JBG SMITH Sells Majority Stake in Ballston Office Tower

JBG SMITH⁠ has sold a majority stake in a Ballston office tower it developed more than a decade ago. The Bethesda-based real estate investment trust sold a 90% interest in the 306,200-square-foot office tower at 800 N. Glebe Road in Arlington, the company announced in its third-quarter earnings report. The tower is valued at $79 million, according to the Washington Business Journal. JBG Smith will continue to manage and lease the property.