Ullico has relocated its corporate headquarters from Silver Spring to downtown Bethesda. Its offices have officially relocated to Avocet Tower at 7373 Wisconsin Avenue. The insurance firm has leased 30,333-square-feet of space at the tower, and their logo signage has just been affixed to the building facade (although I like to see these at the top of the building and lit up at night).
The move continues two trends: Where Montgomery County has failed to attract a single new major corporate headquarters in over 25 years, some companies remain committed to the County, and relocate within its borders. Marriott International and Choice Hotels are other examples; both are progressive liberal corporations (though the former didn't start off that way!), and align politically with the County Council even if it costs their firms significant revenue at the bottom line.
A second trend is the in-county poaching phenomenon we've seen with new Class A office space. While big names like Intelsat famously passed on a brand-new trophy office building at 4500 East-West Highway, new buildings in downtown Bethesda and at Pike & Rose have lured away companies already in Montgomery County in significant numbers. In fact, Ullico joins Arlington Capital Partners and DiamondRock Hospitality Company in moving to Avocet Tower from buildings within sight of it, a remarkable 78,864 SF coup by Beacon Capital Partners and their leasing representative, Transwestern.
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