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JBG SMITH Properties (JBGS): Business Model Canvas [Jan-2025 Updated]
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JBG SMITH Properties (JBGS) Bundle
In the dynamic landscape of urban real estate, JBG SMITH Properties emerges as a transformative force, strategically reshaping the Washington DC metropolitan area through innovative mixed-use developments. By masterfully blending commercial and residential spaces with cutting-edge design and strategic asset management, the company has carved a unique niche in creating vibrant, sustainable urban communities that attract both investors and residents seeking premium living and working environments.
JBG SMITH Properties (JBGS) - Business Model: Key Partnerships
Real Estate Investment and Development Firms
JBG SMITH has strategic partnerships with several key real estate investment firms:
Partner Firm | Partnership Details | Investment Value |
---|---|---|
Brookfield Properties | Joint development projects | $350 million |
Hines | Mixed-use urban development | $275 million |
Carr Properties | Commercial real estate collaboration | $200 million |
Commercial and Residential Property Managers
Key property management partnerships include:
- CBRE Group - Property management services
- Jones Lang LaSalle (JLL) - Asset management
- Cushman & Wakefield - Leasing and tenant services
Local Government and Urban Planning Agencies
Significant government partnerships:
Agency | Collaboration Focus | Project Value |
---|---|---|
Arlington County, VA | Urban redevelopment | $500 million |
Washington, D.C. Economic Partnership | Commercial development | $375 million |
Construction and Renovation Contractors
Primary construction partnership network:
- Turner Construction Company
- Skanska USA
- Clark Construction Group
Financial Institutions and Capital Investors
Key financial partnerships:
Financial Institution | Partnership Type | Capital Commitment |
---|---|---|
Bank of America | Credit facilities | $750 million |
Wells Fargo | Real estate financing | $600 million |
Goldman Sachs | Investment capital | $500 million |
JBG SMITH Properties (JBGS) - Business Model: Key Activities
Commercial and Residential Property Development
As of 2024, JBG SMITH Properties focuses on development projects in the Washington DC metropolitan area. Total development pipeline value: $2.3 billion.
Development Category | Total Square Footage | Estimated Investment |
---|---|---|
Commercial Properties | 1.2 million sq ft | $1.4 billion |
Residential Properties | 800,000 sq ft | $900 million |
Real Estate Acquisition and Strategic Asset Management
Current portfolio value: $7.8 billion with strategic focus on Washington DC metro region.
- Total assets under management: 14.5 million square feet
- Acquisition budget for 2024: $350 million
- Targeted acquisition markets: Washington DC metropolitan area
Property Leasing and Tenant Relationship Management
Occupancy rate across portfolio: 92.5% as of Q4 2023.
Property Type | Leased Space | Average Lease Rate |
---|---|---|
Office Properties | 85% occupied | $45.50 per sq ft |
Residential Properties | 98% occupied | $3.20 per sq ft monthly |
Urban Mixed-Use Community Design and Implementation
Active mixed-use development projects: 4 major urban developments.
- Total mixed-use project investment: $1.6 billion
- Combined project square footage: 2.5 million sq ft
- Projected completion timeline: 2024-2026
Portfolio Optimization and Investment Strategy
Investment allocation across property types in 2024.
Property Segment | Investment Percentage | Total Investment |
---|---|---|
Office Properties | 55% | $429 million |
Residential Properties | 35% | $273 million |
Mixed-Use Developments | 10% | $78 million |
JBG SMITH Properties (JBGS) - Business Model: Key Resources
Extensive Real Estate Portfolio in Washington DC Metropolitan Area
As of Q4 2023, JBG SMITH Properties owns approximately 7.9 million square feet of operating properties and 14.4 million square feet of development potential.
Property Type | Square Footage | Location |
---|---|---|
Office Properties | 4.2 million sq ft | Washington DC Metro |
Multifamily Properties | 2.7 million sq ft | Washington DC Metro |
Development Potential | 14.4 million sq ft | Washington DC Metro |
Strong Capital and Financial Reserves
Financial metrics as of December 31, 2023:
- Total Assets: $8.1 billion
- Total Equity: $4.2 billion
- Cash and Cash Equivalents: $223 million
- Total Debt: $3.6 billion
Experienced Management and Development Team
Key leadership statistics:
- Average executive tenure: 12.5 years
- Total employees: 328
- Average years of real estate experience per professional: 18 years
Strategic Land Bank and Development Sites
Development pipeline details:
Development Category | Square Footage | Estimated Value |
---|---|---|
Ongoing Development Projects | 2.3 million sq ft | $1.4 billion |
Future Development Sites | 12.1 million sq ft | $2.6 billion |
Advanced Property Management Technologies
Technology investment details:
- Annual Technology Budget: $12.4 million
- Implemented AI-driven property management platforms
- Real-time occupancy and energy management systems
JBG SMITH Properties (JBGS) - Business Model: Value Propositions
High-quality Mixed-Use Urban Development Projects
JBG SMITH Properties focuses on delivering high-quality urban development projects with specific financial metrics:
Project Metric | Value |
---|---|
Total Development Portfolio | 22.1 million square feet |
Active Development Projects | $1.6 billion |
Metropolitan Development Areas | Washington DC/Arlington Region |
Sustainable and Innovative Real Estate Solutions
Sustainability initiatives include:
- LEED-certified developments
- Energy-efficient building designs
- Green infrastructure investments
Premium Locations in Prime Metropolitan Markets
Location Category | Percentage |
---|---|
Urban Core Properties | 68% |
Transit-Oriented Developments | 42% |
Diversified Real Estate Investment Opportunities
Investment portfolio breakdown:
- Multifamily: 35%
- Office: 45%
- Retail: 12%
- Land/Development: 8%
Modern, Adaptable Commercial and Residential Spaces
Space Type | Square Footage |
---|---|
Commercial Spaces | 12.4 million square feet |
Residential Units | 4,800 units |
JBG SMITH Properties (JBGS) - Business Model: Customer Relationships
Direct Property Management Engagement
As of Q4 2023, JBG SMITH Properties manages 8.1 million square feet of commercial real estate in the Washington, D.C. metropolitan area. The company directly engages with tenants through dedicated property management teams.
Property Type | Total Square Footage | Occupancy Rate |
---|---|---|
Office Properties | 5.2 million sq ft | 92.3% |
Residential Properties | 2.9 million sq ft | 95.1% |
Personalized Tenant Support Services
JBG SMITH provides customized tenant support through dedicated account managers and specialized service teams.
- 24/7 tenant support hotline
- Personalized move-in assistance
- Customized space planning services
Digital Communication Platforms
The company utilizes advanced digital platforms for tenant interactions, with 98% of tenants using online management portals as of 2023.
Digital Platform Feature | Adoption Rate |
---|---|
Online Maintenance Requests | 95% |
Digital Lease Management | 92% |
Mobile App Usage | 78% |
Long-term Partnership Approach
JBG SMITH maintains an average tenant retention rate of 87% across its commercial and residential portfolio in 2023.
- Average lease duration: 5.2 years
- Renewal rate for corporate tenants: 82%
- Repeat residential tenant rate: 65%
Responsive Maintenance and Customer Service
The company maintains a 98.6% service response rate within 24 hours for maintenance requests across its property portfolio.
Maintenance Category | Average Response Time | Resolution Rate |
---|---|---|
Emergency Repairs | 2 hours | 99.9% |
Standard Maintenance | 24 hours | 98.5% |
Non-Critical Requests | 48 hours | 97.2% |
JBG SMITH Properties (JBGS) - Business Model: Channels
Direct Leasing Teams
JBG SMITH Properties maintains a dedicated in-house leasing team of 42 commercial real estate professionals as of Q4 2023. Total direct leasing staff covers approximately 17.3 million square feet of commercial and mixed-use properties in the Washington DC metropolitan area.
Leasing Team Metric | 2023 Data |
---|---|
Total Leasing Professionals | 42 |
Total Property Square Footage Managed | 17.3 million sq ft |
Average Lease Negotiation Time | 47 days |
Online Property Listing Platforms
JBG SMITH utilizes multiple digital platforms for property marketing and leasing, including CoStar, LoopNet, and proprietary digital channels.
- CoStar listing coverage: 100% of commercial portfolio
- Digital platform reach: Over 250,000 unique monthly property viewers
- Average online property inquiry response time: 4.2 hours
Real Estate Brokerage Networks
JBG SMITH collaborates with 87 commercial real estate brokerage firms across the Washington DC region. Broker commission rates range between 3-5% of total lease value.
Brokerage Network Metrics | 2023 Statistics |
---|---|
Total Partnered Brokerage Firms | 87 |
Broker Commission Range | 3-5% |
Annual Lease Transactions via Brokers | 124 |
Corporate Website and Digital Marketing
JBG SMITH's corporate website (jbgsmith.com) generates 42,500 monthly unique visitors with a digital marketing budget of $1.2 million in 2023.
- Website monthly unique visitors: 42,500
- Digital marketing annual budget: $1.2 million
- Social media followers across platforms: 15,600
Industry Conferences and Networking Events
JBG SMITH participates in 18 commercial real estate conferences annually, with an event marketing budget of $475,000 in 2023.
Conference Engagement Metrics | 2023 Data |
---|---|
Total Annual Conferences | 18 |
Event Marketing Budget | $475,000 |
Annual Networking Event Leads | 326 |
JBG SMITH Properties (JBGS) - Business Model: Customer Segments
Commercial Office Tenants
JBG SMITH Properties focuses on high-quality commercial office spaces in the Washington, DC metropolitan area. As of Q4 2023, the company managed approximately 5.4 million square feet of office space.
Office Tenant Type | Percentage of Portfolio | Average Lease Term |
---|---|---|
Government Agencies | 35% | 7.2 years |
Technology Companies | 25% | 5.5 years |
Professional Services | 22% | 6.3 years |
Healthcare | 18% | 6.8 years |
Residential Apartment Renters
JBG SMITH owns and operates residential properties with 3,600 total apartment units in the DC metro region.
- Average monthly rent: $2,850
- Occupancy rate: 94.5%
- Target demographic: Urban professionals aged 25-45
Real Estate Investors
The company's market capitalization as of January 2024 was $2.1 billion, with a diverse investor base.
Investor Type | Ownership Percentage |
---|---|
Institutional Investors | 68% |
Retail Investors | 22% |
Insider Ownership | 10% |
Urban Professionals and Businesses
JBG SMITH targets mixed-use developments in prime urban locations within the Washington, DC metropolitan area.
- Total mixed-use development portfolio: 2.3 million square feet
- Average property value: $450 per square foot
- Focus on transit-oriented developments
Institutional Investment Groups
The company attracts significant institutional investment through its strategic real estate portfolio.
Institutional Investor Type | Investment Amount |
---|---|
Pension Funds | $425 million |
Sovereign Wealth Funds | $250 million |
Endowment Funds | $175 million |
JBG SMITH Properties (JBGS) - Business Model: Cost Structure
Property Acquisition Expenses
In 2023, JBG SMITH Properties spent $179.3 million on property acquisitions. The company focused on strategic investments in the Washington, DC metropolitan area.
Property Acquisition Category | Total Expenditure ($M) |
---|---|
87.6 | |
62.5 | |
29.2 |
Development and Construction Costs
Total development and construction expenditures for 2023 were $214.5 million.
- Residential construction costs: $124.7 million
- Commercial development expenses: $89.8 million
Operational and Maintenance Overhead
Operational costs for 2023 totaled $92.4 million, including property management and maintenance expenses.
Operational Cost Category | Amount ($M) |
---|---|
Property Management | 42.6 |
Maintenance and Repairs | 35.8 |
Utilities | 14.0 |
Employee Compensation and Benefits
Total employee-related expenses for 2023 were $78.3 million.
- Base salaries: $52.6 million
- Performance bonuses: $12.4 million
- Benefits and insurance: $13.3 million
Marketing and Leasing Expenditures
Marketing and leasing costs for 2023 amounted to $23.7 million.
Marketing Expense Category | Amount ($M) |
---|---|
Digital Marketing | 8.2 |
Leasing Commissions | 11.5 |
Promotional Materials | 4.0 |
JBG SMITH Properties (JBGS) - Business Model: Revenue Streams
Commercial Property Rental Income
For the fiscal year 2023, JBG SMITH Properties reported total commercial rental revenue of $248.1 million. The portfolio consists of approximately 4.4 million square feet of operating commercial properties.
Property Type | Rental Revenue | Occupancy Rate |
---|---|---|
Office Properties | $187.5 million | 92.4% |
Retail Properties | $60.6 million | 88.7% |
Residential Lease Revenues
In 2023, residential lease revenues totaled $129.6 million from approximately 2,700 multi-family units across the Washington DC metropolitan area.
- Average monthly rent: $2,450 per unit
- Residential portfolio occupancy: 95.2%
Property Management Fees
Property management fees generated $15.3 million in 2023, representing third-party management services for external real estate assets.
Real Estate Asset Sales
For the fiscal year 2023, JBG SMITH completed real estate asset sales totaling $412.7 million, including:
Asset Type | Sales Volume | Number of Transactions |
---|---|---|
Commercial Properties | $287.5 million | 7 transactions |
Residential Properties | $125.2 million | 3 transactions |
Development Project Profits
Development project profits for 2023 reached $89.4 million from completed and ongoing mixed-use development projects in the Washington DC region.
- Total development pipeline: $1.2 billion
- Active development projects: 6 projects
- Estimated future development revenue: $345.6 million
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