Amazon.com Inc. (NASDAQ: AMZN) has acquired the 12 vacant acres in Pentagon City that will soon be developed as PenPlace, the massive second phase of HQ2. The $198 million deal with JBG Smith (NYSE: JBGS), as expected, follows Arlington County’s late April approval of PenPlace, a nearly 3.3 million-square-foot project slated to include three traditional office buildings, a spiral Helix tower, three retail pavilions, a central park and an underground parking garage. Combined with the sale of 1900 N St. NW in the District, JBG Smith announced Monday it had cleared $344 million, advancing its “capital recycling strategy.” Read More...
Amazon.com Inc. (NASDAQ: AMZN) has acquired the 12 vacant acres in Pentagon City that will soon be developed as PenPlace, the massive second phase of HQ2. The $198 million deal with JBG Smith (NYSE: JBGS), as expected, follows Arlington County’s late April approval of PenPlace, a nearly 3.3 million-square-foot project slated to include three traditional office buildings, a spiral Helix tower, three retail pavilions, a central park and an underground parking garage. Combined with the sale of 1900 N St. NW in the District, JBG Smith announced Monday it had cleared $344 million, advancing its “capital recycling strategy.”
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