TEDCO Downsizing Maryland HQ in Move to Downtown Columbia
Maryland Technology Development Corporation (TEDCO), a state agency that supports technology companies, is moving its headquarters to Downtown Columbia’s Merriweather District.
The agency inked a 9,258-square-foot lease at 10960 Grantchester Way, a 127,422-square-foot office building built in 2017. TEDCO will relocate from its current home at 7021 Columbia Gateway Drive in Columbia early next year, downsizing from its current 11,816-square-foot space because of the shift to hybrid work.
“This move represents more than a change of scenery, it’s a testament to TEDCO’s strategic decision-making aimed at enhancing our support for Maryland’s innovation ecosystem,” Troy LeMaile-Stovall, TEDCO’s CEO, said in a prepared statement.
Howard Hughes Holdings owns the five-story Columbia building, part of the company’s 14 million-square-foot redevelopment of the city’s Downtown. The developers are about 10 years into a 30-year development plan for the community.
“TEDCO is a great fit for Downtown Columbia’s thriving ecosystem,” Kristi Smith, president of the Maryland region for Howard Hughes, told Commercial Observer by email. “Downtown Columbia is perfectly positioned to meet the demands of today’s workforce with our city’s convenient location, high-quality office space with walkable amenities, access to top talent and an environment that provides a wonderful quality of life for all.”
Cresa represented the tenant in the lease, while Cushman and Wakefield represented the landlord.
Keith Loria can be reached at Kloria@commercialobserver.com.