The Bernstein Management Corporation, a commercial real estate and investment management company, is relocating its corporate headquarters from Washington, D.C. to Bethesda, according to an announcement.
The new 15,000-square-foot office space will be renovated by the end of the year. Fifty fulltime employees are expected to work at the Bethesda office at 800 Hampden Lane.
“We are excited to partner with the Bernstein Management Corporation to bring more jobs to Maryland and open new pathways to work, wages, and wealth for Marylanders,” announced Gov. Wes Moore.
“We’re glad to welcome Bernstein Management Corporation to Montgomery County and thank them for choosing to relocate here,” County Executive Marc Elrich said in a news release.
“This announcement reflects why we are partnering with the Maryland Department of Commerce to attract stable, long-term investments that bring good jobs and strengthen our local economy. Bethesda offers the talent and connectivity that companies like Bernstein are looking for, and we’re going to keep building on that.”
Bernstein’s portfolio includes more than 85 properties representing more than 5,800 residential units and 3.7 million square-feet of commercial space, including office, retail and industrial assets. It also includes more than 5,800 apartments in Washington, D.C., Maryland and Virginia.
To assist with project costs, the Maryland Department of Commerce approved a $250,000 conditional loan through Advantage Maryland. Additionally, Montgomery County is providing up to $150,000 through its MOVE Program and up to $400,000 through its Job Creation Fund Program to support the company’s move to Montgomery County.
“We are thrilled, but not at all surprised, that Bernstein Management Corporation has made its move to Maryland, “said Maryland Department of Commerce Secretary Harry Coker, Jr. in the news release. “With decades of proven experience as well as its extensive real estate knowledge, the company knows the market well and will thrive in its new Bethesda corporate headquarters for years to come.”
