{"id":1004110032,"date":"2014-12-23T07:15:27","date_gmt":"2014-12-23T15:15:27","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=315008"},"modified":"2020-05-19T05:23:29","modified_gmt":"2020-05-19T13:23:29","slug":"the-howard-hughes-corporation-buys-six-downtown-columbia-office-buildings-for-130m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/the-howard-hughes-corporation-buys-six-downtown-columbia-office-buildings-for-130m\/","title":{"rendered":"The Howard Hughes Corporation Buys Six Downtown Columbia Office Buildings for $130M"},"content":{"rendered":"<p style=\"text-align: justify;\"><em>By Adrian Maties, Associate Editor<\/em><\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/12\/Columbia-Corporate-Center.gif\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-315009\" title=\"Columbia Corporate Center\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/12\/Columbia-Corporate-Center-156x300.gif\" alt=\"\" width=\"156\" height=\"300\" \/><\/a>The Howard Hughes Corporation is expanding its Maryland portfolio. In one of the largest transactions of the year, in the Greater Baltimore area, the Dallas-based company purchased six office buildings in Downtown Columbia from General Growth Properties, Inc. The sale price was $130 million.<\/p>\n<p style=\"text-align: justify;\">Howard Hughes\u2019 new properties are more commonly known as 10 &#8211; 60 Columbia Corporate Center. Together, they offer about 700,000 square feet of office space. At the time of the sale, the six buildings were 90 percent leased. They are:<\/p>\n<ul style=\"text-align: justify;\">\n<li>10 Corporate Center &#8211; a four-story building, with approximately 90,000 square feet;<\/li>\n<li>20 Corporate Center &#8211; a five-story building, with approximately 110,000 square feet;<\/li>\n<li>30 Corporate Center &#8211; a 12-story building, with approximately 135,000 square feet;<\/li>\n<li>40 Corporate Center &#8211; a 12-story building, with approximately 150,000 square feet;<\/li>\n<li>50 Corporate Center &#8211; a seven-story building, with approximately 120,000 square feet;<\/li>\n<li>60 Corporate Center &#8211; a six-story building, with approximately 110,000 square feet.<\/li>\n<\/ul>\n<p style=\"text-align: justify;\">With this acquisition, Howard Hughes now owns more than 1.1 million square feet of commercial space in Downtown Columbia. According to Cushman &amp; Wakefield this represents 50 percent of the area\u2019s total office market.<\/p>\n<p style=\"text-align: justify;\">The Dallas-based company also owns 70 Columbia Corporate Center, located adjacent to 10 &#8211; 60 Columbia Corporate Center. This nine-story, 170,000-square-foot Class \u2018A\u2019 office building was acquired in August 2012. Howard Hughes redeveloped the property and brought its occupancy to 99 percent. Tenants include the Enterprise Community Foundation and GP Strategies, Inc.<\/p>\n<p style=\"text-align: justify;\">\u201cThe acquisition of the Columbia Corporate Center office buildings reinforces our long-term commitment to Downtown Columbia,\u201d Grant Herlitz, president of The Howard Hughes Corporation, said in a press statement. \u201cCombined with our larger commercial portfolio and wide array of product offerings, we now have the flexibility to meet our existing tenants\u2019 space needs while also attracting new businesses and jobs to Downtown Columbia.\u201d<\/p>\n<p style=\"text-align: justify;\"><em>Photo credit: <a href=\"https:\/\/columbiacorporatecenter.info\" rel=\"nofollow\" >columbiacorporatecenter.info<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Howard Hughes Corporation is expanding its Maryland portfolio. In one of the largest transactions of the year, in the Greater Baltimore area, the Dallas-based company purchased six office buildings in Downtown Columbia from General Growth Properties, Inc. The sale price was $130 million.<\/p>\n","protected":false},"author":925,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1579,21742],"tags":[3288],"class_list":["post-1004110032","post","type-post","status-publish","format-standard","hentry","category-baltimore","category-latest","tag-columbia"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>The Howard Hughes Corporation Buys Six Downtown Columbia Office Buildings for $130M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/the-howard-hughes-corporation-buys-six-downtown-columbia-office-buildings-for-130m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Howard Hughes Corporation Buys Six Downtown Columbia Office Buildings for $130M\" \/>\n<meta property=\"og:description\" content=\"The Howard Hughes Corporation is expanding its Maryland portfolio. In one of the largest transactions of the year, in the Greater Baltimore area, the Dallas-based company purchased six office buildings in Downtown Columbia from General Growth Properties, Inc. 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