Local firms have welcomed $3.8 billion in venture capital funding over the past 12 month-period ending in June, according to data compiled by real estate firm CBRE. That’s $1.8 billion more than the previous 12-months period.
“You’ve got this relatively stagnant economy, but you’ve got this flood of venture capital with the AI boom that’s actually adding some dynamism through the region,” [CBRE Senior Director of Reserach, Ian] Anderson said. “I think that is this underlying, and perhaps not as recognized, source of growth in the local economy, and perhaps jobs.”
The Santa Clara, California-based firm, the world’s most valuable company with a market cap just shy of $5 trillion, took 27,600 square feet at Douglas Development Corp.’s Woodies Building at 1025 F St. NW in the second quarter, according to a market report from brokerage Cushman & Wakefield and another person familiar with the deal.
Nvidia has been in the market for nearly a year with a keen interest in proximity to federal leaders. It last fall narrowed its search down to just a few options.
The chipmaker will join streaming giant Netflix Inc. at Woodies after the firm in May finalized a deal to take nearly 19,000 square feet across the first and second floors for an office and entertainment hub, which will host private screenings, receptions and premieres. ChatGPT maker OpenAI Inc., meanwhile, opened an office at 901 F St. NW in May that’s light on desks, but heavy on amenities for visiting policymakers and other guests. And Anthropic, maker of Claude, is building out an office at 601 13th St. NW.
The convention, last held in Florida in 2023, is projected to generate an estimated $11.9 million in visitor spending and fill 16,417 hotel room nights — in addition to those staying with friends or family in the area, per Destination D.C., the city’s official tourism marketing arm.
The convention is one of a trio of citywide events expected to have a significant impact on the District’s hospitality market this month. The two others are the Family, Career and Community Leaders of America’s National Leadership Conference, happening this week, and Otakon, the annual gathering of Asian pop culture fans, to be held from July 31-Aug. 2. Those two events are expected to generate a combined 39,905 room nights and visitor spending of $26.4 million, according to Destination D.C.
Franchisee Dondre Simmons is eyeing retail space of between 1,500 and 2,000 square feet in Northwest D.C. and seeking to secure a 5-year lease, according to an email from Blake-Dickson Commercial Real Estate, the firm representing Simmons.
The upshot is that sales of nonalcoholic beer, wine and mocktails are growing by double digits. For the 12-month period through August 2025, sales of such beverages climbed 22% from the prior 12 months, to $925 million, according to estimates from market research firm NielsenIQ.
Point 5 also aims to capitalize on the growing acceptance of THC-infused beverages. For the 12-month period that ended April 30, sales of THC-infused beverages hit $239 million, an increase of 135% from the prior 12-month period, according to data from NielsenIQ.
Staff of the National Capital Planning Commission, whose members voted Thursday to approve preliminary site plans, now say the arch remains subject to the Height Act, but that it could still tower at 250 feet with some suggested design tweaks. The Trump administration, meanwhile, continues to argue the federal government isn’t subject to the Height Act in the first place.
In a report issued ahead of Thursday’s meeting, NCPC staff warned that such a determination “could fundamentally reshape the city’s architectural fabric, the balance of local vs. federal authority, and the visual character of the nation’s capital.”