Business
JBG SMITH Acquires Tysons Dulles Plaza
BETHESDA, Md., June 20, 2025--JBG SMITH (NYSE: JBGS), a leading owner, operator, and developer of high-quality, mixed-use properties in the Washington, DC market, has acquired Tysons Dulles Plaza, a 15-acre office campus in the heart of Tysons, Virginia.
About this update from Jbg Smith Properties
[{"type":"text","content":"Three building, 15-acre office campus with partial redevelopment potential in line with JBG SMITH’s value-creation expertise","length":124,"tagName":"p","attribs":{}},{"type":"text","content":"BETHESDA, Md., June 20, 2025--(BUSINESS WIRE)--JBG SMITH (NYSE: JBGS), a leading owner, operator, and developer of high-quality, mixed-use properties in the Washington, DC market, has acquired Tysons Dulles Plaza, a 15-acre office campus in the heart of Tysons, Virginia.","length":271,"tagName":"p"},{"type":"text","content":"The three-building campus encompasses approximately 500,000 square feet of offices and 1,553 parking spaces. Tysons Dulles Plaza is walkable to the Silver Line’s Spring Hill Metro station and immediately adjacent to Route 267, the Dulles Toll Road. It benefits from Northern Virginia's continued attraction of major corporations and government contractors drawn by the region's highly educated talent pool, excellent transportation infrastructure, and robust business ecosystem.","length":486,"tagName":"p"},{"type":"text","content":"JBG SMITH intends to re-entitle and redevelop one of the three office buildings for residential use. The other two buildings will be enhanced and modernized and remain in long-term operation for office tenants.","length":210,"tagName":"p"},{"type":"text","content":""Notwithstanding regional economic headwinds and the negative impact of remote work on the office sector, we see distress leading to extremely attractive office investment opportunities for the first time in more than a decade," said George Xanders, Chief Investment Officer at JBG SMITH. "We are actively exploring additional office investments, similar to Tysons Dulles Plaza, especially where we can apply our proven mixed-used redevelopment expertise."","length":476,"tagName":"p"},{"type":"text","content":"JBG SMITH’s acquisition of this multi-building office park aligns well with its track record in transforming similar office environments via redevelopment, repositioning, and placemaking demonstrated across the DC metro area – most recently in National Landing.","length":261,"tagName":"p"},{"type":"text","content":""Our recipe for success in National Landing has informed our blueprint for investing in and redeveloping underperforming assets elsewhere in the region," said Evan Regan-Levine, Chief...