The Company’s Rejection of WeWork Proposal Leads to a Surge in Leasing Activity
VIRGINIA BEACH, Va., Jan. 23, 2024 (GLOBE NEWSWIRE) — Armada Hoffler (NYSE: AHH) announced the rejection of the WeWork lease at The Interlock has opened up a unique opportunity for forward-thinking companies to secure a premium space in a highly sought-after location. Since the termination of the lease on December 31, 2023, the Company has been able to retain one of the largest single tenants in the space and has LOIs signed or pending on the majority of the remaining space.
“The Interlock has always been a beacon for innovation and collaboration. Businesses recognize the value and potential for growth that comes with establishing their presence in this dynamic and thriving environment, and we are pleased to see the demand for our class-A mixed-use office space. As I have said, we were not interested in a significantly discounted lease and therefore decided to part ways with WeWork, allowing us to take full advantage of an impressive amount of interest,” said Lou Haddad, President and CEO of Armada Hoffler. “This surge reaffirms The Interlock’s position as a hub for forward-thinking businesses looking to thrive in an environment that fosters creativity and growth.”
With customizable office spaces, cutting-edge facilities, and a vibrant community, The Interlock is poised to be the ideal choice for businesses looking to elevate their workplace experience. For leasing inquiries, please contact Kevin Driver at kdriver@streamrealty.com or Malik Leaphart at malik.leaphart@streamrealty.com.
About Armada Hoffler
Armada Hoffler (NYSE: AHH) is a vertically integrated, self-managed real estate investment trust (“REIT”) with over four decades of experience developing, building, acquiring, and managing high-quality multifamily, office, and retail properties located primarily in the Mid-Atlantic and Southeastern United States. We also provide general construction and development services to third-party clients, in addition to developing and building properties to be placed in our 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.
Contact:
Chelsea Forrest
Armada Hoffler
Director of Corporate Communications and Investor Relations
Email: CForrest@ArmadaHoffler.com
Phone: (757) 612-4248
