FiscalNote Relocates DC Headquarters
- Jun 27, 2017
JLL has closed a lease at 1201 Pennsylvania Ave. NW on behalf of FiscalNote. The company will occupy an entire floor, totaling 38,000 square feet, in the Heurich Building. FiscalNote is relocating from its previous office at One Thomas Circle, where it occupied 22,000 square feet since February 2016.
FiscalNote began its search for a new headquarters in the summer of 2016, looking to move to Northern Virginia, at first. The company was seeking flexible space with room for multiple expansion rights, after having outgrown two locations in D.C.
Giving back to the community
The D.C. Mayor’s office granted the company a $750,000 incentive to stay in the area, in exchange for helping residents improve technical skills through training, internships and apprenticeship programs.
“With success in recent rounds of funding and client building, we decided it was time to find a more permanent home in the D.C. area and create a space that reflects our unique mission,” said Tim Hwang, co-founder & CEO of FiscalNote, in prepared remarks. “Because of our long standing partnership with JLL, the team understood our company and developed a strategy to align our real estate goals with our corporate vision, enabling us to focus on our business’ growth. By minimizing our near term real estate liabilities with several short term office leases, we were then well-positioned to make a long-term commitment to our new headquarters at 1201 Penn. JLL also assisted in the facilitating of financial incentives from the Mayor’s office to stay in D.C. in exchange for providing a direct educational service to D.C. residents.”
Built in 1980, the Heurich Building offers a total of 444,860 square feet of space. Housing 13 stories, including 17,300 square feet of ground floor retail, the asset underwent cosmetic renovations in 2013 and features 299 parking spaces.
Bobby Blair and Andy O’Brien of JLL represented FiscalNote. The building is owned by Sentinel Real Estate.
Image courtesy of Yardi Matrix