The Howard Hughes Corporation Announces One Summerlin – First Class A Office Building in Downtown Summerlin Opening Late 2014

The Howard Hughes Corporation announced  that One Summerlin a Class A office building will open in late 2014.LAS VEGAS – The Howard Hughes Corporation (NYSE: HHC) announced  that One Summerlin, a 200,000-square-foot, eight-story, Class A office building in the heart of Downtown Summerlin will open in late 2014 and is already more than 20% pre-leased. Now under construction in the Summerlin master planned community’s emerging 400-acre downtown, One Summerlin is unmatched in amenities offering an urban experience within steps of dynamic dining, retail, entertainment and hospitality options.  One Summerlin will provide a unique and enviable work, live and play opportunity for corporations and their employees.

BusinesSuites has signed on as the first tenant at One Summerlin, leasing more than 16,000 square feet of the new office tower.

“We’re excited to be a part of the growth of Downtown Summerlin. The location and amenities at One Summerlin make it a perfect fit for us. We definitely see demand among professionals, entrepreneurs and employees of large companies for premium workspaces and meeting spaces that are close to home but still offer a professional, productive place to work,” said John G. Jordan, President of BusinesSuites.

Regional offices for The Howard Hughes Corporation, the developer of the master-planned community and Downtown Summerlin, will also occupy one floor of the building, with the remaining six floors available to businesses seeking this highly desirable location.

Located at 1980 Festival Plaza Drive near the 215 Beltway and Sahara, One Summerlin will feature exciting street-level retail on the first floor with eight stories of Class A office space above. The floor plate sizes on each level push above 23,000-sqaure-feet allowing for flexible office layouts within a sleek, modern and state-of-the-art office building. The tower, which is being built to LEED Silver certified specifications, will also offer unparalleled 360-degree views of the valley, Red Rock Canyon National Conservation Area and the Las Vegas Strip. The building’s green features include high-efficiency air conditioning, waste management and recycling programs as well as water efficient landscaping.

Beyond the panoramic views created by One Summerlin’s elevated location, tenants will also enjoy immediate access to the 215 Beltway, leading to all parts of the valley and an easy 25-minute commute to the airport; convenient parking, including surface level, street-side and garage; and a partnership with the prestigious TPC Summerlin Golf Club in which qualified businesses at One Summerlin will be extended special membership pricing.

More companies are recognizing the benefit of being able to offer employees a shorter commute in conjunction with rich amenities and the conveniences within walking distance of the workplace. By developing office space in the acclaimed master-planned community, One Summerlin provides all of the advantages of a Class A space typically found in urban areas but is literally closer to home.

“While there has long been considerable anticipation among valley residents for retail development in  Downtown Summerlin, the business community is equally enthusiastic about One Summerlin,” said Kevin T. Orrock, President of Summerlin and Vice President of Master Planned Communities for The Howard Hughes Corporation. “The high level of interest in One Summerlin is proof there is pent up demand for suburban Class A office in the Las Vegas valley. This project, in particular, is in a league of its own in terms of its design, generous amenities and central location within Summerlin.”

Downtown Summerlin is located in the village of Summerlin Centre, just east of the 215 Beltway and south of Red Rock Casino Resort & Spa. In addition to the 106-acre development already underway, Downtown Summerlin will be home to additional office and urban-style residential offerings, including townhomes, condominiums and luxury apartment homes. The Howard Hughes Corporation and The Calida Group recently announced that they will break ground this fall on the area’s first residential project – a 124-unit luxury apartment joint venture development.

One Summerlin is represented for The Howard Hughes Corporation by Randy Broadhead, Senior Vice President at CBRE (randy.broadhead@cbre.com or 702-339-4867).

For additional information about Summerlin’s new homes and amenities, visit www.summerlin.com or download the free new home finding app by searching “Summerlin” in your app store.

For information on the retail center, visit www.shopsatsummerlin.com or join us at Facebook and Twitter.

About The Howard Hughes Corporation®

The Howard Hughes Corporation owns, manages and develops commercial, residential and mixed-use real estate throughout the U.S. Our properties include master planned communities, operating properties, development opportunities and other unique assets spanning 16 states from New York to Hawai‘i. The Howard Hughes Corporation is traded on the New York Stock Exchange as HHC and is headquartered in Dallas, TX. For additional information about HHC, visit www.howardhughes.com.

Safe Harbor Statement

Statements made in this press release that are not historical facts, including statements accompanied by words such as “will,” “believe,” “expect,” “enables,” “realize”, “plan,” “intend,” “transform” and other words of similar expression, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s expectations, estimates, assumptions, and projections as of the date of this release and are not guarantees of future performance. Actual results may differ materially from those expressed or implied in these statements. Factors that could cause actual results to differ materially are set forth as risk factors in The Howard Hughes Corporation’s filings with the Securities and Exchange Commission, including its Quarterly and Annual Reports. The Howard Hughes Corporation cautions you not to place undue reliance on the forward-looking statements contained in this release. The Howard Hughes Corporation does not undertake any obligation to publicly update or revise any forward-looking statements to reflect future events, information or circumstances that arise after the date of this release.

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