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JBG SMITH Unveils Revolutionary Dining in the Park Experience Coming to National Landing
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JBG SMITH (NYSE: JBGS) announces the launch of Surreal, a new dining venue at Dining in the Park in National Landing. Developed in collaboration with Seven Restaurant Group, known for acclaimed establishments like Seven Reasons, Surreal will offer indoor/outdoor dining and unique culinary experiences. The project is expected to begin construction in early 2022 and open in 2023, enhancing National Landing as a culinary destination with one acre of green space for diverse community activities.
Positive
Anticipated construction of Dining in the Park to enhance National Landing as a dining destination.
Partnership with Seven Restaurant Group brings credibility and expertise.
Negative
Construction start and completion dates are not guaranteed, subject to numerous risks.
Dependency on economic conditions in the Washington, DC area may impact success.
Leading DC developer teams up with renowned Seven Reasons Chef Enrique Limardo to open Surreal
BETHESDA, Md.--(BUSINESS WIRE)--
JBG SMITH (NYSE: JBGS), a leading owner and developer of high-quality, mixed-use properties in the Washington, DC market, today unveiled Dining in the Park, a first-of-a-kind dining experience coming to National Landing, anchored by a new restaurant called Surreal. Conceptualized by Seven Restaurant Group – the renowned team behind DC’s critically acclaimed restaurants Seven Reasons and Imperfecto – Surreal will be a seamless indoor/outdoor culinary destination located in the newly transformed National Landing submarket just outside the nation's capital.
Illustrated concept design for Dining in the Park in National Landing. (Graphic: Business Wire)
Surreal at Dining in the Park, to be located at the existing park in front of 2121 Crystal Drive, further reinforces National Landing as a destination for groundbreaking and innovative experiences that blend the best of both city living and the urban outdoors. Surreal’s forward-looking design will be unlike any other in the region with unique hybrid spaces that can adapt to every season, making it an ideal addition to the neighborhood.
“We are thrilled to partner once again with the incredibly talented Seven Restaurant Group for Surreal after a successful launch of Imperfecto in the West End,” said Kai Reynolds, Chief Development Officer for JBG SMITH. “Surreal is truly a perfect fit for our Dining in the Park vision and the broader National Landing neighborhood. Their flavors and culinary philosophy integrated with nature will bring an approachable, yet diversified and sophisticated dining experience for any time of day.”
Anchored by a lush park and surrounded by mature trees, Dining in the Park will feature one acre of green space intended to accommodate a variety of uses customized by Seven Restaurant Group, such as herb gardens or outdoor markets. Through a new commercial lifestyle designation, patrons will be able to “sip and stroll” throughout the park – a first-of-its kind offering in the DC metro area.
With Surreal, the powerhouse Seven Restaurant Group aims to strengthen the relationship between humans and nature throughout the setting. The restaurant will offer indoor and outdoor seating year-round and will present Breakfast, Lunch and Dinner menus that combine unique, yet comforting flavors. In addition to the main restaurant, Surreal plans to take advantage of the surrounding open area with food carts selling gourmet street food, coffee, ice cream, beer, wine and more.
Seven Restaurant Group consists of Managing Partner Ezequiel Vázquez-Ger, award-winning Chef Enrique Limardo, Creative Director Valentina Story and Chief Business Development Officer Alex Alevras.
“Dining in the Park is an exciting addition to an already groundbreaking neighborhood, and I’m excited to bring a unique culinary venue to National Landing,” said Chef Enrique. “Surreal’s dining atmosphere aims to excite the existing community and visitors alike to engage and interact with each other. This is a chance for people to slow down and enjoy a one-of-kind immersive, dining experience.”
Construction for Dining in the Park is expected to begin early 2022 and Surreal is anticipated to open in 2023. For more information about JBG SMITH, National Landing and Dining in the Park, please visit nl.jbgsmith.com.
About JBG SMITH
JBG SMITH owns, operates, invests in and develops a dynamic portfolio of mixed-use properties in the high growth and high barrier-to-entry submarkets in and around Washington, DC. Through an intense focus on placemaking, JBG SMITH cultivates vibrant, amenity-rich, walkable neighborhoods throughout the Washington, DC metropolitan area. Over half of JBG SMITH’s holdings are in the National Landing submarket in Northern Virginia, where it serves as the exclusive developer for Amazon’s new headquarters, and where Virginia Tech’s planned new $1 billion Innovation Campus is located. JBG SMITH's portfolio currently comprises 17.2 million square feet of high-growth office, multifamily and retail assets at share, 98% of which are Metro-served. It also maintains a development pipeline encompassing 17.0 million square feet of mixed-use development opportunities. JBG SMITH is committed to the operation and development of green, smart, and healthy buildings and plans to maintain carbon neutral operations annually. For more information on JBG SMITH please visit www.jbgsmith.com.
Forward-Looking Statements
Certain statements contained herein may constitute "forward-looking statements" as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are not guarantees of performance. They represent our intentions, plans, expectations, and beliefs and are subject to numerous assumptions, risks and uncertainties. Consequently, the future results of JBG SMITH Properties ("JBG SMITH") may differ materially from those expressed in these forward-looking statements. You can find many of these statements by looking for words such as "approximate", "believes," "expects," "anticipates," "intends," "plans," "proposed," "would," "should," "may," or similar expressions in this press release. We also note the following forward-looking statements: construction start and completion dates as well as any design or service expectations. Many of the factors that will determine the outcome of these and our other forward-looking statements and plans are beyond our ability to control or predict. These factors include, among others: adverse economic conditions in the Washington, DC metropolitan area, the timing of and costs associated with development and property improvements, financing commitments, and general competitive factors. For further discussion of factors that could materially affect the outcome of our forward-looking statements and other risks and uncertainties, see "Risk Factors" and the Cautionary Statement Concerning Forward-Looking Statements in the Company's Annual Report on Form 10-K for the year ended December 31, 2020 and other periodic reports the Company files with the Securities and Exchange Commission. For these statements, we claim the protection of the safe harbor for forward looking statements contained in the Private Securities Litigation Reform Act of 1995. You are cautioned not to place undue reliance on our forward-looking statements. All subsequent written and oral forward-looking statements attributable to us or any person acting on our behalf are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. We do not undertake any obligation to release publicly any revisions to our forward-looking statements after the date hereof.
What is the significance of the new restaurant Surreal opened by JBG SMITH?
Surreal is expected to enhance the National Landing area as a unique dining destination, featuring innovative indoor and outdoor culinary experiences.
When will Surreal at Dining in the Park open?
The opening of Surreal is anticipated in 2023, following the expected construction start in early 2022.
What is the role of Seven Restaurant Group in the development of Surreal?
Seven Restaurant Group is partnering with JBG SMITH to develop Surreal, leveraging their expertise from successful restaurants like Seven Reasons.
How will Dining in the Park affect the National Landing community?
Dining in the Park aims to create a vibrant community space with diverse activities, including food carts and green areas, fostering engagement among visitors.
What are the risks associated with the construction of Dining in the Park?
Construction timelines and success are subject to economic conditions and other uncontrollable factors in the Washington, DC area.
