New Kids On The Block: Georgetown
Palantir Technologies
Palantir became the anchor tenant of the 317k SF Jefferson Court when it inked a deal to lease 61k SF in the distinctive building. JBG acquired 1025 Thomas Jefferson St from NSP Ventures, a Japanese investment company, striking an $80M deal in 2012. Most recently, JBG planned to sell the property due to its merger with New York REIT. Since that merger was canceled earlier this month, the future of the building is unclear.
The $5.2M shelled out by JBG for upgrades increased the occupancy rate from 65% to 96%. Palantir represents one of Georgetown’s largest corporate tenants, as narrow buildings and small floor plates impede big companies from establishing a presence in the neighborhood.
Escape Room Live
The Escape Room Live experience is coming to M Street, Georgetown’ busiest retail corridor, signing a lease for 6k SF earlier this year. Patrons are locked in a room and must rely on clues to solve puzzles to regain their freedom. This location’s themes are Teenage Mutant Ninja Turtles, Ghostbusters, The Mummy, Titanic, Friday the 13th and the works of Edgar Allen Poe. Eastbanc principal Philippe Lanier says what differentiates this Escape Room is its first-floor location on a main street, which he hopes will increase foot traffic.
