Transamerica Signs Lease for 35,000 Square Feet at Wills Wharf in Baltimore's Harbor Point

Rhea-AI Summary

Armada Hoffler Properties (NYSE: AHH) announced that Transamerica will lease 35,000 square feet on the 8th floor of Wills Wharf, increasing the building's lease rate to 58%. Wills Wharf is a 325,000 square foot LEED Silver mixed-use facility located at Baltimore’s Inner Harbor. This addition of Transamerica, alongside companies like T. Rowe Price and EY, reinforces Harbor Point's status as a prime development area. The property boasts waterfront views and is close to amenities. Armada Hoffler, with over four decades of experience, also develops and manages various properties across the Mid-Atlantic and Southeastern U.S.

Positive

• Transamerica's lease increases Wills Wharf's occupancy to 58%.
• Wills Wharf features over 325,000 square feet of Class A office and hotel space.
• Harbor Point positions itself as a premier mixed-use development site in Baltimore.

Negative

• None.

VIRGINIA BEACH, Va., May 25, 2021 (GLOBE NEWSWIRE) -- Armada Hoffler Properties, Inc. (NYSE: AHH) today announced that Transamerica has agreed to lease the 35,000 square foot 8^th floor of the Wills Wharf office building at Harbor Point. With Transamerica, EY, Jellyfish, Bright Horizons, and Canopy by Hilton, Wills Wharf is now 58% leased.

Positioned at the gateway to Baltimore’s Inner Harbor, Wills Wharf is a LEED Silver mixed-use building offering 325,000 square feet of Class A office and premier hotel space. With unparalleled waterfront views, Wills Wharf is located within walking distance to all amenities and open spaces that Harbor Point has to offer. Situated between Harbor East and Fell’s Point, Harbor Point is Baltimore’s largest downtown waterfront development site with capacity for up to three million square feet of mixed-use space on 27 acres. In addition to Wills Wharf, Armada Hoffler Properties’ Harbor Point assets include both the Thames Street Wharf office building and 1405 Point apartments and retail. The Company is also in partnership to develop and build T. Rowe Price’s new global headquarters at Harbor Point.

“Transamerica joins an already impressive roster of global companies – T. Rowe Price, Exelon, Morgan Stanley, and EY – all of whom call Harbor Point home,” said Lou Haddad, President & CEO of Armada Hoffler Properties. “Transamerica’s commitment to Wills Wharf further validates Harbor Point as the premier mixed-use development in the market. We are excited to welcome Transamerica’s employees to Wills Wharf and Harbor Point.”

To learn more about Wills Wharf visit http://www.willswharfbaltimore.com/.

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

About Transamerica
With a history that dates back more than 100 years, Transamerica is recognized as a leading provider of life insurance, retirement, and investment solutions, serving millions of customers throughout the United States. Recognizing the necessity of health and wellness during peak working life, Transamerica’s dedicated professionals work to help people take the steps necessary to live better today so they can worry less about tomorrow. Transamerica serves nearly every customer segment, providing a broad range of quality life insurance and investment products, individual and group pension plans, as well as asset management services. In 2020, Transamerica fulfilled its promises to customers, paying more than $49 billion in insurance, retirement, and annuity claims and benefits, including return of annuity premiums paid by the customer. Transamerica is headquartered in Baltimore, Maryland, with other major operations in Cedar Rapids, Iowa and Denver, Colorado. Transamerica is part of the Aegon group of companies. Based in the Netherlands, Aegon is one of the world’s largest providers of life insurance, pension solutions and asset management products, operating in more than 20 markets worldwide. For the full year of 2020, Aegon managed over $1.1 trillion in revenue generating investments. For more information, please visit www.transamerica.com.

Contact:
Michael P. O’Hara
Armada Hoffler Properties, Inc.
Chief Financial Officer, Treasurer, and Secretary
Email: MOHara@ArmadaHoffler.com
Phone: (757) 366-6684

FAQ

What is the latest lease announcement from Armada Hoffler Properties regarding Wills Wharf?

Transamerica has agreed to lease 35,000 square feet on the 8th floor of Wills Wharf.

What percentage of Wills Wharf is currently leased?

Wills Wharf is now 58% leased with the addition of Transamerica.

Where is Wills Wharf located?

Wills Wharf is situated at Baltimore's Inner Harbor.

What types of companies are located in Harbor Point?

Harbor Point is home to global companies like T. Rowe Price, Exelon, Morgan Stanley, EY, and now Transamerica.

What is the total size of Wills Wharf?

Wills Wharf encompasses 325,000 square feet of mixed-use space.