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Marriott International to Relocate HQ

WASHINGTON DC 06.27.2017

THE WASHINGTON DC STATE OF THE MARKET

Matt Bronfman -- Jamestown Properties
Anthony Lanier -- EastBanc
Herb Miller -- Western Development

Marriott International’s decision to relocate its headquarters could trigger a bidding war if the past is an indicator of the future, reports The Washington Post. The stock market darling is already on the lookout for a new location when it bids farewell to its 900k-plus SF Bethesda campus in 2022, the year its lease expires. A big item on its wish list is Metro accessibility, to cater to the more urban sensibilities of younger workers. Without the Purple Line, this puts Maryland at a disadvantage. While other jurisdictions are undoubtedly chomping at the bit, Maryland officials are working to keep the company from joining the mass exodus of Fortune 500 companies from town. And this wouldn’t be the first time. In 1999 Maryland put up a $58M incentive package to keep Marriott from moving to Fairfax County. Marriott employs 9,970 people in Maryland, with about 2,000 working out of the corporate headquarters.