Where Tech Fits Into DC’s Economic Development Conversation

Tech firms leased more office space in D.C. over a recent 12-month period than the prior year, while coworking spaces signed on for fewer square feet.

Those trends come according to the latest DC Development Report, which was released by the Washington D.C. Economic Partnership at the organization’s annual meeting on Tuesday. WDCEP partners with commercial real estate services firm CBRE on the report, and the results come from a “development census” taken in August.

Tech firms signing new leases over the 12 months ending in August 2017 accounted for more than twice as much as much space as in 2016. According to the report, tech firms accounted for 374,000 sq. ft. of leasing activity in the last 12 months. The previous year’s total leased space for tech companies was 180,000 sq. ft.

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