News

JBG Smith and J.P. Morgan Global Alternatives will develop, manage and own the new mixed-use development as the next phase of Potomac Yard's redevelopment.

The buildings sold at the submarket's highest price per square foot, suggesting increased investor confidence.

The 1.7 million-square-foot skyscraper is now 79% leased.

"The transaction provides Equity Commonwealth with a high-quality, net-leased industrial business with stable cash flows, says Chairman Sam Zell.

The 187,884-square-foot portfolio includes properties ranging from 4,000 square feet to 26,000 square feet.

The agreement gives GPM flexibility in its growth strategy.

Mike Watts, industry veteran of more than 25 years, joins CBRE from Transwestern, where he most recently served as president of the Midwest.

Transwestern Real Estate Services has hired Grayson Gill as executive managing director to help guide business development and integrate platform enhancements.