Jan
15
Howard Hughes Corp. Nabs 2 Maryland Towers
ByBoth properties offer ample potential for redevelopment, including office, retail and multifamily projects.
Downtown Columbia StreetscapeColumbia, Md.—The Howard Hughes Corp. continues to amass a portfolio chock-full of development opportunities in the suburban Baltimore town of Columbia, Md., with the acquisition of two office properties. In transactions totaling nearly $40 million, the real estate company snapped up The American City Building and One North Mall, two downtown towers offering an aggregate 220,000 square feet of office space—and loads of potential.
With the new purchases under its belt, HHC has mixed-use on its mind, and it’s a good time to have such thoughts. “Columbia remains one of the healthiest submarkets,” Chris Bennett, principal with MacKenzie Commercial Real Estate, notes in the services firm’s third quarter 2016 report. “Mixed-use projects remain strong in this submarket as they are in others, with both downtown Columbia and Maple Lawn reaping the benefits of the ‘Live, Work, Play’ atmosphere.”…
