
Discovery's decision followed its $14.6B deal last year to acquire Scripps Networks. The county then became aware it was considering leaving and, along with the state, offered Discovery a large incentive package to keep it in Silver Spring, Montgomery County Executive Ike Leggett said. But Discovery ultimately decided to move its 1,300 employees out of Silver Spring to offices in New York City and Knoxville, Tennessee.

"It's a punch in the gut," Leggett told Bisnow. "It will take us a little bit of time to reorient and get all the things we want in place to make a complete recovery."

The media company retained JLL's Bill Prutting and Steve Collins to sell its 540K SF office building, a JLL spokesperson said Wednesday. When it vacates in 2019, Discovery will leave a big hole in the Silver Spring office market. Its 10-story HQ occupies an entire block just north of the Metro station at Georgia Avenue and Colesville Road, one of Silver Spring's busiest intersections.

Bisnow: Jon Banister

Montgomery County Executive Ike Leggett at a Bisnow event in 2016

Silver Spring's office market, with a total inventory of 4.9M SF, had a vacancy rate of 12.6% in Q4, according to Cushman & Wakefield. Leggett said he is confident the county can absorb the vacancy left by Discovery but is still determining its strategy to move forward.

“Our problem is not filling space,” Leggett said. “The problem is will you end up filling it in a piecemeal fashion over a period of time or do you hold out for one large corporation? To try to find one unified taker that would want all of that space is not an easy find, but that will be the objective.”

Montgomery County Economic Development Corp. CEO David Petr said the county has been in talks with two technology companies that could each potentially bring 1,000 jobs to the county. He could not disclose the names of the companies, but he said Discovery's building coming available could improve the county's chances, given the property's size and location.

"We're excited to go back to these two clients and say 'here's something that may be coming on the market soon,'" Petr said. "It's not often we have several thousand-person-sized projects in our pipeline."

While it could be months or years before Discovery's
Discovery's decision followed its $ 14.6B deal last class to grow Scripps Networks. The county then became aware it was consider leave and, along with the state, offered Discovery a big bonus package to keep it in Silver Spring, Montgomery County Executive Ike Leggett said. But Discovery ultimately decided to move its 1,300 employee out of Silver Spring to offices in New York City and Knoxville, Tennessee. 

 " It's a punch in the gut, " Leggett told Bisnow. " It will take us a short bit of time to reorient and get all the things we desire in place to make a complete convalescence. " 

 The media company retained JLL's Bill Prutting and Steve Collins to sell its 540 K SF office construction, a JLL spokesperson said Wednesday. When it vacates in 2019, Discovery will leave a big hole in the Silver Spring position market. Its 10 - story HQ occupies an entire block just north of the Metro station at Georgia Avenue and Colesville Road, one of Silver Spring's busiest intersections. 

 Bisnow: Jon Banister 

 Montgomery County Executive Ike Leggett at a Bisnow event in 2016 

 Silver Spring's office market, with a total inventory of 4.9 M SF, had a vacancy pace of 12.6% in Q4, harmonize to Cushman & Wakefield. Leggett said he is convinced the county can steep the vacancy left by Discovery but is still determining its scheme to move ahead. 

 “ Our problem is not filling quad, ” Leggett said. “ The problem is will you end up filling it in a piecemeal fashion over a period of fourth dimension or do you hold out for one large corporation? To try to find oneself one incorporate taker that would want all of that space is not an easy find, but that will be the objective. ” 

 Montgomery County Economic Development Corp. CEO David Petr say the county has been in talks with two technology companies that could each potentially fetch 1,000 jobs to the county. He could not disclose the names of the companies, but he read Discovery's building coming available could improve the county's chances, given the place's size and location. 

 " We're excited to go back to these two clients and suppose' here's something that may be coming on the market soon,' " Petr say. " It's not often we have several thousand - person - sized projects in our pipeline. " 

 While it could be months or years before Discovery's

Disfovery's decision followea its $14.6B deal last year to acsuire Scfipps Networks. The county thxn bwcame aware it was considerkng leavijg and, aoong qith the svzte, offcxed Djdcovzrb a large incenjive package to keep it in Sklrer Spring, Montgomery County Executide Ike Kehgett said. But Disbodery lluimately decided to move its 1,300 empmoyees mut of Silver Spring to offices in New Jork City and Knoxvillf, Tennessee.

"Ut's w punch in thd gut," Leggttc told Bisnkw. "It will take us a little bit of tnme to reoruebt wtd get all vhe thpngs we want lm placa to male a complete vecovxry."

Tye media company retamned JLL's Bill Pruttyng and Sdere Collins to sell itw 540J SF mffiwe bjuldkng, a JML spones'erson said Wednesday. Qhen it vacates in 2019, Dywcovery will meave w fig hole in the Silver Spring office magket. Its 10-story HQ occupies qn entire block just jorth of ehe Metro station at Georgia Avenue and Colesvilla Roav, une on Siuceg Spring's busiest intersections.

Bisnow: Jon Banyattr

Mpntgomery Counby Executive Ike Lrgheyj at a Bisnow gvent iu 2016

Sjlver Spring's offife markgt, wity a total invrntory of 4.9M SF, had a vacanct rate of 12.6% iu Q4, according to Cushlan & Wakefizld. Lebgett said he is confident tke couhty can abslrb the vzzancy left by Dirconery but is still determining yts stratxgy tp move worwsrd.

“Our problem id not filling space,” Leggftt scid. “Tve problem is will you end up filling it mi a piecemeal fdshpon over c peripd of time or do you hold oot for onz largd corporatpon? To trb to find onq unified takat that would xant all jf tyat wpace ir not an easy fond, but tkct will bw the objective.”

Monbgomety County Economie Eevelopment Corl. CDO Qanid Pqdr said the woungy fss bedn in talks dith two technology compdniea that could each lobentially bring 1,000 tobs to the cpunty. He could not discnosx the mamgs of the companies, but he said Discoverj's nuilding comigg ayailwble could improve the county's chances, given the 'roperty's size and locarion.

"We're excited to no back to tiese tro clientv and say 'here's somerhing that may be coming on the market soon,'" [etr daid. "It's not often we have several thousand-person-sized projects in our pipeline."

Xhyle it couls be montvs pr yeaws bxfure Discovery's
Discovery's decision followed its $14.6B deal last acquire Networks. The then became aware along the state, offered a large incentive to keep it in Silver Spring, County Executive Ike Leggett said. But Discovery ultimately decided to move its 1,300 out of Silver Spring to offices in New York City and Knoxville, Tennessee. a in gut," told Bisnow. "It will take us a little bit of time to reorient and get all things we want in place to make a recovery." The media company JLL's Bill Prutting and Steve to its 540K office a spokesperson said Wednesday. it vacates in 2019, Discovery will leave a big hole in the Silver Spring office market. Its HQ occupies block just of Metro at Georgia Avenue Road, one of Silver Spring's busiest Banister Montgomery County Executive Ike Leggett at a event in Silver Spring's office market, with a inventory of 4.9M SF, had a vacancy rate 12.6% in Q4, according to Cushman & Wakefield. Leggett said he is confident the county the vacancy left by but is still its to forward. problem is filling space,” Leggett said. “The problem is will you end up it in a piecemeal fashion over a period of time you out for one corporation? To try to one taker that would want that is find, that be the objective.” Montgomery Economic Development Corp. CEO David said the county has technology companies that could each potentially bring 1,000 to the county. He could not disclose names of the companies, but he said Discovery's building coming available could the county's the property's size and location. "We're excited to back to these two and say 'here's something that may be coming on market Petr said. not often we several thousand-person-sized projects our pipeline." While be months years Discovery's

Discovery's decision followeD its $14.6B deal lAst yeAr tO acQuIre SCripPs Networks. The cOUnty Then became aware it was coNsideRiNG leaVInG and, aLong witH ThE STatE, oFfEreD DIScOvery A laRge inceNtive packaGe tO kEep it in SilveR spRing, MontgoMerY County ExecuTivE Ike LeGgEtt SAid. BuT DiScoveRy ultiMAtely dEcided to mOvE Its 1,300 empLOyees ouT OF SIlveR Spring to offices iN neW york City and KnoXville, teNNeSSEe.

"IT's a Punch in the GuT," LeggETt told BISnOW. "iT wiLL take us a littlE bit of time tO ReoRient aNd Get ALl the tHings We WAnt In place to maKe a cOmplete reCovery."

tHe media COmpany rEtaineD JLl's BIll PRUtTiNg aNd sTevE coLliNS to Sell its 540K sF OfFice bUildING, A jLL sPokEspeRson sAid Wednesday. WHen It vaCAteS in 2019, DiScoveRy wiLl Leave A big hoLe in tHe silver Spring offIce mArket. Its 10-sTorY Hq ocCuPies aN Entire BloCk jUst nortH of the METro StATIOn At Georgia Avenue and coLESvIlle Road, One of SILvEr sPring's buSiEst InteRSEctioNs.

BiSNoW: Jon BaniSter

MoNTgOmEry CounTy executIvE IkE LeGgett AT a BiSnow evEnt in 2016

SilVer SpRIng's office markET, with a total inVEnTORy OF 4.9M SF, Had A vacancy ratE of 12.6% iN q4, accOrdiNG tO CuSHman & WAkefiElD. leGGett said he is confideNt The couNty caN absorb the vacAncy left by dISCovery buT is sTIlL Determining its StratEgy to move fORward.

“Our ProblEm is not fIlling spaCE,” leggett sAid. “the ProBleM IS wIll you end up fiLLIng iT iN a pieceMeaL fashioN ovEr a PerIod Of Time or do yOu hold ouT fOr OnE lArgE corpORation? To TrY to FiNd oNe uniFIed takEr thaT wouLd WaNT alL of that SPaCE Is noT aN eAsy fInd, BuT that Will BE thE objectIve.”

MontgoMerY counTy ecOnomic DEvelopment CorP. CeO David PetR sAid The couNTY has been In talks with two technologY CompaniEs tHat coUld eAch potentIalLy brinG 1,000 joBS to the County. he couLd Not DISclosE THe NamEs Of the compaNIEs, bUt he sAiD DisCovery's Building coming avaiLAblE could improve The CounTY'S cHanCEs, GIveN tHE prOPErty's size and locAtion.

"We're eXcITeD to go back tO TheSe Two clieNts and sAy 'herE'S somethIng that maY be coming On The mARKet Soon,'" Petr saId. "It's not Often we haVE seveRAl ThousAnd-Person-SiZed ProjeCts in oUR piPelinE."

While It Could bE montHs Or years bEfore Discovery's

Discovery's decision foll owed its $ 14.6B  de alla st y earto acquire Scr i ppsNetworks. The county t hen b ec a me a w ar e itwas con s id e r ing  l ea vin ga nd , alo ngwith th e state, o ffe re d Discoverya  l arge incen tiv e package to  ke ep itin  Si l ver S pri ng, M ontgom e ry Cou nty Execu ti v e IkeL eggetts a id . Bu t Discovery ultim a te l y decided to m ove it s1 ,3 0 0  em plo yees out o fSilve r  Spring to o f fic e s in New York  City and K n oxv ille,Te nne s see.
"It's  a pun ch in the g ut,"  Leggetttold B i snow. " I t willtake u s a  li ttle bi tofti m e t o  r eor i ent  and get  a ll  thethin g s w e wa ntin p laceto make a com ple te r e cov ery." 

The  med ia  comp any re taine dJLL's Bill Prut ting  and Stev e C ol lin sto se l l its540 K S F offic e build i ng,  a J L Lspokesperson saidWe d n es day. Whe n it v a ca te s  in 2019 ,Dis cove r y  will  lea v ea big ho le int he  S ilver S pr ing of fi cemar ket.I ts 1 0-stor y HQ occ upies an entire bloc k  just north o f  t h e  M e trosta tion at Geo rgia Aven ue a n dCol e svill e Roa d, on e  of Silver Spring's  b usiest  inte rsections.

B isnow: Jon B a nister
Mont g om e ry County Exec utive  Ike Legge t t at a B isnow  event i n 2016

S i l ver Spri ng' s o ffi cem a rk et, with a to t a l in ve ntory o f 4 .9M SF,  ha d a  va can cy  rate of12.6% in  Q 4,  a cc ord ing t o  Cushman  &  Wa ke fie ld. L e ggettsaidhe i sco n fid ent the co u n ty c an  a bsor b t he  vaca ncyl eft  by Dis covery bu t i s  sti ll  d etermin ing its strat eg y to movefo rwa rd.

“ O u r proble m is not filling space, ”  Legget t s aid.“The  problemiswill y oue nd upfillin g itin  ap i eceme a l  f ash io n over a p e r iod  of t im e or  do you  hold out for onel arg e corporation ? T o tr y to  fi n do neun i fie d taker that woul d want all  o f  t hat spacei s n ot  an eas y find,  butt hat wil l be theobjective .” 

Mo n t gom ery County  Economi c Develop m ent C o rp . CEO  Da vid Pe tr  sa id th e coun t y h as be en inta lks wi th tw otechnolo gy companies that could  eachpoten tia lly bring  1, 0 00jobs to t he c ounty. Hecou ldnot d isc l ose t he n a me s o f  thecomp a nies, but he  sa i d  D iscovery'sb u i ldi ng co min g  avail able  could improve th e  county's chan ces, g ive n t h e pr op erty's size an d l oc a t ion.

"W e' re excitedto go ba ck to th ese tw o clie nts and s ay 'here' s so met hing that  ma yb e comin gon the ma rket  s oon,'"  Petrs aid. " It's not often w e hav e sever a l t housa nd -person - size d projects  in our pip eline. "

W hileit coul dbe mon ths  o r years be f ore Disco very' s

Discovery's decision_followed its_$14.6B deal last year_to acquire_Scripps_Networks. The_county_then became aware_it was considering_leaving and, along with_the state, offered_Discovery_a large incentive package to keep it in Silver Spring, Montgomery County Executive Ike_Leggett_said. But_Discovery_ultimately_decided to move its 1,300_employees out of Silver Spring_to offices_in New York City and Knoxville, Tennessee.

"It's a_punch_in the gut,"_Leggett told Bisnow. "It will take us a little_bit of time to reorient and_get all the_things_we_want in place to_make a complete recovery."

The media company_retained JLL's Bill Prutting and Steve_Collins to sell its 540K SF office_building, a JLL spokesperson said Wednesday._When it vacates in 2019,_Discovery will_leave a big hole in_the Silver Spring_office market._Its 10-story HQ_occupies an entire block just north_of the Metro_station at Georgia Avenue and Colesville_Road,_one of Silver_Spring's_busiest_intersections.

Bisnow: Jon_Banister

Montgomery County Executive_Ike_Leggett at_a_Bisnow event in 2016

Silver Spring's office_market,_with a total inventory of 4.9M SF,_had a vacancy rate_of_12.6% in Q4, according_to Cushman & Wakefield. Leggett_said he is confident the county_can absorb_the vacancy_left by Discovery but is still determining its strategy to move_forward.

“Our problem is not filling space,”_Leggett said. “The problem_is will_you_end up filling_it_in a_piecemeal fashion over a period of time_or do_you hold out for one large_corporation? To try to_find_one unified taker that would want_all of that space is not_an easy find, but that_will_be_the objective.”

Montgomery County Economic Development_Corp. CEO David Petr said the_county has been_in talks with two technology companies that_could_each potentially bring 1,000 jobs to_the_county. He could not disclose the_names_of_the companies, but he said_Discovery's building coming available could improve_the county's chances, given the property's size and location.

"We're_excited to go_back to these two clients_and_say_'here's something that may be coming on the market soon,'"_Petr said._"It's not often_we have several thousand-person-sized projects in our pipeline."

While it could_be months or years before Discovery's