Pebblebrook Hotel Trust Moving to 4747 Bethesda Avenue

New trophy office building in downtown Bethesda is now 83% pre-leased

CHEVY CHASE, Md.–(BUSINESS WIRE)–lt;a href=”” target=”_blank”gt;$JBGSlt;/agt; lt;a href=”” target=”_blank”gt;#JBGSMITHlt;/agt;–JBG SMITH Properties (NYSE: JBGS), a leading owner and developer of
high-quality, mixed-use properties in the Washington, DC market, is
pleased to announce that Pebblebrook Hotel Trust (NYSE: PEB) will
relocate its headquarters to 4747 Bethesda Avenue in downtown Bethesda,
Maryland. The upscale lifestyle-oriented hotel owner will occupy
approximately 16,000 square feet bringing the building to 83% pre-leased.

“Pebblebrook Hotel Trust is another best-in-class addition to the roster
of tenants at 4747 Bethesda Avenue,” said David Ritchey, Executive Vice
President at JBG SMITH. “The building has a commanding presence in the
heart of downtown Bethesda, and we are honored that multiple marquis
companies have chosen to make it their headquarters location.”

Pebblebrook is the fifth tenant to commit to 4747 Bethesda Avenue and
the fourth to make the building its headquarters location. The company
will consolidate from nearby 7315 Wisconsin Avenue following its $5.1
billion acquisition of LaSalle Hotel Properties, located at 7550
Wisconsin Avenue, in November 2018.

The newly combined company is now the largest owner of
lifestyle-oriented hotels and resorts in the country, with a portfolio
of more than 60 upper upscale and luxury hotels and resorts in or near
18 key urban markets. Pebblebrook owns some of the Washington area’s
most iconic hotels including The Donovan, Hotel George, Hotel Monaco,
Mason and Rook Hotel, and the Sofitel Washington, DC.

“We’re excited to relocate our expanded headquarters to JBG SMITH’s
newest office development,” noted Raymond D. Martz, Chief Financial
Officer of Pebblebrook Hotel Trust. “Bethesda has become the hotel
capital of the world, so placing our headquarters in the heart of
downtown Bethesda makes sense for our company, as well as for our
employees. JBG SMITH’s team has been fantastic to work with, and we look
forward to moving in later this year.”

4747 Bethesda Avenue, delivering in the Fall of 2019, is a 291,414
square foot, trophy office building located in the heart of downtown
Bethesda, Maryland. The building is 15 floors and will feature
cutting-edge amenities and design including: a two-story, curved steel
and curtainwall façade system, floor-to-ceiling glass, and a penthouse
rooftop terrace, complete with conference and event space, a fire pit,
and an indoor/outdoor lounge. Exemplifying JBG SMITH’s commitment to
health and wellness offerings and environmentally friendly policies, the
building is seeking LEED Gold certification and includes a 3,600 square
foot, state-of-the-art fitness facility, with studio space,
shower/locker rooms, and secure storage for over 90 bicycles, with a
bicycle repair station. 4747 Bethesda Avenue is located one block from
the Red Line and future Purple Line Metro entrance, as well as the
Capital Crescent Trail.

Josh Hartman of Avison Young represented the tenant. “Josh Hartman was
instrumental to the process with Pebblebrook, and we thank him for his
diligence and professionalism. This lease execution was a great outcome
for all,” said Ritchey.


JBG SMITH is an S&P 400 company that owns, operates, invests in and
develops assets concentrated in leading urban infill submarkets in and
around Washington, DC. Our mixed-use operating portfolio comprises
approximately 19 million square feet of high-quality office, multifamily
and retail assets, 98% at our share of which are Metro served. With a
focus on placemaking, we drive synergies across the portfolio and create
amenity-rich, walkable neighborhoods. JBG SMITH’s future development
pipeline includes 19.6 million square feet of potential development
density at our share. For additional information on JBG SMITH, please

About Pebblebrook Hotel Trust

Pebblebrook Hotel Trust is a publicly traded real estate investment
trust (“REIT”) that owns primarily upper upscale and luxury full-service
hotels and resorts located in major gateway cities. The Company owns
more than 60 hotels, totaling approximately 15,000 guest rooms, located
in 10 states and the District of Columbia. For more information, please
visit us at
and follow us on Twitter at @PebblebrookPEB.


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