ALEXANDRIA, VA – Owner and developer, JBG Smith has acquired seven blocks of Citizens Broadband Radio Service spectrum spanning across Arlington County and the city of Alexandria. The owner and developer purchased the licenses through a national FCC auction, which concluded in late August.
The investment is part of a broader initiative to establish National Landing as an innovative district and one of the nation’s first 5G cities. The acquisition of spectrum furthers JBG Smith’s ability to partner with leading service providers to offer 5G and other technology infrastructure within the district.
A subsidiary of JBG Smith, SEAD LLC, purchased the seven licenses, which span more than 16.2 million square feet, for $25.3 million.
The technology infrastructure will allow enterprises to connect everything and everyone in real time; transforming customer engagement and experiences in the area.
Through the acquisition, JBG Smith aims to utilize the area as a space for innovation in industries, such as defense and cybersecurity, cloud/edge computing, internet of things and artificial intelligence.
JBG Smith’s acquisition comprises four Priority Access Licenses in Arlington, VA, totaling 40 MHz, the maximum allowed in one jurisdiction for a single entity, and three Priority Access Licenses, totaling 30 MHz in Alexandria, VA.
“JBG SMITH recognized that the FCC’s CBRS spectrum auction was an opportunity to align National Landing with the needs of cutting-edge tenants, while significantly enhancing our broader smart city and digital placemaking plans throughout the neighborhood,” states Evan Regan-Levine, EVP Strategic Innovation and Research. “Our investment in next-generation connectivity infrastructure will further cement National Landing as a premier global destination for entrepreneurs, universities, and global technology companies to ideate, innovate, and scale globally.”
Matt Kelly, JBG Smith CEO, states, “We pursued ownership in spectrum to accelerate the roll-out of a ubiquitous 5G network in National Landing. We are eager to attract best-in-class service providers, so that our customers – the people that live, work, and play in National Landing – have the connectivity tools needed to innovate in an increasingly digital and flexible post-COVID economy.”