CBRE Relocating Its Bethesda Office to JBG SMITH Tower
By Keith Loria April 19, 2021 1:00 pm
reprints
CBRE (CBRE) will relocate its Bethesda, Md., office to 4747 Bethesda Avenue, a 15-story office building owned by JBG Smith (JBGS) in the city’s downtown, Commercial Observer has learned.
The brokerage signed a lease for nearly 7,800 square feet at the newly constructed, trophy office building, according to CBRE. The firm is aiming to move before summer from its current Bethesda office at 7501 Wisconsin Avenue. Neither the asking rent or leasing terms were disclosed.
The move is part of CBRE’s Workplace360 initiative, a new approach to workplace strategy, designed to promote employee flexibility, mobility and productivity. The Workplace360 offices feature both collaborative and private spaces that employees can self-select to accommodate their hour-by-hour needs.
“Over the past 10 years, Workplace360 has transformed how we work at CBRE and our flexible strategy enabled us to adapt quickly to the current challenging environment,” Kyle Schoppmann, CBRE’s mid-Atlantic division president, said in prepared remarks. “For new locations such as Bethesda, we are prioritizing high-quality healthy buildings, access to functional outdoor space, and quality building amenities that will complement our activity-based workplace.”
The 4747 Bethesda Avenue building features amenities, such as a fitness center with studio space and a penthouse rooftop terrace. The building is close to Bethesda Row, Bethesda Metro Station, and the Capital Crescent Trail.
JBG SMITH moved its headquarters to the property upon the building’s completion in 2019.
“CBRE’s selection of the building for their Bethesda workplace puts them alongside other leading companies and further validates the property’s exceptional location, best-in-class design, and enhanced healthy workplace protocols,” Dave Ritchey, JBG SMITH’s executive vice president, said.
CBRE’s Brad Wilner, Charlie Carroccio and Charlene Bogdanor represented the brokerage in-house in the lease negotiations, while Andrea Murray of JBG SMITH represented her firm.
