In a move that bridges entertainment, tech and downtown DC real estate, Netflix is looking to take space at the landmark Woodies Building.
The space at the southwest corner of 1025 F Street NW (map) will be tailored to the company’s unique operations and brand: a blend of conventional office space and more public-facing assets such as screening rooms, reception/event zones and interactive frontages.
Cross-border investments in the U.S. office sector last quarter increased sixfold year-over-year to $877M, according CBRE.
“January of last year, people were office-averse,” CBRE Capital Markets Chairman William Shanahan said. “By third or fourth quarter last year, people were office-curious. This year they’re office-serious.”
He added that other major metros like Boston, Dallas and Washington, D.C., are up next. “Washington is coming around quickly,” Shanahan said. “You’re going to start seeing new office construction in D.C. in the next 12 to 24 months.”
Tech and defense tech companies signed over 700,000 square feet of office space in D.C. alone last year, representing 7% of all leasing activity and a figure that’s more than double the volume in 2023 and is 30% higher than 2022, according to JLL data. Year to date, these companies — including OpenAI, SpaceX and CoreWeave — have signed new leases or expansions equal to 8% of the total leasing volume in D.C. Others, including Nvidia, are pending.
Of the 34 deals in the sector this year in D.C., 18 have been for office space exceeding 10,000 square feet, a signal these moves aren’t just for government affairs and public policy staffers but also technologists.
… the annual conference surpassed 9,000 registrants — growing 20% over last year — who attended some 230 keynotes, panel discussions, networking events and happy hours throughout D.C. and Arlington last week.
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U.S. Black Chambers, a nonprofit that supports Black-owned businesses, has purchased the former Black Entertainment Television headquarters in Northeast D.C. with plans to build out its own headquarters and innovation campus.
USBC announced the acquisition in a press release this week, and it has a page on its website detailing its plans for the property. It said the campus would offer entrepreneurial training and development, startup support, flexible office space, media and content creation spaces, and include a full-service restaurant and cigar lounge.
Sublime Security Inc., a D.C. startup providing email security tools for music streaming platform Spotify and cloud service providers Snowflake and Zscaler, has raised $150 million in new funding as threats from AI-generated phishing scams mount.