JBG SMITH has acquired Tysons Dulles Plaza, a 15-acre office campus in the heart of Tysons, Virginia. 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 Route267, 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. 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.
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. JBG SMITH intends To seek similar new investments in the market that offer the most accretive returns and that align with its strategy and competitive advantages including well-located office, such as Tysons Dulles Plaza., at historically favorable pricing.
