AP NEWS
This content is a press release from our partner Business Wire. The AP newsroom and editorial departments were not involved in its creation.
PRESS RELEASE from provider: Business Wire
This content is a press release from our partner Business Wire. The AP newsroom and editorial departments were not involved in its creation.

Booz Allen Hamilton Recommits to National Landing

February 14, 2019

CHEVY CHASE, Md.--(BUSINESS WIRE)--Feb 14, 2019--JBG SMITH Properties (NYSE: JBGS), a leading owner and developer of high-quality, mixed-use properties in the Washington, DC market, today announced that Booz Allen Hamilton (NYSE: BAH) has renewed and expanded its presence at 1550 Crystal Drive in National Landing. Commencing in September of this year, the consulting firm will occupy a total of 84,000 square feet.

Booz Allen Hamilton is a global firm of almost 25,000 people in 80 locations. The solutions-oriented management company has been providing consulting, analytics, digital solutions, engineering, and cyber services for more than 100 years to industries ranging from defense to health to energy to international development.

“It’s an honor to continue to provide this marquis organization a significant office presence on Crystal Drive,” said David Ritchey, Executive Vice President at JBG SMITH. “Booz Allen Hamilton has benefitted from this stellar location for many years, but this renewal means they can enjoy the exciting changes coming soon to National Landing.”

“Booz Allen is excited to continue our long-standing partnership with JBG SMITH in Crystal City (National Landing),” said Deane Edelman, Vice President of Real Estate for Booz Allen Hamilton. “It reflects our commitment to maintaining our presence in this established yet vibrant and growing market.”

Ritchey continued, “We are also grateful to CBRE and Cathy Delcoco for their instrumental role in this transaction.”

1550 Crystal Drive is centrally located in National Landing in the heart of the Central District Retail development now under construction. The 109,000-square-foot street-facing retail complex is anchored by the highly-anticipated 49,000-square-foot Alamo Drafthouse and will include a specialty grocer and numerous other restaurants, bars, retailers and experiential offerings. 1550 Crystal Drive is also undergoing a significant renovation of the lobby and common areas, which includes the addition of a new tenant-only terrace located directly above the retail. 1550 Crystal Drive is now 92% leased.

JBG SMITH provides property management and leasing services.

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.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190214005860/en/

CONTACT: Investor Relations

Jaime Marcus

SVP, Investor Relations

(240) 333-3643

jmarcus@jbgsmith.comMedia Inquiries

Jeff Goldberg

Live Wire

(703) 519-1600

jgoldberg@livewiredc.com

KEYWORD: UNITED STATES NORTH AMERICA DISTRICT OF COLUMBIA MARYLAND

INDUSTRY KEYWORD: PROFESSIONAL SERVICES REIT FINANCE CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE

SOURCE: JBG SMITH

Copyright Business Wire 2019.

PUB: 02/14/2019 04:30 PM/DISC: 02/14/2019 04:30 PM

http://www.businesswire.com/news/home/20190214005860/en