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COLUMBIA, MD-Real estate development and management concern the Rouse Co. has made arrangements to buy its home, located at 10275 Little Patuxent Parkway, from current owner American Real Estate Holdings LP in a deal valued at $11 million. According to Howard County records, the property carries a 2003 assessed value of just over $8 million. The deal is expected to officially wrap up later this month.

Built in 1974 on a seven-acre parcel, the 150,000-sf building has served as home base to Rouse for the last three decades of the company’s nearly 65-year existence.

“It was always our wish to remain here and now we will,” company chairman and CEO Anthony W. Deering says of the deal. “We will also have the opportunity to implement some needed modifications to the building to bring it to a standard to suit us for the foreseeable future.”

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