Clark Enterprises has agreed to drop its opposition to plans for a 290-foot office building in downtown Bethesda, convenient timing at least as Marriott International Inc. weighs options in the area for a new headquarters once its current lease is up in 2022.
While Clark’s decision not to oppose Brookfield Property Partners (NYSE: BPY) eliminates an obstacle to redeveloping the site, 3 Bethesda Metro Center is just one of a handful of prospects for the hotelier. Marriott said last week it is evaluating several undisclosed sites large enough for a 700,000-square-foot office building and a 200-room hotel. At the same time, the Brookfield site still might not be large enough to accommodate Marriott’s needs even with Clark’s blessing to redevelop it.