Adaptive Re-use

The Rouse Company Building – Whole Foods

  • Assist ownership in determining the highest and best of use of this deteriorating, antiquated and virtually empty, but also iconic, Frank Gehry building.
  • Assist ownership with retail lease negotiations.
  • Minimize the risk at every phase of this complex 150,000m square foot renovation.

OUR ROLE: Fee Developer

PROJECT TYPE: Adaptive Re-use

Protecting Interests

  • One of 12 projects that Garver has worked on since 2010 on behalf of the Howard Hughes Corporation
  • We performed a Feasibility Analysis that allowed ownership to systematically consider and evaluate alternative scenarios.
  • The analysis suggested that a mixed-use space, including offices and retail, would enable the owners to retain the integrity of the Gehry building, while also maximizing profitability.
  • Garver was then responsible for minimizing the risk involved in this complex renovation at every juncture. Work performed included:
    • Integral participant in the lease negotiations with Whole Foods Markets and other businesses.
    • Identified and retained the best design and construction team for this high-profile project.
    • Hired and managed the design, construction and project closeout.

Value Creation

  • Successful project fully leased to credit tenants, which positions owners to realize a considerable profit upon a disposition.
  • Leases signed for all three tenant spaces early in the development cycle.
  • The core and shell renovation delivered early and below budget to first key tenant Whole Foods in spite of significant challenges during construction.
  • The building is fully stabilized and the owners are successfully marketing it.

Client Response

Garver was an integral part of our success at bringing Whole Foods to the adaptive re-use of the former Rouse Company headquarters. Peter helped us figure out how best to re-position this building. He understands both the big-picture business points as well as the technical details, and pivots from one to the other.

Contact Us

1340 Smith Avenue
Suite 200
Baltimore, MD 21209