JBG Expands, Acquiring JBGR Retail
The JBG Cos announced that it has entered into an agreement to acquire JBGR Retail, with the transaction expected to close in January 2016. JBGR has provided retail leasing and retail asset management services to JBG’s portfolio for more than 20 years. The move to buy JBGR will bring all of the retail services under the umbrella of JBG, formerly a minority owner of JBGR, and allow the company to expand its expertise into retail-only.
JBG managing partner David Paul (shown) said in a statement, “Acquiring JBGR Retail means JBG is significantly expanding the scope of its retail leasing and management services expertise and expands a retail platform that is becoming increasingly important to our mixed-use projects.”
JBGR Retail was founded in 1995 and has developed, leased, managed and owned retail properties throughout the Mid-Atlantic region. The JBG Cos will continue to offer third-party retail and asset management services.