U.S. JBG Smith divests Commerce Executive Park for $115 million

U.S. real estate investment trust company JBG Smith has divested its three-building Commerce Executive Park in Reston, Virginia, for $115 million.

JBG Smith Properties sold the property, located by Sunrise Valley Drive and Wiehle Avenue, to an affiliate of U.S. real estate development company Comstock Holding Cos.

The property Comstock is buying includes three Class-A office buildings totaling 408,000 square feet and has entitlements in place for a further 1.1 million square feet of mixed-use development including office, residential, retail and hotel uses.

U.S. commercial real estate services and investment firm CBRE represented the seller in the transaction while Comstock’s executive vice president of Asset Management, Leasing & Development handled the transaction on behalf of the buyer.