**JBG Smith Acquires Tysons Dulles Office Plaza in Virginia**
JBG Smith has acquired Tysons Dulles Plaza, a 15-acre office campus located in the heart of Tysons, Virginia.
The campus consists of three buildings totaling approximately 500,000 square feet of office space and includes 1,553 parking spaces. It is within walking distance of the Spring Hill Metro station on the Silver Line and sits adjacent to the Dulles Toll Road (Route 267), offering prime accessibility.
JBG Smith plans to redevelop one of the office buildings into a residential property. The remaining two buildings will undergo modernization and remain operational as office spaces for long-term tenants.
“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-use redevelopment expertise.”
