Quantcast
Channel: real estate – Technical.ly DC
Viewing all 67 articles
Browse latest View live

TransitScreen nets another big real estate partnership

0
0

TransitScreen and real estate management firm Bozzuto Management Company announced last week that the two have formed a new partnership. The partnership will see TransitScreen’s real-time commute information boards deployed in the lobbies of “select” Bozzuto buildings in New York, New Jersey, Boston and D.C.

“More of our residents have become car-free or car-light and are using public transportation and we aim to support their decision,” Khushbu Sikaria, vice president of advisory services at Bozzuto, said in a statement. “As a service to them, we wanted an innovative, forward-thinking, interactive platform that instantly delivers the information they need.”

The screens in Bozzuto buildings will display local transit information (as is TransitScreen’s forte) as well as a new “Community Messaging” feature so Bozzuto staff can post important news and information for residents.

The Bozzuto partnership is just the latest for 1776-based TransitScreen. The company announced a national partnership with JLL in February, and has also landed deals with TouchTunesMakeOffices, Discovery Communications and the National Institutes of Health.

“Bozzuto was one of our first customers, and we are excited to formalize a partnership on a much broader scale,” Ryan Croft, TransitScreen cofounder and COO, said in a statement. “We have a very similar vision about designing communities around daily life. We are excited to partner with an innovative industry leader like Bozzuto.”

Bozzuto (according to the company) manages over 60,000 apartments, so the potential for growth in this partnership is significant.


Need an office for your startup? This real estate developer is building a concept that’s not WeWork

0
0

One of the challenges of starting a company (especially a high-growth company) is finding office space. Flexibility (of lease term, of size of space) is a key requirement for many startups, and not something the commercial real estate industry (where long leases are the norm) is particularly adept at.

Enter WeWork. The coworking company takes on long-term commercial leases, outfits the space, then rents a negotiable and flexible number of desks out to startups for a flexible and negotiable amount of time, and has risen to the height of an approximately $20 billion valuation by doing so.

But let’s say you’re too big for WeWork (WeWork will argue this is not the case, but let’s leave that to the side for now) but still a little too small (or volatile, in the best possible way, of course) for the big bad world of traditional commercial real estate. What do you do?

Gould Property Company, a real estate owner and investor in the DMV area, is building out one possible answer. It’s called (in its first iteration anyway) 1725 DeSales Tech Suites. The suites, located at 1725 DeSales St. just south of Dupont, are small-ish (designed for 15-20-employee companies and amenable to relatively short lease terms. They also strive to be “cool” in the same way a WeWork or a 1776 are “cool” spaces — albeit with a more personalized twist.

The company hires designers to emulate the trendy coworking space style, Gould’s Charles Lancaster told Technical.ly. When a company moves into a suite at 1725 they are given a brand consultant to help outfit the space in a way that is cohesive to the company. For the midsize startup, Lancaster hopes, the ability to develop a visual and spacial brand (which is not really an option at coworking spaces) will be attractive.

The “ideal” lease term, Lancaster told Technical.ly, is five years. He hinted, however, that this isn’t set in stone.

Of course 1725 DeSales isn’t just for tech companies. RealClearPolitics is a current client, for example. But Lancaster sees the model as a useful addition to a growing tech landscape like D.C.

The interesting thing about 1725 DeSales, from our perspective, is the vision of the future of the workplace that it lays out. WeWork has argued in the past that coworking is the future of the workplace, and maybe there’s something to this. But in the 1725 DeSales Tech Suites we see another option (or element?) — real estate developers learning from the coworking movement, adopting some of the popular elements (flexibility, design, etc.) and putting their own spin on it.

Maybe that’s what the future will look like?

Don’t sleep on the importance of big tech brand policy offices for DC

0
0
Since the enthusiasm about landing the Amazon HQ2 is very much about the high-impact tech jobs, it’s easy to side step that the District has always out-paced most other cities in playing host to big tech brands.

That story has mostly been tied to the transition of corporate tech into traditional lobbying outfits — something largely expanded amid this administration’s unpredictability. Look to Apple‘s leadership here or the government affairs layoffs at Microsoft in recent years. So, though real estate analysts swoon over Facebook doubling its Terrell Place footprint and Twitter has marketed its local office, local tech leaders don’t always quite know if the impressive checklist of household tech company offices really means much to growing a tech scene here.

“Those offices just are not engaged in the innovation community,” said Ryan Ross, the bearded program director of the Halcyon Incubator, which focuses on social good companies. A check with other local tech founders recently netted similar responses.

But there are glimmers of impact, like when Google launched a engineering diversity pilot with Howard University and hosted recruiting events here. Locally, news of the 500-person Yelp office caused cheers, because even its sales and marketing focus went beyond the one-industry-town feel of other lobbying-focused offices. Even the Amazon Web Services corporate office in Virginia’s Fairfax County seemed compelling.

But lately this reporter has taken to asking local tech leaders if only limited engagement with big tech brands is a missed opportunity. Most connected founders and tech scene advocates say there might be someone at one or two of the local offices whom they can call, but there was limited sense of their existence here being anything more than interesting for real estate and policy wonks.

But Ross said something at a Gensler-hosted panel event during DC Startup Week that stuck out:

“If they’re not here in the first place, you can’t engage at all,” said Ross. “The value of D.C. is that everyone is here.”

MakeOffices will plant a new flag at the Wharf

0
0

Coworking company MakeOffices plans on opening its next location at D.C.’s newest big development, the Wharf.

The new flagship location will open at 800 Maine Street, SW in January 2018, with a soft opening planned for this December. The new location will comprise the second and third floors of the building with 43,880 square feet of office space, and will be the McLean, Va.–based company’s eighth location in the District.

The Wharf is a mixed-use development from PN Hoffman and Madison Marquette, both longtime D.C. developers. The first phase of the development is complete, and grand opening ceremonies have already celebrated its arrival on October 12.

“Our intention is to be considered another resource and amenity for Hoffman-Madison Waterfront’s dream project, providing the condo and apartment residents and other office tenants great office, meeting, touchdown and event space options,” said MakeOffices CEO Zach Wade, who has been at the helm of the company since May.

The office space was designed by Gensler, a global architecture firm, and features a water view of the District Pier. The capacity will offer 99 total offices, with the ability to accommodate up to 18 people, in addition to the 48 dedicated “bullpen” desks.

“We’re planting a flag at the Wharf with our newest location,” said Reid Fetters, Chief Real Estate Development Officer of MakeOffices. “Our goal is for the MakeOffices community to unite with the excitement and newness of the bustling waterfront community. This begins with partnering with the new businesses—bookstores, yoga studios, restaurateurs, mixologists—and working together…coworking if you will…to lay a foundation that lasts beyond the development’s construction.”

“We want PN Hoffman and all the office tenants, residents and retailers to be able to lean on MakeOffices when they need solutions for office space, conferencing, or even just a place to pop into before an event at the Anthem,” said Fetters.

A rendering of MakeOffices at The Wharf. (Courtesy photo)

A rendering of MakeOffices at The Wharf. (Courtesy photo)

After phase two of the more than $2 billion Wharf development is fully built-out, there will be 14 entire buildings with 10 acres of public space and parks on the water.

To integrate the immense Wharf community into the region, planners used a transit-oriented development approach. There’s a water taxi route which connects to Georgetown, Old Town Alexandria and National Harbor—plus a neighborhood shuttle, extended bus lines and four new Capital Bikeshare stations. 

MakeOffices, which was founded in 2012 in Arlington, Va., is pre-selling the spaces now and has a projected commitment of 50 percent occupancy by the opening. Coworking members get access to the seven other D.C.–area locations, and its Philadelphia and Chicago spaces.

Rockville-based Homesnap raises $14 million Series B

0
0

Rockville, Md.–based Homesnap, which makes an app lets you find about the real estate info of a property after snapping a photo, just closed a $14 million Series B. The company, which was founded in 2008, reported a record year of growth.

The funding round was led by Updata Partners, Moderne Ventures and individual investors. The company has raised $32 million, and other investorsinclude D.C.–based Revolution. The funds will pay for tech improvements to help real estate agents in the field and automated digital marketing.

“Our goal is for every agent – and their clients – to use Homesnap every day to do their jobs better, and this funding will make that goal a reality,” said Homesnap CEO John Mazur in a statement.

The company states that 71 percent of real estate agents now have access to the professional version of the app. Homesnap is also home to the national home search platform Broker Public Portal, and 125 market listing services representing over 800,000 real estate agents reportedly share listings with the site. 

“Homesnap pioneered mobile solutions for agents, and Updata is excited to support its continued expansion,” said Carter Griffin, General Partner at Updata, in a statement. “Demand for verticalized software solutions continues to increase and Homesnap equips agents with the most effective solution in real estate we have seen to date.”

 

Industrious is opening a new coworking space in DC this month

0
0

Industrious is opening a new coworking space in D.C. later this month.

The 21,000 sq. ft. space will take up the entire seventh floor of a building at One Thomas Circle NW in downtown DC, according to Industrious Head of Communications Kym Lino. Along with coworking, the space will have more than 70 offices ranging in size.

In addition to amenities such as 24/7 access, utilities and meeting space, Industrious works with local businesses to source food for provided food and drink. In D.C., the company is working with Compass Coffee, Bethesda Bagel and Atlas Brewery. 

The expansion comes after the company announced a new funding round of $80 million. According to our sister site Technical.ly Brooklyn, the company is in 25 cities already, most of which are outside those considered the major tech hubs. With the new funding, the company is looking to double its number of spaces in 2018. Members get access to the entire Industrious network.

It comes as other New York–based companies are joining in The District’s exploding coworking market. The Wing, an all-women coworking space that started in Manhattan, is expanding to D.C. Late last year, The Yard opened a new space in Eastern Market.

MakeOffices brings coworking to Glover Park

0
0

MakeOffices is continuing to expand in the D.C. area. The coworking company opened its ninth location in Glover Park, a northwest D.C. neighborhood which is home to American University and the U.S. Naval Observatory.

The MakeOffices at Glover Park location has 30,000 square-feet of coworking space with 57 private offices and 40 dedicated desks. This expansion will be MakeOffices’ fourteenth location overall, as the company also has a presence in both Philadelphia and Chicago.

The coworking company has been on the move lately, opening its flagship location at The Wharf in February and it is now looking at renovating the Dupont Circle location to bring the space up to new standards.

It also comes as players like Industrious, The Yard and Spaces are expanding in the D.C. area

For MakeOffices, the new location is “a true diversification of our growing portfolio,” said MakeOffices CEO Zach Wade in a statement about the new location at 2201 Wisconsin Avenue NW.

“It is the most residentially-located MakeOffices space to-date, yet it strategically serves as a creative hub for aspiring entrepreneurs and startups coming out of nearby Georgetown and American University,” Wade continues.

MakeOffices’ other eight office locations are in high density areas like Tysons Corner or K Street. The company sees bringing the concept to the Glover Park neighborhood as a way to lure people from their home offices and a way to break into the “surban” market—or rather, a suburban area is highly walkable and offers access to retail shops alongside its housing.

MakeOffices teamed up with Gensler to design the interior space, as it did for the location at The Wharf. The Glover Park space also has four conference rooms, four team rooms, five AV booths, and a designated recording room. The location also features two wellness rooms and a relaxation room, with two massage chairs it acquired from local startup Restin.

The Glover Park location has onsite parking, and through its “passport program,” members can use any of the other eight locations in the region.

WeWork is planning to open another space in Chinatown

0
0

WeWork’s latest expansion in D.C. will give the coworking giant a second location in one neighborhood.

The company recently signed a lease to take the top three floors of 777 Sixth St. NW in Chinatown, according to a release from Transwestern, a real estate firm which represented landlord Bentall Kennedy. The announcement indicates that’s enough room for 900 desks. An opening date hasn’t yet been set.

WeWork’s initial location in the District is around the corner at 718 Seventh St. NW. The new location will be its 11th in the D.C. area. As of last year, D.C. was the company’s second-largest market outside of its hometown of New York.

“WeWork has been successful at their nearby 718 Seventh St. location, and adding another Chinatown location at 777 Sixth St. was a logical choice,” said Zach Boroson, Vice President of JLL, which represented WeWork.

The new space comes after WeWork announced that its D.C. space near the White House would be the first location outside of New York for Flatiron School, a coding academy it acquired last year. News also came last week that Georgetown University is set to open a dedicated space for students within that facility.


Funding news about Cortex Building Intelligence

0
0

According to documents filed with the SEC, Cortex Building Intelligence, Inc. — based in Washington, D.C. — launched a new round of equity financing on April 6.

The company intends to raise as much as $4,000,000 and reports having raised $1,653,943 thus far. The documents were filed with the SEC on April 9.

View the filing

Related: Jobs at Cortex

MakeOffices plans 10th DC-area coworking space in Foggy Bottom

0
0

MakeOffices‘ recent D.C.-area expansion will continue into 2019. The McLean, Va.–based coworking company is planning a new location in Foggy Bottom.

According to the company, the 40,000 sq. ft. space will be located on the seventh floor of 2000 Pennsylvania Ave. It will have 90 offices, as well as 50 open desks. The location is expected to open in mid-2019, with construction starting early next year.

The coworking space is part of a larger project to revitalize the building, which also includes retail and restaurant offerings dubbed “The Shops at 2000 Penn.” George Washington University selected MakeOffices owner MRP Realty and Westbrook Partners and completed a long-term lease deal last month, the Washington Business Journal reported.

MakeOffices CEO Zach Wade said the location will provide opportunities to tap into bigger businesses and organizations located nearby. Being located near George Washington University, which sets up the potential for a “university-to-coworking pipeline to help fuel current and future entrepreneurs.”

“We’re thrilled to serve the corporate, professional services, non-profit, legal, media and creative companies, as well as those who do business with the nearby IMF and World Bank, all of whom covet this location with its unparalleled access to D.C. and the surrounding markets,” Wade said in a statement.

Like plenty of other coworking companies across D.C., MakeOffices has been expanding over the last year, opening spaces in Glover Park and at The Wharf, as well as adding another in Logan Circle. The company also has locations in Philadelphia and Chicago.

Camber Creek closes $30 million fund to invest in more real estate startups

0
0

Camber Creek, a venture capital firm focusing on real estate tech, announced the closing of a $30 million fund last week.

It’s the second fund for the firm, which has a D.C.–area presence through an office in Rockville, Md.

Camber Creek looks to back startups bringing new solutions to the real estate industry. Many of the investors in the fund are real estate companies themselves. As a result, the investing companies often use technology being developed by the companies the firm supports, according to Camber Creek. The VC firm also draws on their expertise during due diligence.

“We’ve created an unprecedented investor network,” Camber Creek Managing Partner Casey Berman said in a statement. “We are able to cut through the red tape to make technology accessible quickly and help investors maximize their real estate businesses.”

The firm has backed local startups including Reston, Va.–based GoCanvas and D.C.–based Fundrise.

On the same day (June 7) as it announced the close of the new fund, Camber Creek also made news by leading a $3.9 million seed round for pop-up hotel startup WhyHotel. The startup operates temporary hotels within new apartment complexes as the buildings move through the initial lease-up phase. The company’s first run came at The Bartlett in Arlington, Va., and it’s now expanding to a building in downtown Baltimore.

This NoVa startup has a platform to find commercial real estate loans

0
0

A Northern Virginia startup that developed a platform to help commercial real estate developers find loans is looking to more than double the size of its team as it ramps up marketing efforts.

Tysons-based RealAtom offers a marketplace where anyone looking to acquire, refinance or build a commercial building can find loans through banks or other lenders, said CEO Yulia Yaani. The size of the loans can range from $500,000 to $75 million.

To narrow down the potential loans, the platform uses an algorithm to identify which loans match the criteria. Then, the borrowers can get multiple offers from lenders, and pick which one to accept. This is a shift from the current process that involves contacting lots of different lenders independently, and weighing options.

“Our goal is basically to use data and machine learning to make this match as precise as possible,” Yaani said, adding that it also speeds up the process.

Yaani and cofounder Masha Sharma, both of whom previously founded two startups each, initially got connected at 1776. Yaani was looking to pivot from a crowdfunding model, and found a good fit with Sharma, who is the company’s CTO.

Launched 18 months ago, the platform has built up a network of about 2,500 banks and alternative lenders, and has processed nearly 1,000 loan requests so far, Yaani said. RealAtom makes money from fees associated with the transactions.

RealAtom cofounders Yulia Yaani and Masha Sharma. (Courtesy photo)

RealAtom cofounders Yulia Yaani and Masha Sharma. (Courtesy photo)

The company is looking to grow its current team of 15. It recently closed on $3.7 million in seed funding with an option to accept another $500,0000.

For the company, the immediate focus will be on quickly building up its marketing team to stand out from other startups in the space.

“We want to build one of the most robust marketing organizations in the industry,” she said.

Yaani said startups have explored the idea of connection commercial real estate borrowers and lenders before, dating back to the late 1990s. However, there have been tech advances since then, and Yaani believes the generational shift toward comfort with two-sided marketplaces will translate to this type of lending. Additionally, she said, the approach brings more openness about what’s available.

“We think that transparency and technology that brings transparency is what’s going to change the game,” Yaani said.

New H Street NE coworking space will be for ‘mature’ millennials

0
0

H Street NE suddenly has a glut of coworking options.

The area already offers Locale Workspace, WeWork Apollo and Flex Office Space. By the second quarter of 2019, it will offer a new shared-office experience, this time from Bond Collective.

Originally known as Cowork|rs, Bond Collective is a New York-based coworking company that offers five locations in New York and a forthcoming spot in Philadelphia. Bond Collective will open its first location in the nation’s capital at 609 H St. NE with a hospitality-focused brand that hopes to differentiate itself from the others by modeling its space more as a boutique hotel than a den of standing desks.

“We feel that a lot of the spaces market towards the startup community, and we really want to be marketing to all communities and all businesses,” Bond Collective CEO and cofounder Shlomo Silber told Technical.ly. Silber also says he hopes for the location to appeal to “the more mature millennial,” someone that appreciates shared workspaces, but who still wants a “more mature” environment.

“Other shared workspaces really are trying to cater to that fresh-out-of-college ‘startup’ young millennial that appreciates more, I would say, graffiti art and slogans on the wall, neon signage, foosball, ping pong, beer pong, things along those lines — and we really don’t have a lot of that in our space,” said Silber, who describes Bond Collective as focusing more on luxurious furniture and artworks.

Another quirk that comes with teaming up with Bond Collective is that tenants will be able to vote for what amenities they want in the space. Already, there are plans for two “bistro” kitchens, a coffee bar, a gym with a locker room, a private rooftop and bike storage. Silber says that there are still more amenities to come, though, which will all depend on what the tenants desire.

The decor in one of the company's New York City locations. (Photo courtesy of Bond Collective)

The decor in one of the company’s New York City locations. (Photo courtesy of Bond Collective)

Spanning 30,000 square feet across two entire floors, the H Street NE location will be able to accommodate approximately 500 people with prices that will start at $350 per month for coworking and start at $700 for a private office, Silber says. Currently, there are no photos available of the space as it is still in the construction phase, but renderings show that it will feature floor-to-ceiling windows. The traditional offices will range in occupancy from one to 10 people, while the scalable setups will be able to accommodate teams of up to 50 people with swing spaces and IT and security services.

Bond Collective’s plans for the future are to expand even further. Already, locations being considered include Nashville, Austin, Dallas, Houston, Chicago and Minneapolis. There is also interest in opening a boutique hotel provider attached to a coworking space in Miami. The location has been chosen, but the address has not yet been released.

Rise of the Rest is moving into real estate

0
0

After a few years of stopovers on the bus, Rise of the Rest is ready to start putting down roots in cities its visited.

D.C.–based venture firm Revolution said Thursday that its effort focusing on growing tech communities outside of California, New York and Massachusetts is starting a real estate initiative.

Through the effort, the firm will make direct real estate investments that can provide space for entrepreneurs. The

“Our existing Rise of the Rest initiative has been focused on investing in entrepreneurs leveraging technology to disrupt major sectors like health care, education, and financial services outside of Silicon Valley,” Revolution CEO Steve Case said in a statement. “As we’ve traveled the country on our Rise of the Rest bus tours, we’ve seen the need for great real estate projects in emerging ecosystems where these entrepreneurs and their teams can work and live.”

The AOL cofounder told Bloomberg that D.C. would be in the category of cities already attracting real estate attention, which is apparent in the coworking category alone. He mentioned that the effort is looking more along the lines of cities like Pittsburgh, Phoenix or Nashville.

To run the operation, Revolution hired real estate investors Starling Cousley and Clint Myers, who both worked for development firm Hines Interests Limited Partnership. They will join the firm as partners, reporting to Managing Partner J.D. Vance.

According to Revolution, they’ll be looking to identify sites and bring together regional partners. They’re also eying potential investments in “Opportunity Zones,” which utilize economic development incentives created by the federal Tax Cuts and Jobs Act of 2017. Revolution notes that Case championed these efforts.

Revolution also made a separate move to invest in space for entrepreneurs this week when its growth stage division participated in a $152 million funding round to back expansion for New York–based coworking company Convene.

The real estate play is the latest move to put more lasting commitments behind its efforts, following the rollout of its Rise of the Rest Seed Fund late last year.

A pop-up hotel is coming to NoMa

0
0

A startup that runs pop-up hotels in new apartment buildings is moving into a D.C. development.

The team behind WhyHotel announced this week that it will start booking for short-term rentals out of 100 K St. NE in NoMa. In all, 95 units will be available starting on October 19.

WhyHotel offers the chance to book furnished apartments within an apartment building that’s just opening. For these short-term stays, it provides staff to offer the hospitality services typically associated with a hotel.

For the companies looking to lease up new residential spaces – in this case, Equity Residential – it’s a chance to get some early activity and attention at the building. That initial period can run 18-24 months, CEO Jason Fudin told Technical.ly Baltimore.

As the building is fully leased, the pop-up hotel packs up and moves out to make room for permanent residents.

The company was spun out from Vornado Realty Trust, where a team sought to develop a concept reflecting travelers’ desire for a more home-like atmosphere, as reflected by services like Airbnb. After a previous pilot in Pentagon City, the company closed on a $3.94 million seed round last month, led by Rockville-based Camber Creek, and with participation from Rise of the Rest Seed Fund.

Along with the expansion to a new property, the company also said Cathy Ross, CEO of vacation and travel club Exclusive Resorts, is joining its board.


Contactually and rezora team up to launch contact-syncing integration

0
0

Since the two real-estate software companies share many brokerage clients, rezora and Contactually teamed up to create a new syncing integration that makes using the two products together more seamless. The new integration will auto-sync contacts each day from Contactually into rezora, saving time for real estate agents.

Contactually provides a SaaS-based CRM platform for real-estate agents and brokerages while rezora provides digital marketing for real-estate firms. The integration will help agents focus on engaging their contacts through rezora’s marketing efforts.

“One of the benefits of a best-in-class CRM like Contactually is that agents can keep and organize their contacts in one place; they never need to do the same work twice,” Zvi Band, CEO of Contactually, said in a press release. With the integration, Band said agents would be able to get the benefits of Contactually when using rezora.

The contact syncing integration will keep the contact lists up to date and there’s no need to organize lists in rezora if they’ve already been organized in Contactually. From inside rezora, agents using the integration software can choose which list to send their marketing piece to, and send with the click of a button. Within rezora, agents can also publish a live marketing piece, share it on social media platforms and track analytics.

“We wanted to enable a better experience for agents to manage contacts seamlessly, so they can focus more on promoting their listings and themselves.” Jake Shanesy, rezora’s vice president of product, said in a press release. “Ultimately, we wanted to make sure we were providing a better experience for potential homebuyers and sellers alike.”

The integration is live and can be initiated in rezora. Visit rezora’s blog to find out more about how the integration is supposed to function.

Gensler’s ‘Let’s Get Phygital’ event is looking for exhibitors

0
0

Gensler, a global design firm with offices on K Street NW, is looking for exhibitors to be a part of its “Let’s Get Phygital: The Intersection of the Physical + Digital” event in October.

The Oct. 11 event will feature talks about the intersection of the physical and digital, showcasing tech, creative content and their impact on the human experience.

Selected exhibitors would be a part of the Tech Demonstration Laboratory portion of the event, where booths will be set up to feature interior, building and urban-tech products, research and content.

In order to apply, companies and entrepreneurs should send a one-page narrative to ambassadors@gensler.com, detailing your product, research or developing idea and why you want to be featured at the event. Applications for exhibitors for the Tech Demonstration Laboratory are due by Sept. 12 and notifications of selections will be sent out on Sept. 14.

Why a coworking company is helping members find offices of their own

0
0

Don’t take it the wrong way, but it’s time you got your own place.

That’s the message from coworking network 1776, which announced a new partnership with commercial real estate platform Truss. 1776 members will be able to find, tour and lease prospective office spaces, virtually.

“We’re always looking for unique benefits and ways to stay engaged with our member companies throughout their lifecycle,” 1776 CEO Jennifer Maher said. “Truss is a great solution to help them find their next office space and keep scaling their companies, without wasting their valuable time.”

Truss uses AI to help growing companies review and compare office space options, from the amenities to the square footage. Since founders are focused on other aspects of their companies, Truss cofounder Bobby Goodman says the platform is all about “enabling smart and fast decisions” when it comes to finding offices.

A look at the Truss platform. (Screenshot)

A look at the Truss platform. (Screenshot)

1776 members can access the Truss platform anytime. Other coworking providers are on the platform as well.

Truss and 1776 also plan to roll out the program in additional markets.

Power Moves: remodelmate makes multiple key hires, Breakout Capital Finance names CFO

0
0

Power Moves is a column where we chart the comings and goings of talent across the region. Got a new hire, new gig or promotion? Email dc@technical.ly and let us know.


This month, remodelmate announced the hiring of residential real estate expert Logan Phillips as the company’s first head of operations. Phillips is joining the home remodeling tech company after working as a project engineer and project manager at Rockville, Md.-based James G. Davis Construction. Phillips will be focused on leading the design-build of remodelmate’s projects through their Concierge program, giving homeowners a dedicated project manager.

Public relations and marketing expert Jonathan Amar also recently joined the team as the company’s head of growth. “Jon’s addition to the team marks a new day for remodelmate’s growth. I’ve built a solid foundation, and Jon will create the blueprint for and execute our expansion going forward from here.” Remodelmate CEO and founder Chad Hall said in a statement. Remodelmate now has three full-time and seven part-time employees on its team.

The company also recently expanded into the Denver Metropolitan Area, the Colorado Inno reported as it closes its seed round. In a press release, the company stated that it is nearly approaching $2 million in sales for 2018 and currently has $420,000 in commitments for its seed round.

###

McLean, Va.-based Breakout Capital Finance, a tech innovator and small business lender founded in 2015, has hired Tim Buzby as its new chief financial officer. Buzby worked at the Federal Agricultural Mortgage Corporation for 17 years, where he held titles including President and CEO, and CFO.

###

Arlington-based Giant Oak has welcomed a new board after raising $10 million in growth capital. The company uses AI, machine learning and big data analytics in a platform for government and industry security needs, Technical.ly DC previously reported. The company announced the appointment of Daniel Moser as its chief financial officer and named Jim Fowler, Joe Wald, Steve Swoboda and Tom Vander Schaaff as new board members. This announcement came after the company secured a $10 million investment from growth equity investor Edison Partners.

This month, the company announced the opening of its new offices in Arlington as a part of this growth strategy as well.

###

EVERFI Chief Operating Officer Tammy Wincup will be departing the education tech provider at the end of the year to join The Rise Fund, a global impact fund and EVERFI’s largest investor.

“For eight years, Tammy has been the backbone of building EVERFI into one of the great institutions in the impact and education space.  She has been the architect of a powerful SaaS business that serves over 3500 customers, 21 million learners, and an incredible team of over 500 people.  Tammy is the best in the business – a true marketplace builder with both vision and the ability to execute,” EVERFI Founder and CEO Tom Davidson said in a statement. “While I am sad to see my partner leave, The Rise Fund is very lucky to have her and I cannot wait to see what she does next.”

###

Bethesda-based value-based care company Aledade, Inc. has added Charlie Colligan as its chief financial officer. Colligan joins the team after working for seven years as a treasure at the CoStar Group where he led Real Estate and Procurement & Travel. He will now oversee Aledade’s finances and funding.

###

Research Innovations, Inc. hired Dr. Sourav Mandal as head of artificial intelligence. Dr. Mandal will be leading the Alexandria, Va.–based company’s machine learning and data science initiatives.

“I look forward to building upon our current analytics portfolio to bring exciting new capabilities to users, both on our existing platforms and in new domains like cyber,” Dr. Mandal said in a statement.

Why 1776 is closing its original incubator location, and thoughts on its future in DC

0
0
The original location of 1776 is closing at the end of the year.

1776 plans to leave its current D.C. location at 1133 15th St. NW after the prominent incubator network couldn’t reach an agreement over lease renewal terms with the building’s owner, DivcoWest. The lease will expire on December 31.

For now, 1776 DC members will have the option to migrate to its Crystal City, Va., campus, offering three free months of membership. It comes amid talks of Amazon HQ2 potentially landing in the Arlington community, Technical.ly DC previously reported. Leaders of the incubator plan to keep a presence in D.C., and will look to secure a new location in 2019.

The news was first reported by the Washington Business Journal.

This news comes a little over a year after a merger deal between 1776 and Benjamin’s Desk became final. In that deal, the 1776 name was retained and Benjamin’s Desk cofounders Jennifer Maher and Anthony Maher assumed day-to-day management of the incubator network. Programming for members and the tech community has continued at the space

In a statement released today, 1776 CEO Jennifer Maher explained that during the merger, 1776 shifted business models from “assuming lease liabilities to a managed service model,” that allows the incubator to expand and better manage its markets. With this shift in business model, 1776’s real estate strategy relies on partnerships with property owners to manage its spaces.

In October 2017, real estate operating company Divco West bought the 15th Street building for $101 million, as reported in Bisnow.  When 1776 was in discussion nearing the end of its lease, both parties could not agree on a new leasing term.

“Unfortunately, we were unable to come to an agreement under our new management model. While we are sad to leave our original campus location, we remain deeply committed to the District and are actively pursuing other locations,” Maher said in a statement. “We look forward to finding another campus quickly in downtown D.C. to continue serving the entrepreneurial community and continue to further build upon our dynamic ecosystem. In the meantime, we will continue our operations in the Greater Washington region from our Crystal City campus.”

Technical.ly reached out for a comment from Divco West but has not received a reply as of yet.

1776 Chief Strategy Officer Penny Lee joined the incubator first as an investor with original 1776 founders Donna Harris and Evan Burfield, and served on the advisory board when 1776 was just a concept, so she’s seen the company grow in many ways.

“It’s bittersweet, most definitely, but at the same time, it’s the right decision for the company and for the growth. It was just unfortunate that we couldn’t come to an agreement with the landlord that made economic sense,” Lee told Technical.ly. “We still remain deeply committed to the District and look forward to coming back as soon as possible.”

Lee said the company is encouraging its members to migrate to 1776 Crystal City and she said the team will be working with individual startups to find the best fit for them during this transition.

“As bittersweet as it is to end a lease term naturally at one campus, especially the original 1776 campus, it allows us to engage with several other stakeholders and landlords in D.C., that will ultimately allow us to serve even more companies and entrepreneurs,” said 1776 Chief Growth Officer and Head of Incubation Anthony Maher.

Lee said 1776 hopes to make an announcement about a D.C. campus early in 2019. The incubator is exploring neighborhoods in the general area surrounding the 15th Street location, and other areas in the District that could potentially offer a new partnership with creative spaces and opportunity zones like Wards 7 and 8.

“Hopefully we won’t be physically away from the city for very long and are able to come back and have another campus very quickly, and that’s why we want to explore maybe partnering with other groups and organizations to still be able to have an impact, deliver programming, conduct mentor office hours and still have an engagement here in the community even though we might physically not be here,” Lee said.

Lee said current DC Campus Manager Katherine DePalma will retain her role until the DC campus closes, and then transition into a different position, which Lee did not disclose.

Opened in 2013, the original location of 1776 served as a central address of startup activity in the District. President Obama prominently visited in 2014, and it offered a place for the community to gather, becoming an integral hub for #dctech. The incubator has grown to house 45 startups, hosted countless events, and even launched its own startup accelerator this fall where 10 companies are getting resources and working through a three-month intense curriculum concluding next month.

I’ve been working out of the 1776 DC space and have seen that this community is so much farther flung, even in my short three months here. Corporations have innovation centers and young companies have grown larger, with their own sleek offices and latte machines.

So what does this shutdown actually mean for 1776 DC members, the 45 startups housed on campus and the startup and entrepreneurial ecosystem in the District right now? The 1776 community was just notified of the shutdown Thursday evening, right before the news was published by The Washington Business Journal. 1776 DC is a popular hub for events, mentoring hours and some startups have been working out of the space for years.

Dale Nirvani Pfeifer, founder and CEO of Goodworld, said she was surprised when she heard the news about the D.C. campus closing. She’s uncertain what this will mean for her company, which was launched out of the incubator five years ago.

“We founded Goodworld out of 1776’s DC Campus when it opened over five years ago and it has been fundamental to our growth,” Pfeifer told Technical.ly. “I feel grateful for their team’s support and the many important connections that we made there. I wish them the best of luck in finding a new campus so they can continue to support the type of entrepreneurism that makes D.C. one of America’s top tech hubs.”

Pfeifer didn’t share if Goodworld will operate out of the 1776 Crystal City location or if the organization will find a new home.

Mark Parish is the founder and CEO of HelpFirst, another startup that works in 1776 DC. He expressed to Technical.ly that he is optimistic and shined some light on the surprising transition.

“The closing of the DC Campus is unfortunate, but 1776 is more than office space; it’s a tremendous support network and community,” Parish told Technical.ly. “We focused solely on DC for the launch of HelpFirst.com, but have recently begun working to bring products and services from merchants in Bethesda, Arlington, and Alexandria onto the Impact Marketplace as well, so the offer from the 1776 team to provide workspace at the Crystal City Campus while they transition to a new location in the District is greatly appreciated. ”

Along with the incubator that housed startups, 1776 also has ties with coding school General Assembly. The D.C. campus of General Assembly shares the eighth floor of the building with 1776, and it launched through an education partnership with the incubator in 2013.

Paul Gleger, senior regional director at General Assembly, said that the two businesses will continue their real estate partnership until the end of the year. Even though 1776 is leaving the building, General Assembly is staying put for now.

“General Assembly will continue to operate our campus in our current location. As our community grows, we will explore further expansion opportunities in 2019,” Gleger told Technical.ly. “There won’t be any changes to our day-to-day campus operations, and we’re excited to continue supporting the vibrant DC tech, design, and data communities. We’re grateful for our partnership with 1776 and look forward to see what they do next.”

Gleger said moving forward, General Assembly and 1776 will operate their real estate operations independently but that General Assembly still considers 1776 a community partner.

Jennifer Maher told The Washington Business Journal that as the incubator is in search of a new D.C. home, it is still exploring additional campuses in Maryland and Northern Virginia. 1776 DC’s last community event will be Demo Day for its inaugural accelerator class slated for Dec. 12.

Viewing all 67 articles
Browse latest View live




Latest Images