Author Topic: JBGS - JBG Smith  (Read 15266 times)

Gregmal

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Re: JBGS - JBG Smith
« Reply #30 on: December 08, 2020, 08:26:01 AM »
Dont know about you, but this one is still in the not selling, looking to add more on the dip category for me. Got lucky adding good size in the 23s, but as always...wish I had a little more.


CorpRaider

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Re: JBGS - JBG Smith
« Reply #31 on: December 08, 2020, 02:30:47 PM »
That's fire right there!

thepupil

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Re: JBGS - JBG Smith
« Reply #32 on: December 16, 2020, 03:08:40 PM »
https://www.youtube.com/watch?v=GC5E8ie2pdM

Quote
JBG SMITH Welcomes Amazon to Newly Renovated 1770 Crystal Drive
Amazon HQ2 Employees Begin Occupancy of 14-Story Office Building After Completion Two Quarters Ahead of Schedule
Business Wire
BETHESDA, Md. -- December 16, 2020
JBG SMITH (NYSE: JBGS), a leading owner and developer of high-quality, mixed-use properties in the Washington, DC market, has completed construction of 1770 Crystal Drive, an approximately 273,000 square-foot office building in National Landing. The entire 259,000 square-foot office portion of the 14-story building is now leased by Amazon as part of its HQ2 expansion to Northern Virginia.
The opening of the newly reimagined 1770 Crystal Drive coincides with the two-year anniversary of Amazon’s selection of National Landing as the location of its second headquarters and JBG SMITH as its partner to house and develop the project. The building was completed two quarters ahead of schedule and under budget.
Amazon’s offices at 1770 Crystal Drive are part of the initial 537,000 square feet of existing National Landing office space the company agreed to lease from JBG SMITH in November 2018. Since then, Amazon has continued to grow its National Landing leased footprint, which now encompasses 857,000 square feet across five JBG SMITH buildings.
In addition, JBG SMITH is managing the construction of 2.1 million square feet of office space in two sustainably designed towers, 50,000 square feet of community-serving retail, and more than an acre of public open space, representing the first phase of Amazon’s new headquarters in National Landing.
“The return to productive use of 1770 Crystal Drive represents yet another significant milestone in National Landing’s ongoing transformation into a vibrant 18-hour neighborhood,” said Matt Kelly, Chief Executive Officer of JBG SMITH. “We are thrilled to partner with Amazon and accommodate its growing presence in the region as we continue to make progress on its modern new headquarters.”
Working with Gensler, JBG SMITH has reinvented 1770 Crystal Drive with a striking contemporary design. A floor-to-ceiling glass curtain wall and metal panels form the building’s sleek new façade, and a redesigned two-story lobby with high-end finishes create an elevated arrival experience. New outdoor terraces constructed on the upper floors offer expansive views of the DC skyline, Potomac River, and Reagan National Airport, and a double height pedestrian colonnade highlights 1770 Crystal Drive’s transformed retail spaces and storefronts. The building’s mechanical systems have also been upgraded, and the elevators have been modernized with destination dispatch technology.
1770 Crystal Drive is conveniently located just a short walk from the Crystal City Metro and VRE station and sits adjacent to a recently completed street-level retail project along Crystal Drive.

thepupil

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Re: JBGS - JBG Smith
« Reply #33 on: January 15, 2021, 03:11:41 AM »
Placemaking!

Quote
JBG SMITH to Begin Initial Phases of Potomac Yard Development
Anchored by Virginia Tech’s Innovation Campus, JBG SMITH to Develop Nearly 2 Million Square Feet of Educational, Office, and Multifamily Buildings at National Landing Site
Business Wire
BETHESDA, Md. -- January 14, 2021
JBG SMITH (NYSE: JBGS), a leading owner and developer of high-quality, mixed-use properties in the Washington, DC market, will start demolition and infrastructure work in Alexandria’s Potomac Yard this month on a new generation of educational, commercial, and multifamily space anchored by the $1 billion Virginia Tech Innovation Campus.
JBG SMITH is the master developer on behalf of both Virginia Tech and JPMorgan for the 20-acre innovation district adjacent to the planned new Potomac Yard Metro Station. In December, JBG SMITH and Virginia Tech received final approvals from the city to move forward with the first phase of an innovation district encompassing approximately 1.7 million square feet of space including four office towers and two residential buildings with retail at the base.
For Virginia Tech’s portion of the development square footage, the university will proceed with construction of their first phase of a 300,000-square foot educational and research building.
The university’s 11-story academic building will house instruction, research, office, and support spaces for masters and doctoral graduate programs focused in computer science and computer engineering. Designed by SmithGroup with sustainability, connectivity, and integrated technology in mind, the distinctive building will be able to capture sunlight and convert it to energy and it is expected to achieve LEED recognition from the US Green Building Council. Virginia Tech is slated to begin construction next summer, with occupancy expected in 2024.
“It is a testament to the importance of this initiative, and the determination of our project partners, that we were able to navigate this complicated approval process in the midst of a global pandemic,” said Kai Reynolds, Chief Development Officer at JBG SMITH. “We are grateful to our colleagues at Virginia Tech for presenting such a bold and compelling vision for its new urban innovation campus, and to the dedicated Alexandria City staff for embracing that vision, even as the world shifted around us.”
Lance Collins, Vice President and Executive Director of the Virginia Tech Innovation Campus, said the campus and surrounding innovation district are designed to unite a diverse faculty and student community with partners in the private and public sectors.
“Bringing academia, industry, and government together is how we will create impactful programs, transformative research and strong leaders who are ready to address the nation’s escalating technology challenges and create the next generation of tech companies,” he said.
In addition to the Virginia Tech Innovation Campus, the surrounding district plans include a vibrant mixed use of multifamily units, commercial space, and ground-floor retail. The project also includes more than 57,000 square feet of planned public and private open space.
About JBG SMITH
JBG SMITH is an S&P 400 company that owns, operates, invests in and develops a dynamic portfolio of high-growth mixed-use properties in and around Washington, DC. Through an intense focus on placemaking, JBG SMITH cultivates vibrant, amenity-rich, walkable neighborhoods throughout the Capital region, including National Landing where it now serves as the exclusive developer for Amazon’s new headquarters. JBG SMITH’s portfolio currently comprises 20.7 million square feet of high-growth office, multifamily and retail assets, 98% at our share of which are Metro-served. It also maintains a development pipeline encompassing 17.1 million square feet of mixed-use development opportunities. For more information on JBG SMITH please visit www.jbgsmith.com.
« Last Edit: January 15, 2021, 03:29:47 AM by thepupil »

tnp20

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Re: JBGS - JBG Smith
« Reply #34 on: January 18, 2021, 02:37:57 PM »
Might be worth looking at comparable....BFS is more of a comparable than AHH.

https://finance.yahoo.com/chart/BFS#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--

BFS is mostly Metro DC area based with 15% of the properties outside that area. It doesnt have the Amazon sizzle though but believe it actually has better mix of properties in aggregate.

thepupil

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Re: JBGS - JBG Smith
« Reply #35 on: January 18, 2021, 03:15:50 PM »
Haven’t looked at Saul in years, thanks for bringing it up.

For Saul, isn’t over 80% of square feet shopping centers? I know they have a few big mixed use developments that are similar to what JBGS does, but it’s not clear to me that those are big enough to change the fact that it’s mostly a shopping center REIT and not really comparable.

That said they describe themselves as shifting their focus to transit centric resi/mixed use in their 10-K (see below) so maybe more significant than I thought.

Have you looked at the company in depths?

The Company’s primary strategy is to continue to focus on diversification of its assets through development of transit-centric, residential mixed-use projects in the Washington, D.C. metropolitan area. The Company’s operating strategy also includes improvement of the operating performance and internal growth of its Shopping Centers and will supplement its development of residential mixed-used projects with selective redevelopment and renovations of its core Shopping Centers.


Fun fact: I bid on a house on Saul Road (named after the same family)

tnp20

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Re: JBGS - JBG Smith
« Reply #36 on: January 21, 2021, 05:08:32 PM »
Yes, its mostly grocery anchored retail strips - that have gyms and restuarants - less likely to get Amzon'ed. They are moving to develop mixed use properties along metro corridor.  They have some good locations from long time - many depreciated down to low values and have huge redevelopment potential should the strip-retail model not work out just because of location.

I am comfortable with it - but its run by a very old guy and they dont do much of analysts calls or presentations - its old school.

tnp20

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Re: JBGS - JBG Smith
« Reply #37 on: January 21, 2021, 05:10:51 PM »
I lived in Metro-DC area in early 1990s...went back a few years ago - could not believe the huge growth.

Land values in the metro DC area will continue to go up long term because of Government and its contractors.