TLDR:
- Andreessen Horowitz is expanding its activity in D.C. with a new office downtown.
- They are planning to take 12K SF at 800 17th St. NW, a sublease from FedEx Corp.
In a strategic move, the tech-focused venture capital giant Andreessen Horowitz is set to establish a new office in downtown D.C., signaling a push for more involvement in the nation’s capital. The firm, known for its investments in tech companies like Airbnb and Facebook, is leasing 12K SF at 800 17th St. NW, indicating a step towards a more prominent presence in D.C. The move not only fills some of the available office space in the area but also presents an opportunity for local tech companies seeking investment.
Traditionally, D.C. has been dominated by government agencies and law firms in terms of office occupancy, with tech firms accounting for only 4% of leasing activity. However, with high-profile firms like Andreessen Horowitz making a move to downtown D.C., the landscape could be shifting towards a more tech-centric environment. The location of the new office aligns with the city’s vision for a tech-focused hub in the Penn West neighborhood, signaling a potential transformation in the area.
Moreover, Andreessen Horowitz’s increased focus on tech companies serving the federal government and Department of Defense is evident in their recent fundraising efforts for their American Dynamism practice. With $42B in assets under management, the firm’s expansion into D.C. signifies a strategic move to tap into the growing tech ecosystem in the nation’s capital.
