United Therapeutics has purchased the Hampton Inn/Homewood Suites dual-brand hotel next to its Silver Spring headquarters, Dewey Steadman, head of UT’s investor relations confirmed.
The purchase was completed on Oct. 5 and the hotels permanently closed this month.
Steadman said the company intends to repurpose the property for offices. The building originally was built for offices before it was converted to hotel space.
“The furnishings in the hotel, we’re actually going to donate to community organizations,” Steadman said. “We just started the logistics around that process.”
The company does not have firm plans at this point for the property.
“We’re still evaluating the use of the site,” Steadman said, “whether it’s the existing building or we put a new building on the site. We’re still in the planning stages of that, so nothing quite ready to share at this point.”
Given UT’s corporate commitment to green buildings and the net-zero technologies used in its headquarters, “I think anything that we have on the Silver Spring site, we’d want to see as environmentally friendly in terms of energy use going forward,” Steadman said.
“We’re looking forward to increasing our presence in Silver Spring,” he continued. “This is another demonstration of our commitment to downtown Silver Spring, and we look forward to growing our presence in the community.”
The company did not disclose the purchase price of the property, noting only that it was “clearly making an investment in the future of UT and Silver Spring.”
UT recently converted to a public benefit corporation to better align itself with its corporate values.
David Lay photo