Lerner Enterprises is a company owned by

Ted Lerner Theodore N. Lerner (born October 15, 1925) is an American real estate developer, and former managing principal owner of the Washington Nationals baseball team. He is the founder of the real estate company Lerner Enterprises, the largest private l ...

and his family that develops and invests in real estate in the

Washington metropolitan area The Washington metropolitan area, also commonly referred to as the National Capital Region, is the metropolitan area centered on Washington, D.C. The metropolitan area includes all of Washington, D.C. and parts of the states of Maryland, Virgin ...

. The company has developed more than 20 million square feet of real estate.

History

The company was founded in 1952 by lawyer Ted Lerner, after he borrowed $250 from his wife. In 1958, the company developed its first shopping center, Wheaton Plaza (now

Westfield Wheaton Westfield Wheaton, formerly known as Wheaton Plaza, is a 1.7 million square-foot, two-level indoor shopping mall in Wheaton, Maryland, north of Washington, D.C. It is owned by Unibail-Rodamco-Westfield and Its anchor stores include Macy’s, Tar ...

) in partnership with the Gudelsky family. Shortly thereafter, it bought 2 parcels of land in

Tysons Corner, Virginia Tysons, also known as Tysons Corner, is a census-designated place (CDP) in Fairfax County, Virginia, United States, developed from the corner of Chain Bridge Road ( SR 123) and the Leesburg Pike ( SR 7). Located in Northern Virginia between the c ...

. In 1968, the company completed development of

Tysons Corner Center Tysons Corner Center is a shopping mall in the unincorporated area of Tysons in Fairfax County, Virginia, United States (between McLean and Vienna, Virginia). It opened to the public in 1968, becoming one of the first fully enclosed, climate-contr ...

. In 1972, the company completed development of

Landover Mall Landover Mall was a large shopping mall located in Landover, Maryland, directly across from FedExField, off MD 202 and Interstates 95 and 495. The mall was built by Sonny Abramson and Ted Lerner of Lerner Enterprises, and opened in 1972. Like it ...

Prince George's County, Maryland ) , demonym = Prince Georgian , ZIP codes = 20607–20774 , area codes = 240, 301 , founded date = April 23 , founded year = 1696 , named for = Prince George of Denmark , leader_title = Executive , leader_name = Angela D. Alsobroo ...

, but the mall was closed and demolished in 2002. The company solicited the site as a location for a new headquarters of the

Federal Bureau of Investigation The Federal Bureau of Investigation (FBI) is the domestic intelligence and security service of the United States and its principal federal law enforcement agency. Operating under the jurisdiction of the United States Department of Justice, ...

. In 2003, a

joint venture A joint venture (JV) is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and risks, and shared governance. Companies typically pursue joint ventures for one of four reasons: to acces ...

between the company and

Guggenheim Partners Guggenheim Partners is a global investment and advisory financial services firm that engages in investment banking, asset management, capital markets services, and insurance services. Organization The firm is headquartered in New York City ...

acquired 1275 K Street NW in

Washington, D.C. ) , image_skyline = , image_caption = Clockwise from top left: the Washington Monument and Lincoln Memorial on the National Mall, United States Capitol, Logan Circle, Jefferson Memorial, White House, Adams Morgan, ...

from

JBG Smith JBG SMITH Properties is a publicly traded real estate investment trust based in Bethesda, Maryland. As of December 31, 2020, the company owned 62 properties and has 2 additional properties under construction, all of which are in the Washington me ...

. In 2004, in partnership with Tower Companies, the company began development of a 300,000 square foot shopping centre in

Virginia Virginia, officially the Commonwealth of Virginia, is a state in the Mid-Atlantic and Southeastern regions of the United States, between the Atlantic Coast and the Appalachian Mountains. The geography and climate of the Commonwealth ar ...

and in 2008, the partners completed 2000 Tower Oaks Blvd, a

LEED Leadership in Energy and Environmental Design (LEED) is a green building certification program used worldwide. Developed by the non-profit U.S. Green Building Council (USGBC), it includes a set of rating systems for the design, construction ...

platinum building in

Tower Oaks Tower Oaks is a 192-acre planned community in Rockville, Maryland. History In 1987, the city council of Rockville approved plans for the development of the site into an office park. In 1998, Boston Properties, which purchased 84 acres of the site, ...

, which became both companies' headquarters. In 2007, the company completed construction of 20 M Street SE and in 2009, the

Bureau of Land Management The Bureau of Land Management (BLM) is an agency within the United States Department of the Interior responsible for administering federal lands. Headquartered in Washington DC, and with oversight over , it governs one eighth of the country's la ...

leased 94,435 square feet of space in the building. In 2008, the company began constructing a 2-tower combination

Hilton Garden Inn Hilton Garden Inn is an American chain of mid-priced, limited or focused service hotels owned by Hilton Worldwide. As of December 31, 2019, it has 862 properties with 126,086 rooms in 49 countries and territories, including 81 that are manage ...

and

Homewood Suites by Hilton Homewood Suites by Hilton is an American chain of all-suite residential-style hotels managed by the Hilton Worldwide. As of December 31, 2019, the chain consists of 505 hotels in 4 countries and territories with 57,545 rooms. 490 Homewood Su ...

hotel in Rockville. In 2013, the company broke ground on a 433-unit apartment complex across the street from its

Dulles Town Center Dulles Town Center is a two-level enclosed shopping mall in Sterling, Virginia, Sterling in Loudoun County, Virginia. It is located north of Washington Dulles International Airport. It is part of the Dulles Town Center, Virginia, Dulles Town Ce ...

project and in 2014, the company broke ground on additional developments at Dulles Town Center. In 2015, the company was subject to a lawsuit after it demolished portions of its

White Flint Mall White Flint Mall was a shopping mall, located along Rockville Pike, in Montgomery County, Maryland, that closed in early 2015 and demolished thereafter. Its former anchors were Lord & Taylor, Bloomingdale's, Dave & Buster's, H&M, Loews Theatre ...

to redevelop the site, in violation of a

lease A lease is a contractual arrangement calling for the user (referred to as the ''lessee'') to pay the owner (referred to as the ''lessor'') for the use of an asset. Property, buildings and vehicles are common assets that are leased. Industrial ...

with

Lord & Taylor Lord & Taylor was the oldest brick and mortar department store in the United States, in business from 1826 to 2020. The brand was purchased during former owner Le Tote's 2020 liquidation bankruptcy and relaunched by new owner, Saadia Group, as ...

. In February 2016, the company sold 2 office buildings in

Fairfax, Virginia The City of Fairfax ( ), colloquially known as Fairfax City, Downtown Fairfax, Old Town Fairfax, Fairfax Courthouse, FFX, or simply Fairfax, is an independent city (United States), independent city in the Commonwealth (U.S. state), Commonwealth ...

. In 2016, the company completed development of 1775 Tysons in

Tyson's Corner, Virginia Tysons, also known as Tysons Corner, is a census-designated place (CDP) in Fairfax County, Virginia, United States, developed from the corner of Chain Bridge Road ( SR 123) and the Leesburg Pike ( SR 7). Located in Northern Virginia between the c ...

. In 2018, the company announced that it was looking to sell the site of the former

References

{{reflist, 1 Companies based in Rockville, Maryland Real estate companies of the United States Shopping center management firms American companies established in 1952 1952 establishments in Maryland Real estate companies established in 1952