News

Marriott Officially Signs with The Bernstein Companies, Boston Properties to Develop New Bethesda Headquarters

Washington, D.C. (July 26, 2017) - The Bernstein Companies announced today that, in partnership with Boston Properties, it has officially signed a lease with Marriott International for the development of its new corporate headquarters in downtown Bethesda. The site will also incorporate a flagship Marriott Hotel, developed and owned by The Bernstein Companies.

The urban, mixed-use campus has been designed by the premier architectural firm Gensler. It will include a 22-story office building and a full-service flagship Marriott hotel with 230+ rooms, which are expected to open in mid-2022. The Bernstein Companies will own and develop the hotel and is pleased to have formed a joint venture partnership with Boston Properties, one of America’s leading real estate investment trusts, to co-develop and own the build-to-suit headquarters building.

“We are excited to finalize our agreement with Marriott International and to bring our combined expertise to this blue-chip company and trophy development,” said Adam K. Bernstein, president and CEO of The Bernstein Companies. “There are few companies in the world of the stature of Marriott and we are honored to team with them in this new venture and to help continue their legacy in Montgomery County.”

The site is located at 7750 Wisconsin Avenue between Wisconsin and Woodmont Avenue at Norfolk Avenue, just north of the Bethesda Metro station (red line). It has easy access to Route 495 via Woodmont Avenue and Old Georgetown Road and East-West Highway via Wisconsin Avenue. The property is also served by the Bethesda Circulator, Capital Bike Share and many local and regional bus routes. 

“Who would have thought that over 30 years ago when we acquired the Bethesdan Hotel from the Mormon Church that it would be a part of a two-acre assemblage with a development of nearly one million square feet and home to the largest hotel company in the world,” described Marc N. Duber, executive vice president and COO of The Bernstein Companies.

“After we bought the hotel, the goal was to operate it for three to five years and redevelop the property in growing downtown Bethesda” Duber said. “Over the years of successfully operating Bethesda’s boutique hotel, we joined forces with our immediate neighbors and ultimately, through several acquisitions, assembled the balance of these eight parcels. Today, we are humbled and proud to be part of this transformational project and for Montgomery County to retain Marriott International, one of Maryland’s four Fortune 500 corporations.”

Further information regarding the development can be found on the Marriott International headquarters project website at www.mhqbethesda.com.

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The Bernstein Companies is one of Washington, D.C.’s oldest and most respected real estate development, investment, and management organizations. Founded more than 80 years ago, The Bernstein Companies has been directly involved in transactions exceeding $2.5 billion, and currently holds a commercial portfolio of more than 40 properties including office buildings, land development parcels, multifamily properties and hotels. For further information, visit The Bernstein Companies’ web page at www.thebernsteincompanies.com.

Boston Properties is a fully integrated, self-administered and self-managed real estate investment trust that develops, redevelops, acquires, manages, operates and owns a diverse portfolio of primarily Class A office space, five retail properties, four residential properties (including two properties under construction) and one hotel. The Company is one of the largest owners and developers of Class A office properties in the United States, concentrated in five markets - Boston, Los Angeles, New York, San Francisco and Washington, DC. For more information about Boston Properties, please visit the Company’s web site at www.bostonproperties.com.


CONTACT

Moira Dhaliwal
Development and Asset Management Associate