New trophy office building now 65% pre-leased

CHEVY CHASE, Md. -- (Business Wire)

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 CBRE’s Washington, DC office and Beveridge & Diamond, P.C., a national law firm, will be joining Goodwin Law at 1900 N Street. CBRE has signed a 55,054 square foot lease and Beveridge & Diamond has signed a 41,482 square foot lease at the new trophy office building located in the Central Business District of Washington, D.C.

“We are pleased and honored that CBRE and Beveridge & Diamond have selected 1900 N Street for their Washington, DC offices, and we are thrilled to partner with them to deliver a world-class environment,” said David Ritchey, Executive Vice President and Head of Commercial Leasing for JBG SMITH. “The superior design and forward-looking architecture of 1900 N Street has allowed us to successfully pre-lease a substantial portion of the building. The bulk of the remaining space in our three under-construction office assets is extraordinarily well positioned at or near the top of the buildings with excellent views and light.”

The 271,433-rentable-square-foot, trophy office building is one block from the Dupont Circle Metro station and four blocks from the Farragut West Metro station. The 11-story development is designed as a translucent and modern interpretation of a tower with an iconic structural beam skeleton. Its one-of-a-kind architecture and prime location in the heart of D.C. have contributed to strong leasing traction, with 65% of the building currently pre-leased. The building topped out in November 2018 and is expected to be completed in early 2020.

CBRE’s new office at 1900 N Street is part of its global “Workplace360” initiative. It will feature state-of-the-art technology and design that enhances workplace experience and seamlessly connects employees both to the building, and to the vibrant Dupont Circle neighborhood amenities.

Beveridge & Diamond, one of the top-ranked national law firms focused on environmental law and litigation, is moving from 1350 Eye Street, NW and will occupy the entire 2^nd and 3^rd floors, as well as a portion of the ground floor beginning June 2021. The firm will have their own dedicated entrance on the ground floor of N Street.

“We chose the JBG SMITH building for its innovative design, high ceilings, virtually column-free configuration, light filled floorplate and overall ability to support our future ‘Workplace360’ vision,” said Kyle Schoppmann, Executive Managing Director of CBRE’s Mid-Atlantic region. “Our new workplace will foster increased collaboration and agility, and more wholly reflect the way we think, work, and serve our clients.”

“As environmental law evolves, collaboration with clients and one another drives our success. We needed flexible, modern office space that brings us and our clients together to deliver results, and we found it in the unmatched combination of design and features at 1900 N. We look forward to returning to a great neighborhood where the firm had offices earlier in its history,” said Russ LaMotte, Beveridge & Diamond’s Managing Principal who led the firm’s team in its comprehensive, search process and lease negotiations.

CBRE’s Lou Christopher, Jordan Brainard and Brian Murphy represented CBRE in the transaction. Gary Stein & Jon Glass of Savills Studley represented Beveridge & Diamond.

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.

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE: CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates) and serves real estate investors and occupiers through 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

About Beveridge & Diamond, P.C.

Beveridge & Diamond is the first and largest national law firm to focus on environmental law and litigation. Our 110 lawyers in 8 U.S. offices work throughout the U.S. and around the world to navigate environmental, health, and safety (EHS) regulatory, compliance, enforcement (civil and criminal) and permitting challenges. We are also environmental litigators (including toxic tort, nuisance and federal land leasing and royalty matters) and we support the environmental aspects of transactions and infrastructure development. Chambers USA Guide to the Legal Profession, Legal 500 and U.S. News-Best Lawyers rank B&D as a top-tier U.S. environmental and litigation practice because of our unique ability to assist clients with complex environmental matters that threaten their operations and business success.

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Contacts:

Investor Relations
Jaime Marcus
SVP, Investor Relations
(240) 333-3643
jmarcus@jbgsmith.com

Media Inquiries
Jeff Goldberg
Live Wire
(703) 519-1600
jgoldberg@livewiredc.com

Source: JBG SMITH Properties