JBG Cos. on Wednesday revealed it will move its headquarters from Chevy Chase to an office building under development at 4747 Bethesda Ave. in Bethesda.
The 14-story building that JBG aims to complete in 2019 will devote 280,000 square feet to office space and 7,000 square feet to retail, according to a press release. The announcement came as JBG is preparing to merge with Vornado/Charles E. Smith and indicated that the new entity called JBG Smith will move into the building’s lower floors.
“The abundance of transit options, fine schools and robust amenities make this a terrific location in which to do business,” W. Matthew Kelly, JBG managing partner, said in a prepared statement.
The headquarters decision will keep more than 230 employees in Maryland, bring 138 additional jobs to the state and create 55 new positions, according to the release. JBC Cos., the region’s largest development company, is currently based at 4445 Willard Ave. in Chevy Chase.
Gov. Larry Hogan called JBG’s decision a “win for Montgomery County and for Maryland,” and County Executive Ike Leggett said the developer has “contributed immensely to the region’s community-building and economic vitality,” the release stated.
JBG spokeswoman Julie Chase said the company had considered moving outside the state.
“We’re always looking around the DMV, so we were looking at other locations,” she said.
The office building at the corner of Woodmont and Bethesda avenues will stand next to another JBG project at 4749 Bethesda Ave., a location that will accommodate gourmet food retailer Dean & DeLuca.