)
JBG Smith will move its HQ into its new Downtown Bethesda project when it delivers in 2019, and now it will be joined by another Montgomery County-based REIT.
Host Hotels & Resorts has signed on for about 55K SF at the 4747 Bethesda Ave. project, and plans to move its HQ in late 2019 from the Rock Spring Business Park in a more suburban part of Bethesda, the Washington Business Journal reports.
The HQ move mirrors the major relocation announced in January by Marriott International. The hotel giant plans to move its HQ from Rock Spring Business Park to Downtown Bethesda, where it will occupy a new 825K SF office building Bernstein Cos. and Boston Properties are building.
Montgomery County has agreed to provide a $300K grant to Host Hotels for staying in the county, and Maryland approved a $600K loan to the company. The county and state offered Marriott $22M in incentives for its decision to stay in Bethesda.
At 4747 Bethesda Ave., Host's new office will occupy JBG Smith's 287K SF mixed-use development with a Dean & Deluca gourmet market in an attached two-story retail component. The property sits just east of the Bethesda Row retail plaza and one block west of Carr Properties' 937K SF Apex Building development, where the western terminus of the Purple Line is planned to open in 2022.
)
)
)
)
)
)
)
)
)
)
)
)