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BETHESDA, Md. – January 7, 2020 — JBG SMITH (NYSE: JBGS), a leading owner and developer of high-quality, mixed-use properties in the Washington, DC market, announced today it has teamed up with Hana, a subsidiary of CBRE Group, to serve as the neighborhood provider and operator of flexible space solutions in National Landing. Hana will initially lease approximately 39,000 square feet of space at 2451 Crystal Drive. The National Landing location will be the first on the east coast and is expected to open in 2020.
Hana opened its first location in Dallas in August of 2019 and has announced three additional locations in London and one in Irvine, California. Hana offers flexible office leasing for large enterprises, mid-tier companies, and startups, which have proven to be a strong and growing component of the DC region’s larger office market ecosystem. Through this partnership, tenants will have the benefit of the Hana offering for immediate space needs and will also be integrated into the JBG SMITH customer experience, giving them the ability to grow as their needs evolve over time.
“JBG SMITH is pleased to welcome Hana to the east coast and to the rapidly growing and diversifying National Landing neighborhood following Amazon’s HQ2 announcement,” said David Ritchey, Executive Vice President of JBG SMITH. “We believe Hana’s unique approach to adaptable workspaces and highly amenitized office space aligns perfectly with industry trends and is complementary to National Landing’s existing offerings, as well as JBG SMITH’s overall portfolio. Hana gives our existing and future office tenants the ability to scale their growth with significant flexibility, providing seamless life span support while expanding the range of offerings we provide, including pre-built suites, flexible space, and traditional longer-term office space.”
As a subsidiary of CBRE Group, Hana has the financial strength, operating excellence, deep tenant relationships, and customer service-focused approach that JBG SMITH expects to deliver in all aspects of the office user experience in National Landing.
Located in the heart of National Landing, 2451 Crystal Drive encompasses nearly 400,000 square feet. The 11-story building includes a recently renovated lobby with a hospitality-driven design while the immediate neighborhood features an abundance of existing amenities, including an on-site childcare facility, expansive fitness center with showers and locker rooms, new restaurants, a café, and bike storage and repair. Just two blocks from the Virginia Railway Express and the Crystal City Metro Station, 2451 Crystal Drive is also easily accessible to major area highways and highly proximate to Reagan National Airport.
“Hana is thrilled to partner with JBG SMITH for our first east coast location at National Landing surrounded by fantastic amenities available to Hana members and a dramatic transformation occurring within the neighborhood,” said Andrew Kupiec, CEO of Hana. “We believe our unique flexible space solution, coupled with National Landing’s array of live, work and play offerings, will provide Hana clients a premier workspace to attract and retain top talent.”
Hana’s core offering is Hana Team, which provides private office suites that meet the needs of high-growth organizations and large corporate users of office space. Hana Team combines the benefits of flexible space with the amenities, technology, thoughtful space design, and control over branding and culture that sophisticated companies require. Each Hana unit also features two other integral offerings – Hana Meet and Hana Share. Hana Meet provides conference room and event space that can be reserved on an hourly, daily or weekly basis. Hana Share provides traditional co-working space in which users share services, amenities, and technology in a communal setting.
More information on Hana at National Landing can be found at: www.yourhana.com/arlington/national-landing/.
JBG SMITH is an S&P 400 company that owns, operates, invests in, and develops a dynamic portfolio of high-quality mixed-use properties in and around Washington, DC. Through an intense focus on placemaking, JBG SMITH cultivates vibrant, amenity-rich, walkable neighborhoods throughout the Capital region, including National Landing where it now serves as the exclusive developer for Amazon’s new headquarters. JBG SMITH’s operating portfolio currently comprises approximately 19 million square feet of high-quality office, multifamily and retail assets, 98% of which are Metro-served. It also maintains a robust future pipeline encompassing approximately 20 million square feet of mixed-use development opportunities. For more information on JBG SMITH please visit www.jbgsmith.com.
Certain statements contained herein may constitute “forward-looking statements” as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are not guarantees of performance. Certain statements contained herein may constitute “forward-looking statements” as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are not guarantees of performance. They represent our intentions, plans, expectations and beliefs and are subject to numerous assumptions, risks and uncertainties. Consequently, the future results of JBG SMITH Properties (“JBG SMITH” or the “Company”) may differ materially from those expressed in these forward-looking statements. You can find many of these statements by looking for words such as “approximate”, “believes”, “expects”, “anticipates”, “intends”, “plans”, “would”, “may”, or similar expressions in this press release. We also note the following forward-looking statements: in the case of our construction and near-term development assets, estimated square feet, estimated number of units and in the case of our future development assets, estimated potential development density; potential government incentives; planned infrastructure improvements and education investments; and the economic impacts of Amazon’s new headquarters at National Landing on the DC region, and National Landing. Many of the factors that will determine the outcome of these and our other forward-looking statements are beyond our ability to control or predict. These factors include, among others: adverse economic conditions in the Washington, DC metropolitan area, the timing of and costs associated with development and property improvements, financing commitments, and general competitive factors. For further discussion of factors that could materially affect the outcome of our forward-looking statements and other risks and uncertainties, see “Risk Factors” and the Cautionary Statement Concerning Forward-Looking Statements in the Company's Annual Report on Form 10-K for the year ended December 31, 2018 and other periodic reports the Company files with the Securities and Exchange Commission. For these statements, we claim the protection of the safe harbor for forward looking statements contained in the Private Securities Litigation Reform Act of 1995. You are cautioned not to place undue reliance on our forward-looking statements. All subsequent written and oral forward-looking statements attributable to us or any person acting on our behalf are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. We do not undertake any obligation to release publicly any revisions to our forward-looking statements after the date hereof.