WASHINGTON, DC-Leasing appears to be ramping up in the District,based on a handful of deals that have closed. Some of the deals aretypically DC--including one by the World Bank. Onenew tenant, though, could be characterized as atypical, but basedon the direction the city is headed, that description could one daybe outdated.
That tenant was secured by Douglas Development,which has inked two leases with the New York-based entrepreneurialhub, WeWork. WeWork will occupy 32,903 square feetin the Wonder Bread Factory, located at 641 South Street, NW; and21,350 square feet at 718 7th Street, NW in Chinatown.Jones Lang LaSalle's Jay Farmer, Steve Burman, GregMcCavera and Sean Black representedWeWork. Evan Behr and DougMueller of Jones Lang LaSalle represented DouglasDevelopment.
WeWork offers custom-designed workspaces in which startups,small businesses and creative professionals can interact andcollaborate. It is, in other words, the type of tenant DC hopes tosee expand as it pushes to develop its tech base.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
