Davor Kapelina, the entrepreneur behind several D.C.-area energy and technology companies, has secured $39.1 million for his next act.
CXI Holdings Inc., located in Golden Triangle, raised the money from five undisclosed investors, according to a recent Securities and Exchange Commission filing. It is targeting a $41 million raise in total.
The New York City-based firm will relocate later this year from 1899 Pennsylvania Ave. NW to 16,000 square feet across a full floor at Hines’ 1050 17th St. NW. The move will support the growth of its mid-Atlantic office …
“We were deliberate in selecting a space that reflects our long-term commitment to the D.C. market and aligns us with high-quality institutional ownership,” Allison DiGiovanni, executive vice president and market leader of Newmark’s mid-Atlantic region, said in a statement. “This move positions us within one of Washington, D.C.’s premier office environments.”
OpenAI’s presence — and the design of its office — also reflects a possible broader shift underway in downtown D.C., where Silicon Valley firms are carving out more visible, public-facing footprints.
Streaming giant Netflix is preparing an office and entertainment destination a block away at the Woodies Building, with roughly 14,000 square feet set aside for offices and a theater that will host private screenings, receptions and premieres. AI chipmaking giant Nvidia Corp. is planning a more than 33,000-square-foot D.C. office that could also include some form of public-facing space given that lobbying shops alone are rarely in need of such room.
Google is moving to lease the entire 231,000-square-foot office building at 500 N. Capitol St. NW near Union Station …
The tech giant has been building up its D.C. presence over the past several years. It subleased 130,000 square feet at 655 New York Ave. NW in 2022, but it’s not clear whether the firm still occupies the space. It also maintains about 100,000 square feet 25 Massachusetts Ave. NW that houses legal, government affairs and engineering teams. CoStar reported in recent weeks that Google is looking to vacate its Massachusetts Avenue office by the end of this year.
Commercial space across Greater Washington continues to fill up as companies move beyond remote work.
That’s according to Ian Anderson, senior director of research at the real estate firm CBRE, who said that occupancy of office, retail and industrial space in the region has now increased for three consecutive quarters — between July 2025 and the quarter than ended March 31 — for a total of 3 million square feet.
“That’s a big turnaround” from between January 2024 and June 2025 when the amount of space in the region declined 2.1 million square feet, Anderson said.
“Washington, D.C. is the perfect market for where this brand is headed,” said Founder & CEO Derrick Hayes. “It’s culturally diverse, highly influential, and filled with consumers who connect with authentic concepts. Shawna has brought a new level of execution and strategic focus to our growth efforts, and we’re seeing that momentum translate into real expansion opportunities.”