The Medical Realty Company Will Manage 200,000 Square Feet of Commercial Leasing Space in Downtown Columbia’s Highly Anticipated Lakefront Neighborhood
COLUMBIA, MD (February 20, 2019) – The Howard Hughes Corporation® (NYSE: HHC) announced today that Gittleson Zuppas Medical Realty, Inc. (GZ) has been engaged to lease commercial medical space within the Lakefront District of Downtown Columbia, the newest neighborhood to be introduced following the groundbreaking of Merriweather District. The Howard Hughes Corporation is transforming Downtown Columbia—which has over two million square feet already delivered or under construction—into a true walkable, urban core. The burgeoning Merriweather District has already attracted leading companies in the medical and cybersecurity sphere, including MedStar Health and Tenable® Inc.
The Lakefront District will offer approximately three million square feet of highly-amenitized, mixed-use space for medical and traditional offices, a variety of residential product types and dynamic retail. Enriched by the natural setting of trees and Lake Kittamaqundi, Lakefront District will be largely positioned as a health and wellness neighborhood designed to disrupt the traditional medical office park.
The Lakefront District is designed to minimize automobile traffic, uniquely connected to walkable and bikeable pathways that encourage pedestrians and cyclists to travel without car to Merriweather Post Pavilion, Symphony Woods or The Mall in Columbia, as well as to enjoy the natural settings of Lake Kittamaqundi and nearby Wilde Lake. The density and design of the Lakefront District also encourages organic social interactions and inclusive opportunities for functional exercise as people go about their daily living – whether at home, work, stores and restaurants, or in outdoor green spaces and parks.
“As we enter this new phase of development for the Lakefront District, we are looking forward to working with Gittleson Zuppas with their rich depth of medical leasing knowledge,” said Greg Fitchitt, President, Columbia, The Howard Hughes Corporation. “With the Lakefront, we are excited to continue building Downtown Columbia as a regional hub, with a focus on health, wellness and fitness. Our partnership with Gittleson Zuppas plays a vital role as we continue to attract companies that are key players in creating a health and wellness ecosystem.”
Currently, Lakefront District tenants promoting healthy living include Haven On The Lake wellness retreat center and Whole Foods Market, located within the Frank Gehry-designed building from the community’s James Rouse era, located on the edge of the Lake Kittamaqundi.
“Downtown Columbia is being reimagined with new live-work-play opportunities, including dynamic retail, abundant restaurant choices, a modernized Merriweather Post Pavilion within the rapidly expanding Merriweather District, and more,” said David Gittleson, Principal, Gittleson Zuppas. “We are excited to have been chosen to help The Howard Hughes Corporation realize its vision for the Lakefront District as a holistic health and wellness community,”
About Gittleson Zuppas Medical Realty
Gittleson Zuppas Medical Realty was established almost 30 years ago as a specialty real estate firm servicing the medical tenant market. GZ has since expanded to represent medical landlords and hospital systems throughout the Washington, D.C. and Baltimore areas. As the market leader in medical real estate in the DMV, GZ’s superior reputation for honesty comes from good faith dealings with tenants, landlords and the brokerage community. In addition to their new contract with The Howard Hughes Corporation®, GZ currently represents more than 4 million square feet in 50 premier locations and has represented thousands of medical tenants in medical-office lease transactions since the company’s inception.
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; Columbia, Maryland; The Woodlands®, The Woodlands Hills, and Bridgeland® in the Greater Houston, Texas area; Summerlin®, Las Vegas; and Ward Village® in Honolulu, Hawaiʻi. 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, D.C. 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. 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. 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. More information is available at www.howardhughes.com/properties/downtown-columbia.
Safe Harbor Statement
Statements made in this press release that are not historical facts, including statements accompanied by words such as “will,” “believe,” “expect,” “enables,” “realize”, “plan,” “intend,” “assume,” “transform” 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 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 in these statements. Factors that could cause actual results to differ materially are set forth as risk factors in The Howard Hughes Corporation’s filings with the Securities and Exchange Commission, including its Quarterly and Annual Reports. The Howard Hughes Corporation cautions you not to place undue reliance on the forward-looking statements contained in this release. The Howard Hughes Corporation does not undertake any obligation to publicly update or revise any forward-looking statements to reflect future events, information or circumstances that arise after the date of this release.
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