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JBG mulls putting Va. development site on the block

JBG SMITH Properties is considering the sale of a mixed-use development site at Sunrise Valley Dr. & Wiehle Ave. in Reston, Va., the Washington Business Journal reported.

The company tapped CBRE to market the three-building Commerce Executive Park it acquired from the Vornado Realty Trust spinoff. The property is about 87% leased and is cleared for more than one million square feet of residential, hotel, office and retail space.

JBG SMITH is also looking to off-load Summit I & II, a two-building, fully leased 290,598-square-foot property, with CBRE also tasked in finding a buyer, according to the report.

Representatives of the company were unavailable for comment, the publication added.