Report: JBG Smith Considering Parting Ways with Commerce Executive Park Development Plan

An approved plan for massive development of the Commerce Executive Park near the Wiehle-Reston East Metro station may be at a fork in the road, the Washington Business Journal reports.

According to the WBJ, JBG Smith is marketing the 12-acre property Commerce Executive Park to prospective buyers. JBG Smith took ownership of the property — south of the Dulles Toll Road and at the northwest corner of the Sunrise Valley Drive/Wiehle Avenue intersection — from Vornado Realty Trust earlier this year as part of the recent merger of JBG Cos. and Vornado’s D.C. business unit, Charles E. Smith.

The three existing six-story office buildings would remain in the redevelopment plan, but the rest would be transformed into a live-work-dine-shop destination for those who want to be close to Metro and Reston’s busy business corridor. The new buildup would include towering buildings that would be among the tallest in Reston:

  • a 22-story, 275-foot-tall office building
  • a 24-story, 255-foot-tall residential building with up to 300 dwelling units
  • a 14-story, 165-foot-tall hotel with 175 rooms
  • a 7-story, 100-foot-tall residential building with up to 200 dwelling units

The plans also include a total of 1.5 acres of open space, with small parks, bicycle tracks and a promenade along the businesses, and would feature public art including a water feature.

According to the WBJ report, the fact that CBRE is marketing the properties for JBG Smith doesn’t necessarily mean a sale is imminent or will even happen at all.

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