression, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the Management’s expectations, estimates, assumptions and projections as of the date of this release and are not guarantees of future performance. Actual results may differ materially from those expressed or implied by such statements. Factors that could cause material differences between actual results are disclosed as risk factors in The Howard Hughes Corporation’s filings with the Securities and Exchange Commission, including its quarterly reports estriel and annual. Howard Hughes Corporation cautions you not to place undue reliance on the forward-looking statements contained in this release. The Howard Hughes Corporation undertakes no obligation to publicly update or revise any forward-looking statements to reflect future events, information or circumstances that occur after the date of this release.
The Marks Guild
Associate Vice President, PR
The Howard Hughes Company
Senior Vice President, Head of Corporate Communications
For HHC Investor Relations
SOURCE The Howard Hughes Company