JBG Smith Lures Nonprofit From New York To Crystal City

A nonprofit is moving its headquarters from New York to Crystal City, another big win for JBG Smith in its redevelopment efforts in the neighborhood. 

The March of Dimes, an organization aimed at improving the health of babies and mothers, signed on for 28K SF at 1550 Crystal Drive, the Washington Business Journal reports. 

Jarvis Commercial Real Estate CEO Ernie Jarvis and CBRE's Mark Teitelbaum represented the tenant. Jarvis tells Bisnow the nonprofit was looking to be closer to the federal government. 

"The CEO's vision was to bring the March of Dimes to be more prominent by establishing its headquarters in D.C., the capital of the nation, and establishing a better relationship with the lawmakers on Capitol Hill," Jarvis said. 

In Crystal City, it selected a submarket undergoing a major redevelopment effort by the region's largest real estate company, JBG Smith. The developer is currently working on the first phase, which will bring an Alamo Drafthouse Cinema to the neighborhood, and it is looking for a specialty grocer to anchor the 1550 Crystal building where the March of Dimes will move. 

JBG Smith in March signed Interstate Hotels & Resorts for a 35K SF lease at 2011 Crystal Drive. It is hoping to land a much larger tenant in either Amazon or Apple, which are both looking at Crystal City for their major new campuses. 

"Crystal City has a good proximity to Washington," Jarvis said. "JBG made a compelling offer and was able to articulate its vision for the continued unveiling of Crystal City and its amenities, transportation and its attractiveness to other nonprofits."