JBG Smith Properties (NYSE: JBGS) has paid $25.3 million for licenses to use small parts of a new class of wireless spectrum to set up a 5G internet network in National Landing, home to Amazon.com Inc.’s second headquarters and Virginia Tech’s innovation campus.
“We pursued ownership in spectrum to accelerate the roll-out of a ubiquitous 5G network in National Landing,” JBG Smith CEO Matt Kelly said in a press release. “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.”
National Landing is the branded amalgam of Crystal City and Pentagon City in Arlington and portions of Potomac Yard in Arlington and Alexandria. It was pitched as part of the Amazon (NASDAQ: AMZN) HQ2 bid to unite the areas that would be most impacted by the company’s arrival. JBG Smith is the dominant landlord…Read the full story from the Washington Business Journal.