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JBG to Develop Major Research Campus for National Cancer Institute
Date:2/24/2010

CHEVY CHASE, Md., Feb. 24 /PRNewswire-USNewswire/ -- The JBG Companies has been chosen by the General Services Administration to build and own a new facility to house the nation's premier center for cancer research, the National Cancer  Institute (NCI) in Montgomery County, Maryland.

"We are thrilled to be chosen to develop a research center of such size and importance," said Rod Lawrence, principal of The JBG Companies. "GSA's award reflects well on JBG's depth, flexibility and financial strength which are all-important in this difficult real estate environment."

The General Services Administration selected The JBG Companies to develop a 575,000 square foot, environmentally advanced complex which will house 2,100 employees. The NCI Shady Grove Campus will be located on an approved building site in Montgomery County's Life Sciences Center near Rockville.

JBG will develop the research campus on land owned by Johns Hopkins University on its Montgomery County Campus in the Life Sciences Center. The $200 million development will feature twin,  seven-story buildings with a shared entry. Retail shops will wrap around a parking garage. An array of environmentally friendly elements will support the JBG goal to obtain a LEED Gold certification.  A stop for a new mass transit system, the Corridor Cities Transitway, will be located there, and connect to the Shady Grove Metro station and other areas in the I-270 corridor.

"Locating the research infrastructure for the National Cancer Institute here is a significant building block for the Shady Grove Life Sciences Center,'" said Lawrence. "NCI's new Shady Grove Campus will set a standard that will attract public and private science initiatives focused on solving vital health challenges for decades to come."

JBG, which will develop and own the building, signed a ground lease with Johns Hopkins. HOK has been selected as the architect for the project. JBG said it plans to break ground on the nine-acre development later this year, and will complete the complex approximately two years later.

"The addition of NCI to our campus makes the Shady Grove area a national epicenter for cancer research," said Ronald J. Daniels, president of The Johns Hopkins University.  "We are excited to be a partner in providing a state-of-the- art home for this incredibly important scientific institution and its employees."

"GSA's decision to consolidate the NCI on the Montgomery County Campus of Johns Hopkins University comes at an optimum time for both the University and the County, as we have just entered into an MOU detailing our joint commitment to advance the biosciences industry, higher education and workforce development in Montgomery County," said Montgomery County Executive Isiah Leggett. "NCI's presence at JHU will bring over 2,000 high-paying, innovative jobs to the Shady Grove Life Sciences Center and will greatly compliment both the existing enclave of biotech and related advanced technology entities already located there as well as serve as a catalyst for the attraction and creation of thousands of new, high-quality jobs as the area transforms into a world- renowned innovation community with JHU and NCI at its core.  I congratulate JBG, JHU, GSA and NCI on this exciting news."

About The JBG Companies

Headquartered in Chevy Chase, Maryland, The JBG Companies is an active developer, owner and operator of office, residential, hotel and retail properties with more than $10 billion in assets under management and development. Founded in 1960, JBG has established a reputation as one of the leading real estate companies in the Washington metropolitan area.  More information can be found by visiting the company's website: www.JBG.com.

SOURCE The JBG Companies

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