Armada Hoffler Announces 35,000 Square Foot Office Lease with Stifel Financial Corp.

Rhea-AI Summary

On July 9, 2024, Armada Hoffler (NYSE: AHH) announced that Stifel Financial Corp. (NYSE: SF) has leased 35,000 square feet of office space at the Wills Wharf building in the Harbor Point community, Baltimore. This lease highlights the strong demand for Armada Hoffler’s office spaces, which are 98% leased across Harbor Point's over one million square feet. Stifel's new location, offering panoramic waterfront views, will contribute to the vibrant business ecosystem of Harbor Point. CEO Lou Haddad expressed excitement over the lease, emphasizing Harbor Point's status as a prime choice for innovative companies. This deal, brokered by JLL for Armada Hoffler and Cushman & Wakefield for Stifel, further enhances the area’s appeal as a premier destination for business, living, and entertainment.

Positive

• Stifel Financial Corp. leases 35,000 square feet in Wills Wharf, part of Armada Hoffler’s Harbor Point community.
• Armada Hoffler's office space at Harbor Point is 98% leased across over one million square feet.
• Stifel's lease at Harbor Point highlights the area's status as a premier business destination in Baltimore.

Negative

• None.

The financial services company solidifies presence in vibrant Harbor Point community

VIRGINIA BEACH, Va., July 09, 2024 (GLOBE NEWSWIRE) -- Armada Hoffler (NYSE: AHH) announces that Stifel Financial Corp. (NYSE: SF), a premier wealth management and investment banking firm, has leased 35,000 square feet of prime office space within the prestigious Wills Wharf building, located within their mixed-use Harbor Point community on the Baltimore waterfront. The Company’s over one million square feet of office space at Harbor Point is 98% leased; representing the continued demand for companies to locate their workforce in vibrant mixed-use communities.

Stifel's decision to establish a presence at Wills Wharf underscores Harbor Point’s reputation as the premier mixed-use destination for leading companies looking to thrive in Baltimore's growing business landscape. With its panoramic waterfront views and diverse business ecosystem, Wills Wharf offers an unparalleled work environment that fosters collaboration, creativity, and success.

"We are excited to welcome Stifel to Harbor Point," said Lou Haddad, Chief Executive Officer at Armada Hoffler. "Their decision to lease space at Wills Wharf further solidifies Harbor Point's status as the top choice for innovative companies seeking a strategic location and exceptional amenities."

The relocation to Harbor Point represents not only a significant investment in the future of Stifel’s business, but also a commitment to being part of a thriving community. As Harbor Point continues to evolve into one of Baltimore's most sought-after destinations for work, living, and entertainment, Stifel's presence further enhances the area's appeal and vitality.

Peter Jackson of JLL represented Armada Hoffler in the transaction. David Downey Jr. and Courtenay Jenkins of Cushman & Wakefield represented Stifel Financial Corp.

In addition to Wills Wharf, Armada Hoffler’s Harbor Point assets include both Constellation and Thames Street Wharf office buildings, as well as 1405 Point and 1305 Dock Street apartments and retail. The Company is also in partnership with Harbor Point master developer, Beatty Development Group, to build mixed-use developments, Allied | Harbor Point and T. Rowe Price’s new global headquarters in Harbor Point.

About Armada Hoffler
Armada Hoffler is a vertically integrated, self-managed real estate investment trust ("REIT") with over four decades of experience developing, building, acquiring, and managing high-quality, institutional-grade office, retail, and multifamily properties located primarily in the Mid-Atlantic and Southeastern United States. In addition to developing and building properties for its own account, the Company also provides development and general contracting construction services to third-party clients. Founded in 1979 by Daniel A. Hoffler, the Company has elected to be taxed as a REIT for U.S. federal income tax purposes. For more information, visit ArmadaHoffler.com.

Contact:
Chelsea Forrest
Armada Hoffler
Director of Corp. Comms. and Investor Relations
Email: cforrest@armadahoffler.com
Phone: (757) 366-4000

FAQ

What company recently leased office space from Armada Hoffler (AHH)?

Stifel Financial Corp. (NYSE: SF) recently leased 35,000 square feet of office space from Armada Hoffler at Wills Wharf in the Harbor Point community.

How much of Armada Hoffler's Harbor Point office space is leased?

98% of Armada Hoffler's over one million square feet of office space at Harbor Point is leased.

Why is Stifel Financial Corp.'s lease significant to Harbor Point?

Stifel Financial Corp.'s lease is significant as it underscores Harbor Point's reputation as a premier mixed-use destination, enhancing its appeal as a thriving business community.

When did Armada Hoffler announce the lease with Stifel Financial Corp.?

Armada Hoffler announced the lease with Stifel Financial Corp. on July 9, 2024.

What features make Wills Wharf an attractive location for businesses?

Wills Wharf offers panoramic waterfront views and a diverse business ecosystem, fostering a collaborative and creative work environment.