New Kids On The Block: The R-B Corridor
The move is a merger of two Thornton operations in the DC area. The firm intends to invest nearly $16M into the new office, which will span four floors and take up 76k SF in Monday Properties' twin towers development.
The move also makes the firm eligible for tax credits based on job creation and will receive $1M from Virginia's Opportunity Fund. Because no big deals in the commonwealth get done without some help.
The new space—a 19k SF office at 1100 Wilson Blvd, Monday's other twin tower—is slated to open later this year and is nearly 60% sub-leased already. Eastern Foundry will potentially earn $450k in incentives should its tenants create a significant number of jobs for the local area.
A native of DC, the tech startup Phone2Action is crossing the Potomac and heading to Rosslyn. The move comes after the company secured nearly $5M during a Series A funding round.
Company co-founder Jeb Ory says it views Rosslyn as a future tech hotbed. The tech company is moving into Monday Properties' 1401 Wilson Blvd, and Gov. Terry McAuliffe was at its office opening ceremony, doing what he does best: cutting deals to bring jobs to the Commonwealth of Virginia, even if it's for just a couple of thousand square feet.