ANNAPOLIS, MD—A commercial real estate investment and management company is moving its headquarters from Washington, D.C. to Montgomery County, Governor Wes Moore announced on Monday.
Bernstein Management Corporation is relocating to Bethesda, where it will occupy a 15,000-square-foot office space. The company plans to move 50 full-time employees to the new space by the end of the year.
“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,” Moore said in a news release. “Together, we continue to make our state more business-friendly, grow our economy, and deliver results for the people we serve.”
Bernstein has been a leader in the D.C. Metropolitan area’s real estate investment and management industry for more than 70 years. The company’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.
“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. “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.”
The Maryland Department of Commerce has approved a $250,000 conditional loan through Advantage Maryland to support the company’s project. Montgomery County is also providing up to $150,000 through its MOVE Program and up to $400,000 through its Job Creation Fund Program.
“We’re glad to welcome Bernstein Management Corporation to Montgomery County and thank them for choosing to relocate here,” Montgomery 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. I appreciate the partnership with the state and look forward to seeing Bernstein become part of our business community.”
This article was written with the assistance of AI and reviewed by a human editor.
Do you value local journalism? Support NottinghamMD.com today.
