PBS Finds New Location in Crystal City
- Jan 17, 2019
PBS has signed a 15-year lease at 1225 S. Clark St. at National Landing in the D.C. suburb of Crystal City, Va., with landlord JBG Smith Properties.
The company currently occupies space at JBG Smith’s 2100 Crystal Dr. building in the same market, and will transfer to its new 120,000-square-foot space next year.
“As a long-standing member of the community, PBS’s decision to remain and relocate within National Landing will contribute to the vibrant workforce of the growing North District,” David Ritchey, JBG Smith’s executive vice president of leasing, told Commercial Property Executive. “This agreement also represents the leasing of the last large block of space within the North District.”
“PBS has been a long-time tenant and a great partner to JBG Smith,” Ritchey said. “Their decision to continue their growth with us in National Landing for another 15 years shows the strength of the market and of our relationship.”
Cushman and Wakefield’s Paul Darr, Dale Powell and Chaise Schmidt represented PBS in the lease agreement.
The place to be
A hotbed of activity, National Landing is the newly defined interconnected and walkable neighborhood that encompasses Crystal City, the eastern part of Pentagon City and the northern part of Potomac Yard. Located across the Potomac River, National Landing is known both as one of the two Amazon HQ2 locations and as one of the area’s most popular urban mixed-use communities.
National Landing is close by the Crystal City Metro station, offers convenient access to the Virginia Railway Express and is near Reagan National Airport. PBS’s new location also provides good proximity to Long Bridge Park and the future Central District Retail.
“Today’s workforce demands active neighborhoods, convenient access to mass transit and green space—National Landing offers all of these and more,” Ritchey said. He added that the lease shows JBG Smith’s commitment to retain and attract diverse industries to National Landing, including leading associations and non-profits.
Earlier this month, Spain-based Ponte Gadea acquired The Investment Building, a trophy office property in Washington, D.C., from a joint venture of JP Morgan Asset Management and JBG Smith for $385.4 million.
Images courtesy of JBG Smith