Transactions - JULY 28, 2017

The Bernstein Cos. and Boston Properties to develop $600m Marriott HQ

by Andrea Waitrovich

The Bernstein Cos. and Boston Properties will develop the $600 million Marriott urban campus headquarters and flagship hotel at 7750 Wisconsin Ave. in downtown Bethesda, four blocks from the Bethesda Metro station.

The project includes a 22-story, build-to-suit office space and a 230-key flagship hotel to be owned by Bernstein and managed by Marriott International. It is scheduled to completed and occupied sometime in 2022.

JLL said it is the largest private sector lease transaction in suburban Maryland since 2000.

The Marriott hotel will feature more than 8,000 square feet of flexible meeting and ballroom space and a variety of dining and social amenities, including a ground-floor restaurant with outdoor dining, a specialty coffee shop and a seasonal rooftopdining terrace. An 800-space underground parking area for the hotel and office building will also be developed as part of the project.

Bernstein owns the land and will build the hotel, while Boston Properties will join in the development of the office tower.
Other ongoing projects in the area include: Carr Properties breaking ground its Apex Building; JBG Smith developing its headquarters; and StonebridgeCarras planning a 500,000-square-foot mixed-use development.

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