{"id":1004163563,"date":"2017-01-11T09:26:06","date_gmt":"2017-01-11T17:26:06","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004163563"},"modified":"2025-02-18T05:46:10","modified_gmt":"2025-02-18T13:46:10","slug":"jbg-signs-anchor-tenant-to-500-lenfant-plaza-begins-construction","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/jbg-signs-anchor-tenant-to-500-lenfant-plaza-begins-construction\/","title":{"rendered":"JBG Signs DC Anchor Tenant, Begins Construction"},"content":{"rendered":"<p>The JBG Cos. has signed an anchor tenant and will begin construction on its 12-story, 212,000-square-foot office building at 500 L&#8217;Enfant Plaza in Washington, D.C. Urban Institute will be vacating its current headquarters at 2100 M St. NW and has signed on for 121,000 square feet, covering six floors.<\/p>\n<div id=\"attachment_1004163576\" style=\"width: 341px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/500-LEnfant-Plaza.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004163576\" data-attachment-id=\"1004163576\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/jbg-signs-anchor-tenant-to-500-lenfant-plaza-begins-construction\/500-lenfant-plaza\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/500-LEnfant-Plaza.jpg\" data-orig-size=\"829,569\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;IvyLee Rosario&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1483968731&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"500 L&#8217;Enfant Plaza\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;500 L&#8217;Enfant Plaza&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/500-LEnfant-Plaza.jpg?w=829\" class=\"wp-image-1004163576 \" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/500-LEnfant-Plaza.jpg\" alt=\"500 L'Enfant Plaza\" width=\"331\" height=\"227\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/500-LEnfant-Plaza.jpg 829w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/500-LEnfant-Plaza.jpg?resize=300,206 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/500-LEnfant-Plaza.jpg?resize=768,527 768w\" sizes=\"auto, (max-width: 331px) 100vw, 331px\" \/><\/a><p id=\"caption-attachment-1004163576\" class=\"wp-caption-text\">500 L&#8217;Enfant Plaza rendering<\/p><\/div>\n<p>The building is part of JBG&#8217;s multiyear renovation of L&#8217;Enfant Plaza, in which construction began with 900 L&#8217;Enfant, where the new International Spy Museum will open in 2018. The podium for 500 L&#8217;Enfant, which will be part of the JGB Smith portfolio after the company <a href=\"https:\/\/www.commercialsearch.com\/news\/vornado-to-spin-off-dc-portfolio-in-8-4b-merger-with-jbg\/\" target=\"_blank\" rel=\"noopener noreferrer\">merges with Vornado<\/a> this year,\u00a0is already constructed and vertical construction will begin in March. The asset will offer a conference center with a broadcast auditorium for the Urban Institute&#8217;s programming, a fitness center, indoor access to L&#8217;Enfant Plaza Metro Station, the largest private parking garage in D.C., 120,000 square feet of on-site amenities including more than 20 dining options and a\u00a0dozen retailers, 70,000 square feet of green space, a 5,500-square-foot rooftop deck overlooking the Southwest Waterfront. The building is also adjacent to the newly <a href=\"https:\/\/www.commercialsearch.com\/news\/dcs-lenfant-plaza-hotel-to-undergo-renovation-after-acquisition-by-hotel-group\/\" target=\"_blank\" rel=\"noopener noreferrer\">remodeled 370-key hotel<\/a>, which was closed in 2014 and\u00a0is expected to open in 2018 as a Hilton.<\/p>\n<p>&#8220;We have been working with Urban Institute for more than a year,&#8221; said Britt Snider, JBG principal, in prepared remarks. &#8220;We are excited the building is going forward. One of the concerns from prospective tenants was whether the building was going to go. Now, it obviously is and we hope this will get people interested in it.&#8221;<\/p>\n<p>JBG has had plans for this property for a long time, purchasing 1.7 million square feet of space at 955 and 470\/490 L&#8217;Enfant Plaza for $200 million in\u00a02003. The 955 building underwent a $12 million renovation and reopened in 2014. As part of a 14-year-old lawsuit over the property&#8217;s rightful owner, a D.C. Superior Court judge ordered JBG to sell the L&#8217;Enfant Plaza Hotel to Stanford Hotels Corp.\u00a0in 2012, just as JBG offered up an equity stake in the office properties and said it would put $140 million into upgrading the underground shopping area at L\u2019Enfant.<\/p>\n<p>Urban Institute is set to occupy the building in the second quarter of 2019.<\/p>\n<p><em>\u00a0Image courtesy of L&#8217;Enfant Plaza<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Urban Institute is set to occupy the building in the second quarter of 2019.<\/p>\n","protected":false},"author":746,"featured_media":1004163576,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21782,21783,21742,21747,1615],"tags":[33387,33386,33311,33388,33030],"class_list":["post-1004163563","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-development","category-investment","category-latest","category-office","category-washington-dc","tag-britt-snider","tag-lenfant-plaza-hotel","tag-the-jbg-companies","tag-urban-institute","tag-vornado-realty-trust"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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She has a background in Journalism and joined the team in 2016. She produces the MHN Daily newsletter, manages byline content, oversees the Research Center for both brands and hosts the Multifamily's Top Marketers podcast. 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