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Lerner Enterprises

Lerner Enterprises is a company owned by the Lerner family that develops and invests in real estate in the Washington metropolitan area. The company has developed more than 20 million square feet of real estate.

Lerner Enterprises
IndustryReal estate
Founded1952; 72 years ago (1952)
HeadquartersTower Oaks
Rockville, Maryland
Area served
United States
OwnerLerner family
Websitelerner.com

History edit

The company was founded in 1952 by lawyer Ted Lerner, after he borrowed $250 from his wife.[1]

In 1958, the company developed its first shopping center, Wheaton Plaza (now Westfield Wheaton) in partnership with the Gudelsky family.[1]

Shortly thereafter, it bought 2 parcels of land in Tysons Corner, Virginia.[1] In 1968, the company completed development of Tysons Corner Center.[2]

In 1972, the company completed development of Landover Mall in Prince George's County, Maryland, but the mall was closed and demolished in 2002.[3] The company solicited the site as a location for a new headquarters of the Federal Bureau of Investigation.[4]

In 2003, a joint venture between the company and Guggenheim Partners acquired 1275 K Street NW in Washington, D.C. from JBG Smith.[5]

In 2004, in partnership with Tower Companies, the company began development of a 300,000 square foot shopping centre in Virginia[6] and in 2008, the partners completed 2000 Tower Oaks Blvd, a LEED platinum building in Tower Oaks, which became both companies' headquarters.[7]

In 2007, the company completed construction of 20 M Street SE and in 2009, the Bureau of Land Management leased 94,435 square feet of space in the building.[8]

In 2008, the company began constructing a 2-tower combination Hilton Garden Inn and Homewood Suites by Hilton hotel in Rockville.[9]

In 2013, the company broke ground on a 433-unit apartment complex across the street from its Dulles Town Center project and in 2014, the company broke ground on additional developments at Dulles Town Center.[10]

In 2015, the company was subject to a lawsuit after it demolished portions of its White Flint Mall to redevelop the site, in violation of a lease with Lord & Taylor.[11]

In February 2016, the company sold 2 office buildings in Fairfax, Virginia.[12]

In 2016, the company completed development of 1775 Tysons in Tyson's Corner, Virginia.[13]

In 2018, the company announced that it was looking to sell the site of the former Landover Mall.[14]

On February 12, 2023, Ted Lerner died at age 97.

References edit

  1. ^ a b c Carlyle, Erin (October 8, 2013). "The Bet That Changed Billionaire Ted Lerner's Life". Forbes.
  2. ^ MacGillis, Alec; Hedgpeth, Dana (October 9, 2006). "A Family That Plays Hardball In D.C. Stadium Negotiations and Vision for Anacostia Waterfront, City Discovers That With the Lerners, It's Always About Business". The Washington Post.
  3. ^ Nakamura, David (May 16, 2006). "Mall's Comedown Taints Lerner Image". The Washington Post.
  4. ^ Hernández, Arelis R.; O'Connell, Jonathan (July 14, 2017). "In Prince George's County, canceled FBI deal means back to the drawing board". The Washington Post.
  5. ^ "Lerner Enterprises, Guggenheim Partners Buy DC Office/Retail Building". Commercial Real Estate Direct. July 3, 2003.
  6. ^ Brubaker, Bill (December 12, 2004). "More Choices in Store for Dulles". The Washington Post.
  7. ^ Plumb, Tierney (April 27, 2009). "2000 Tower Oaks Blvd. wins platinum LEED". American City Business Journals.
  8. ^ Plumb, Tierney (August 13, 2009). "Bureau of Land Management to move into 20 M St. SE". American City Business Journals.
  9. ^ Plumb, Tierney (July 25, 2008). "Lerner Enterprises starts on hotels in Rockville". American City Business Journals.
  10. ^ Neibauer, Michael (February 18, 2014). "Lerner adding to Dulles Town Center with Nokes Plaza". American City Business Journals.
  11. ^ O'Connell, Jonathan (August 14, 2015). "Jury awards $31 million to Lord & Taylor in White Flint dispute". The Washington Post.
  12. ^ Rothstein, Ethan (February 15, 2016). "Bisnow Scoop: Lerner Sells Two Office Buildings In Fairfax". Bisnow Media.
  13. ^ Banister, Jon (June 20, 2017). "Lerner Lands $200M Refinancing Deal For 1775 Tysons". Bisnow Media.
  14. ^ Banister, Jon (October 31, 2018). "Former Landover Mall Site In Prince George's County Hits The Market". Bisnow Media.

lerner, enterprises, company, owned, lerner, family, that, develops, invests, real, estate, washington, metropolitan, area, company, developed, more, than, million, square, feet, real, estate, industryreal, estatefounded1952, years, 1952, headquarterstower, oa. Lerner Enterprises is a company owned by the Lerner family that develops and invests in real estate in the Washington metropolitan area The company has developed more than 20 million square feet of real estate Lerner EnterprisesIndustryReal estateFounded1952 72 years ago 1952 HeadquartersTower OaksRockville MarylandArea servedUnited StatesOwnerLerner familyWebsitelerner wbr comHistory editThe company was founded in 1952 by lawyer Ted Lerner after he borrowed 250 from his wife 1 In 1958 the company developed its first shopping center Wheaton Plaza now Westfield Wheaton in partnership with the Gudelsky family 1 Shortly thereafter it bought 2 parcels of land in Tysons Corner Virginia 1 In 1968 the company completed development of Tysons Corner Center 2 In 1972 the company completed development of Landover Mall in Prince George s County Maryland but the mall was closed and demolished in 2002 3 The company solicited the site as a location for a new headquarters of the Federal Bureau of Investigation 4 In 2003 a joint venture between the company and Guggenheim Partners acquired 1275 K Street NW in Washington D C from JBG Smith 5 In 2004 in partnership with Tower Companies the company began development of a 300 000 square foot shopping centre in Virginia 6 and in 2008 the partners completed 2000 Tower Oaks Blvd a LEED platinum building in Tower Oaks which became both companies headquarters 7 In 2007 the company completed construction of 20 M Street SE and in 2009 the Bureau of Land Management leased 94 435 square feet of space in the building 8 In 2008 the company began constructing a 2 tower combination Hilton Garden Inn and Homewood Suites by Hilton hotel in Rockville 9 In 2013 the company broke ground on a 433 unit apartment complex across the street from its Dulles Town Center project and in 2014 the company broke ground on additional developments at Dulles Town Center 10 In 2015 the company was subject to a lawsuit after it demolished portions of its White Flint Mall to redevelop the site in violation of a lease with Lord amp Taylor 11 In February 2016 the company sold 2 office buildings in Fairfax Virginia 12 In 2016 the company completed development of 1775 Tysons in Tyson s Corner Virginia 13 In 2018 the company announced that it was looking to sell the site of the former Landover Mall 14 On February 12 2023 Ted Lerner died at age 97 References edit a b c Carlyle Erin October 8 2013 The Bet That Changed Billionaire Ted Lerner s Life Forbes MacGillis Alec Hedgpeth Dana October 9 2006 A Family That Plays Hardball In D C Stadium Negotiations and Vision for Anacostia Waterfront City Discovers That With the Lerners It s Always About Business The Washington Post Nakamura David May 16 2006 Mall s Comedown Taints Lerner Image The Washington Post Hernandez Arelis R O Connell Jonathan July 14 2017 In Prince George s County canceled FBI deal means back to the drawing board The Washington Post Lerner Enterprises Guggenheim Partners Buy DC Office Retail Building Commercial Real Estate Direct July 3 2003 Brubaker Bill December 12 2004 More Choices in Store for Dulles The Washington Post Plumb Tierney April 27 2009 2000 Tower Oaks Blvd wins platinum LEED American City Business Journals Plumb Tierney August 13 2009 Bureau of Land Management to move into 20 M St SE American City Business Journals Plumb Tierney July 25 2008 Lerner Enterprises starts on hotels in Rockville American City Business Journals Neibauer Michael February 18 2014 Lerner adding to Dulles Town Center with Nokes Plaza American City Business Journals O Connell Jonathan August 14 2015 Jury awards 31 million to Lord amp Taylor in White Flint dispute The Washington Post Rothstein Ethan February 15 2016 Bisnow Scoop Lerner Sells Two Office Buildings In Fairfax Bisnow Media Banister Jon June 20 2017 Lerner Lands 200M Refinancing Deal For 1775 Tysons Bisnow Media Banister Jon October 31 2018 Former Landover Mall Site In Prince George s County Hits The Market Bisnow Media Retrieved from https en wikipedia org w index php title Lerner Enterprises amp oldid 1198541075, wikipedia, wiki, book, books, library,

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