BALTIMORE, MD – Self-managed REIT, Armada Hoffler PropertiesInc. and WeWork have mutually agreed to terminate WeWork's lease atthe mixed-use building of Wills Wharf in Baltimore's Harbor Pointneighborhood.

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Following discussions between the two companies, both partiesagreed to terminate WeWork's lease, prior to Armada HofflerProperties funding of tenant improvements.

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WeWork previously secured and was set to occupy 69,000 squarefeet of space at the waterfront location; comprising the top twooffice floors of the 12-story property.

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"As we refocus on our core business and work with our landlordpartners around the world to optimize our real estate portfolio,WeWork has decided to terminate its planned lease at Wills Wharf,"said Dave McLaughlin, WeWork's general manager for the Atlantic."We are grateful to Armada Hoffler Properties for their ongoingpartnership throughout this process to find a solution that workedfor everyone involved."

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Armada Hoffler Properties is currently involved in negotiationsto lease the development, which consists of more than 325,000square feet of class A office, retail and boutique hotel space.Initial tenants of the property include the owner and operator of aCanopy by Hilton hotel, Ernst & Young, Jellyfish and BrightHorizons.

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"We are pleased to have reached a mutually beneficial outcomewith WeWork regarding the top two office floors of Wills Wharf,"said Louis Haddad, Armada Hoffler Properties president and CEO."With its prime waterfront location in Harbor Point, we are inactive negotiations to lease the balance of the building, inclusiveof the 69,000 square feet that WeWork was to occupy. Wills Wharf isa prime destination for office tenants looking to upgrade theirspace and relocate to the dynamic Harbor Point neighborhood. Weappreciate the cooperation and collaboration with WeWork in findingan optimal business solution at this location."

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Last week, the co-working company separately terminated its full-building,115,000-square-foot lease at 149 Madison Ave. in New York City.

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Waterfront Mixed-Use Properties Wills Wharf in Baltimore

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Ingrid Tunberg

Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.