Evergreen Advisors, a leading DC area investment banking and corporate advisory firm, has signed a long-term 10-year lease with the Howard Hughes Corporation for nearly 11,000 square feet of office space in Downtown Columbia on the top floor of 30 Corporate Row (10440 Little Patuxent Pkwy).
Evergreen Advisors has operated on Bendix Road in Columbia since its formation in 2000 with a second office in McLean, VA. In 2018, Evergreen committed to relocate to the ambitious Port Covington mixed-use redevelopment in Baltimore that is planned to be anchored by a new Under Armour Headquarter. However, Evergreen has backed away from the uncertain Baltimore redevelopment, instead opting to remain here in Columbia, as announced today at press conference by Evergreen CEO Rick Kohr, Howard Hughes Columbia President Greg Fitchitt, and Howard County Executive Dr. Calvin Ball.
In the press conference (video available on Facebook), Kohr cites the development of Downtown Columbia with its walkability to great restaurants and location across the street from Merriweather Park at Symphony Woods as a key reason for his company's decision to stay in Howard County. These amenities help recruit and retain employees, said Kohr.
During the press conference, Fitchitt announced that Howard Hughes will be investing $10 million to improve the streetscape, create new public spaces, improve walkability and connectiveness amongst the seven buildings it owns on Little Patuxent Parkway that make up Corporate Row, which contains nearly 1 million square feet of office space. The office buildings of these properties will also be renovated and new fitness centers, bike facilities, and locker rooms added.
From my perspective, while restaurant and retail announcements may be more exciting, office lease announcements like this are of critical importance to the success of Downtown Columbia. Not only does office leases drive tax revenue to our county, but these new jobs bring people that will patronize the restaurants and retailers, and help support and enable future growth. Downtown Columbia is happening, y'all! Live, Work, Play is on!
Here's the official news release from our County Executive's Office:
Evergreen Advisors Investment Firm Reverses Course; Recommits to Howard County
ELLICOTT CITY, MD – Evergreen Advisors, a middle market Investment Bank and Corporate Advisory Firm with offices in Columbia, MD and McLean, VA, signed a long-term lease with The Howard Hughes Corporation to relocate its headquarters to Downtown Columbia, Maryland. Previously in 2018, Evergreen Advisors announced plans to move to Baltimore to be part of the "Cyber Town USA" project at Port Covington. Photos of the event can be found here. Video can be found here. "Howard County is a leader in job growth and innovation. Over the last three years we have provided critical business support and built a tech ecosystem, allowing companies to thrive," said Howard County Executive Calvin Ball. "Evergreen's Investment Banking and Advisory Services to regional companies, including those in technology and cybersecurity, demonstrates Howard County's appeal to growing organizations. Evergreen Advisors has long called Howard County home, and we're pleased it was able to find an ideal location in Downtown Columbia." Evergreen Advisors has signed a 10-year lease with Howard Hughes for 10,932 square feet occupying the entire top floor of 30 Columbia Corporate Center, off Little Patuxent Parkway in Columbia, MD. The Company will relocate its headquarters from Bendix Road, Columbia, MD, approximately four miles away. The Columbia location already serves as a hub for the company, with over 30 employees representing Evergreen’s practice groups including Investment Banking, CFO Advisory, Business Valuation, Consulting, and Location Strategies. “We have seen significant growth in our business in recent years. This has created an opportunity to relocate and expand our headquarters in the heart of the Baltimore and Washington corridor. We explored a number of options in the region – this particular location provided us a great environment for our team with gorgeous views of Symphony Woods, walkability to restaurants, and other amenities of Columbia,” said Rick Kohr, Founder and Chief Executive Officer of Evergreen Advisors. The Mackenzie Commercial Real Estate Services, LLC team of Joe Bradley and Bill Whitty represented Evergreen Advisors in the transaction. “We are thrilled that Evergreen Advisors, a dynamic leader in investment banking and corporate advisory for the Mid-Atlantic region, has chosen Corporate Row and Downtown Columbia as its new home,” said Greg Fitchitt, President, Columbia, The Howard Hughes Corporation. “Sharing a commitment to growth and innovation, we are proud to provide the Evergreen team with a location offering the best of the ‘work, live, play-lifestyle’. HHC’s simultaneous investment in Corporate Row will enhance the amenity-rich ecosystem with increased walkability and community spaces.” About Evergreen Advisors Evergreen Advisors is a middle market investment bank and corporate advisory firm focused on servicing organizations throughout their financial lifecycles to drive successful outcomes. Serving the Mid-Atlantic region including Maryland, Washington D.C., Virginia, and Pennsylvania, Evergreen Advisors, LLC was formed in 2001 to provide innovative and strategic solutions to meet our clients’ evolving business needs. Securities transactions conducted through Evergreen Advisors Capital/Member FINRA/SIPC. https://evergreenadvisorsllc.com/
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on target re importance of office leasing as financial undermining for making downtown Columbia consumer-friendly both for apt. dwellers and houses nearby.