What The Howard Hughes Corporation reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Our corporate headquarters is located in The Woodlands, Texas. We also maintain offices at certain of our properties nationwide, including Honolulu, Hawai‘i; Columbia, Maryland; Las Vegas, Nevada; and Scottsdale, Arizona. We believe our present facilities are sufficient to support our operations.
The rest of Item 2
In our Operating Assets segment, we own a variety of asset types including approximately 9.3 million square feet of retail and office properties, 5,855 wholly and partially owned multifamily units, and wholly and partially owned other properties and investments. Our assets in this segment are primarily located in and around Houston, Texas (The Woodlands and Bridgeland); Columbia, Maryland (Columbia); Las Vegas, Nevada (Summerlin); and Honolulu, Hawai‘i (Ward Village).
The following table summarizes certain metrics of our office assets within our Operating Assets segment as of December 31, 2025:
Office Assets · Rentable Square Feet · % Leased · Annualized Base Rent(thousands) (a) · Annualized Base Rent Per Square Foot (a) · Effective Annual Rent (thousands) (b) · Effective Annual Rent per Square Foot(b) · Year Built /Acquired / Redeveloped
One Hughes Landing · 201,268 · 78% · $2,524 · $16.99 · $3,681 · $24.78 · 2013
Two Hughes Landing · 200,255 · 61% · 2,799 · 23.36 · 4,324 · 36.09 · 2014
Three Hughes Landing · 325,810 · 98% · 9,049 · 28.48 · 13,626 · 42.88 · 2016
1725 Hughes Landing Boulevard · 340,611 · 69% · 3,430 · 16.40 · 4,885 · 23.35 · 2015
1735 Hughes Landing Boulevard · 319,456 · 95% · 8,071 · 26.71 · 11,996 · 39.70 · 2015
2201 Lake Woodlands Drive · (c) · 22,259 · —% · — · — · — · — · 2011
Lakefront North · 258,058 · 100% · 7,425 · 28.77 · 11,881 · 46.04 · 2018
8770 New Trails · (c) · 180,000 · 100% · — · — · — · — · 2020
9303 New Trails · 98,283 · 51% · 1,102 · 21.98 · 1,767 · 35.25 · 2011
3831 Technology Forest Drive · 106,104 · 93% · 1,960 · 19.94 · 3,092 · 31.46 · 2014
The Woodlands Towers at The Waterway · 1,395,599 · 100% · 45,024 · 32.43 · 69,213 · 49.85 · 2019
3 Waterway Square · 227,617 · 91% · 3,200 · 15.51 · 4,872 · 23.62 · 2013
4 Waterway Square · 217,952 · 90% · 804 · 4.73 · 1,242 · 7.32 · 2011
6 Waterway · (d) · 141,763 · 82% · 1,887 · 23.29 · 2,757 · 34.01 · 2024
1400 Woodloch Forest · 94,931 · 85% · 2,636 · 32.85 · 2,846 · 35.48 · 2011
4,129,966
One Bridgeland Green · 49,502 · 80% · 568,544 · 43.27 · 824,774 · 62.77 · 2025
49,502
Columbia Office Properties · 67,066 · 72% · 1,302 · 27.05 · 1,517 · 31.51 · 2004 / 2007
10285 Lakefront Medical Office · 85,380 · 50% · 1,063 · 24.77 · 1,469 · 34.21 · 2024
One Mall North · 99,806 · 37% · 1,190 · 31.81 · 1,329 · 35.52 · 2016
One Merriweather · 209,950 · 94% · 8,151 · 41.18 · 8,656 · 43.73 · 2017
Two Merriweather · 124,639 · 96% · 4,496 · 42.54 · 4,649 · 43.98 · 2017
6100 Merriweather · 326,237 · 98% · 11,809 · 40.56 · 12,176 · 41.82 · 2019
Merriweather Row · 925,584 · 74% · 18,890 · 28.81 · 19,670 · 30.00 · 2012 / 2014
1,838,662
Aristocrat · (c) · 181,534 · 100% · — · — · — · — · 2018
Meridian · 147,602 · 46% · 877 · 34.20 · 877 · 34.20 · 2024
1700 Pavilion · 265,898 · 94% · 11,654 · 47.57 · 12,137 · 49.54 · 2022
One Summerlin · 207,292 · 85% · 7,794 · 44.74 · 8,187 · 47.00 · 2015
Two Summerlin · 147,139 · 100% · 5,984 · 40.67 · 6,472 · 43.98 · 2018
949,465
Total · 6,967,595
(a)Annualized Base Rent is calculated as the monthly Base Minimum Rent for the property at December 31, 2025, multiplied by 12. Annualized Base Rent Per Square Foot is the Annualized Base Rent for the property at December 31, 2025, divided by the average occupied square feet.
(b)Effective Annual Rent includes base minimum rent and common area maintenance recovery revenue. Effective Annual Rent Per Square Foot is the Effective Annual Rent divided by the average occupied square feet.
(c)These properties are entirely leased by a single tenant. Therefore, the Annualized Base Rent and Effective Annual Rent details have been excluded for competitive reasons. The lease for the single tenant at 2201 Lake Woodlands Drive expired in December 2025.
(d)In 2025, this property was rebranded to 6 Waterway (formerly Waterway Plaza II).
The following table summarizes certain metrics of our retail properties within the Operating Assets segment as of December 31, 2025, and does not include any retail square footage in our multifamily assets:
Retail Properties · Rentable Square Feet · % Leased · Annualized Base Rent(thousands) (a) · Annualized Base Rent Per Square Foot (a) · Year Built / Acquired / Redeveloped
Creekside Park West · 72,976 · 100% · $2,104 · $31.76 · 2019
Grogan’s Mill Retail · 31,363 · 68% · 445 · 30.19 · 2025
Hughes Landing Retail · 125,721 · 96% · 4,419 · 39.00 · 2015
1701 Lake Robbins · 12,376 · 100% · 551 · 44.49 · 2014
20/25 Waterway Avenue · 51,688 · 100% · 1,705 · 37.85 · 2011
Waterway Square Retail · 21,513 · 100% · 876 · 40.83 · 2011
315,637
Village Green at Bridgeland Central · 27,944 · 90% · 661 · 32.33 · 2024
Color Burst Park Retail · 12,410 · 100% · 588 · 47.42 · 2020
Rouse Building · 89,199 · 100% · 2,285 · 25.62 · 2014
101,609
Downtown Summerlin · (b) · 801,010 · 100% · 25,585 · 38.95 · 2014 / 2015
Summerlin Grocery Anchored Center · 67,147 · 85% · 1,652 · 28.86 · 2024
868,157
Ward Village Retail - Pending Redevelopment · 336,616 · 79% · 6,225 · 23.46 · 2002
Ward Village Retail - New or Renovated · 500,015 · 84% · 19,268 · 45.64 · 2012 - 2023
836,631
Total · 2,149,978
(a)Annualized Base Rent is calculated as the monthly Base Minimum Rent for the property at December 31, 2025, multiplied by 12. Annualized Base Rent Per Square Foot is the Annualized Base Rent for the property at December 31, 2025, divided by the average occupied square feet.
(b)Excludes 381,767 square feet of anchors and 39,700 square feet of additional office space above our retail space.
The following tables summarize certain metrics of our multifamily Operating Assets as of December 31, 2025: