PBS Extends Lease with JBG SMITH to Stay in National Landing
CHEVY CHASE, Md.--(BUSINESS WIRE)--Jan 15, 2019--JBG SMITH Properties (NYSE: JBGS), a leading owner and developer of high-quality, mixed-use properties in the Washington, DC market, is pleased to announce that PBS has signed a 15-year lease at 1225 S. Clark Street in National Landing. PBS has been located at JBG SMITH’s 2100 Crystal Drive asset since 2006. Under the new agreement, PBS will relocate to 1225 S. Clark Street in mid-2020 where it will occupy 120,328 square feet.
PBS and its member stations are America’s largest classroom, the nation’s largest stage for the arts and a trusted window to the world. On a daily basis, PBS, and nearly 350 member stations, provide trusted programming that is uniquely different from commercial broadcasting by treating audiences as citizens, not simply consumers. For 15 consecutive years, a national study has rated PBS as the most-trusted institution in America.
“We are so pleased that PBS will remain a part of the exciting and dynamic National Landing community,” said David Ritchey, Executive Vice President for JBG SMITH. “This continued long-term commitment by PBS to stay within the submarket further validates our excellent location, as well as our many planned improvements for the neighborhood. The relocation and extension of the PBS lease is also indicative of our plan to retain and attract diverse industries to National Landing, including associations and non-profits.”
“Arlington is delighted that PBS, America’s largest public media enterprise, will be staying in our community,” Arlington County Board Chair Christian Dorsey said. “In its new Crystal City location, PBS will have the resources it needs to continue its important work. We look forward to many more years of partnership with this national treasure.”
“We are thrilled that PBS will remain in Crystal City, especially during such a transformative and exciting time for this community,” said PBS President and CEO Paula Kerger. “Keeping our headquarters in Arlington is great for PBS and our employees, and we’re proud to call National Landing our home.”
1225 S. Clark Street enjoys terrific amenities in National Landing, including proximity to the Crystal City Metro station, Virginia Railway Express (VRE) and Reagan National Airport. PBS’s new location also provides great views of the Washington, DC skyline, proximity to Long Bridge Park and the future Central District Retail, including an Alamo Cinema Drafthouse and a specialty grocer.
PBS was represented by Paul Darr, Dale Powell and Chaise Schmidt with Cushman and Wakefield.
Ritchey noted his appreciation to Cushman and Wakefield adding, “The team of Paul Darr, Dale Powell and Chaise Schmidt were terrific to work with throughout the transaction. We appreciate their dedication, efficiency and clear communication to get to this win-win outcome.”
About National Landing
National Landing is the newly defined interconnected and walkable neighborhood that encompasses Crystal City, the eastern portion of Pentagon City and the northern portion of Potomac Yard. It is situated across the Potomac River from Washington, DC and is one of the region’s best-located urban mixed-use communities. It is defined by its central and easily accessible location, its adjacency to Reagan National Airport, and its base of existing offices, apartments and hotels.
National Landing enjoys ready access to a deep pool of young, highly educated and tech-savvy workers, an abundant supply of affordable office space, diverse housing options, an unparalleled transportation network, and plentiful green space. For more information on National Landing please visit www.nationallanding.com.
About JBG SMITH
JBG SMITH is an S&P 400 company that owns, operates, invests in and develops assets concentrated in leading urban infill submarkets in and around Washington, DC. Our mixed-use operating portfolio comprises approximately 19 million square feet of high-quality office, multifamily and retail assets, 98% of which are Metro-served. With a focus on placemaking, JBG SMITH drives synergies across the portfolio and creates amenity-rich, walkable neighborhoods. JBG SMITH’s future development pipeline includes over 19 million square feet of potential development density. For additional information on JBG SMITH please visit www.jbgsmith.com.
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CONTACT: Investor Relations
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KEYWORD: UNITED STATES NORTH AMERICA DISTRICT OF COLUMBIA MARYLAND
INDUSTRY KEYWORD: ENTERTAINMENT TV AND RADIO REIT CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE
SOURCE: JBG SMITH Properties
Copyright Business Wire 2019.
PUB: 01/15/2019 07:30 AM/DISC: 01/15/2019 07:30 AM