Lerner Enterprises
| Company type | Private |
|---|---|
| Industry | Real estate development and investment |
| Founded | 1952 |
| Founder | Ted Lerner |
| Headquarters | Rockville, Maryland , United States |
Area served | Washington metropolitan area |
| Owner | Lerner family |
Lerner Enterprises is a real estate development and investment firm owned by the Lerner family, focused on the Washington metropolitan area. The company has developed more than 20 million square feet of property.
History
Established in 1952 by attorney Ted Lerner with a modest $250 loan from his wife, the firm opened its inaugural shopping center, Wheaton Plaza (currently known as Westfield Wheaton), in 1958 in collaboration with the Gudelsky family. Shortly thereafter, it acquired land in Tysons, Virginia and completed the Tysons Corner Center in 1968.
In 1972, Lerner constructed Landover Mall located in Prince George's County, Maryland. The mall ceased operations and was demolished by 2002, with plans later proposed to develop a new Federal Bureau of Investigation headquarters on the site.
A partnership with Guggenheim Partners led to the acquisition of 1275 K Street NW in Washington, D.C. from JBG Smith in 2003. The next year, working alongside Tower Companies, Lerner initiated a 300,000 square foot shopping center project in Virginia, culminating in the completion of the LEED platinum-certified headquarters at 2000 Tower Oaks Blvd in 2008.
In 2007, the company finalized construction of 20 M Street SE and secured a lease exceeding 94,000 square feet with the Bureau of Land Management by 2009. That same year marked the beginning of a dual-brand Hilton hotel development in Rockville.
Between 2013 and 2014, Lerner expanded both residential and commercial projects near its Dulles Town Center development. In 2015, the company faced a lawsuit amounting to $31 million related to lease breaches during redevelopment activities at White Flint Mall.
By 2016, Lerner had sold two office properties in Fairfax, Virginia and completed development at 1775 Tysons. The former Landover Mall site was placed on the market by 2018.
Ted Lerner died on February 12, 2023, at the age of 97.