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Washington DC  + DC  + Office  | 
500 L'Enfant Plaza Washington DC office property sale

JBG SMITH Divests 500 L’Enfant Plaza in DC

JBG SMITH and Landmark Partners have sold 500 L’Enfant Plaza, a 215,000-square-foot office property in Washington, DC, for $167 million. The buyer wasn’t identified. JLL’s Jim Meisel and Matt Nicholson represented JBG SMITH. 

Delivered in 2019, 500 L’Enfant Plaza was 96% leased to seven tenants at the time of the sale. The building serves as the Urban Institute’s global headquarters. Other tenants include Cobec Consulting, Noblis, and the Office of the Inspector General for the Washington Metropolitan Area Transit Authority. 

“With the sale of 500 L’Enfant Plaza, we have executed more than $92 million of dispositions in 2021, the proceeds of which will be used to deleverage our balance sheet and create capacity for future multifamily investment opportunities,’ said George Xanders, CIO with JBG SMITH. “We plan to continue to capitalize on the current environment to dispose of assets as the market begins to recover from the COVID-19 pandemic.” 

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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