Newmark represented The JBG Companies in a 490,998-square-foot build-to-suit deal with the U.S. General Services Administration (GSA) that will bring The National Institute of Allergy and Infectious Diseases (NIAID) to Rockville, Md., when completed in 2014. The move will enable NIAID to relocate several of its current offices in Bethesda, Md., into a sustainable, state-of-the-art facility at 5601 Fishers Lane.
Scott Johnston, Todd Grinspoon, Austin Sanders and Greg Schnider of Newmark represented JBG. James Phelan and Glenn Harvey represented GSA in-house with Studley’s Mett Miller and Julie Rayfield.
“We are thrilled for the opportunity to build a new home for NIAID in Montgomery County, and to welcome them to the Twinbrook community,” said Rod Lawrence, a partner with JBG. “Twinbrook has been a focus for us for nearly 20 years and, in conjunction with our other holdings there, particularly Fishers Place and Twinbrook Station, it has become a great neighborhood where you can live, shop and work.”
As an active owner in Twinbrook, JBG has already developed several office buildings totaling nearly one million square feet. In 2010, it opened The Alaire at Twinbrook Station, an apartment and retail community close to the Metro last year and has fully leased all 279 apartments there. The company also recently refurbished an industrial building nearby, giving it new life as The Element 12420, an attractive, LEED Gold-certified office building and has leased that, too.
Twinbrook Station is a concentration of offices, residences, shopping, parks and plazas that JBG is designing and developing on both sides of the Metro line. The dense mix of uses that is emerging is expected to reduce the area’s vehicle miles traveled by making public transportation more accessible and more attractive.
About The JBG Companies
Headquartered in Chevy Chase, Maryland, The JBG Companies is an active developer, owner and operator of office, residential, hotel and retail properties with more than $10 billion in assets under management and development. JBG has established a reputation as one of the leading real estate companies in the Washington metropolitan area. Founded in 1960, in 2010 The JBG Companies marked half a century of business success and charitable involvement in the greater Washington community.
Newmark is one of the largest independent real estate service firms in the world. Headquartered in New York, Newmark and London-based partner Knight Frank operate from over 220 offices in established and emerging property markets on six continents. With a combined staff of 7,300 and revenues last year exceeding $861 million, this major force in real estate is meeting the local and global needs of owners, tenants, investors and developers worldwide. For further information, visit www.newmarkkf.com.