Facebook Looking To Double Its DC Footprint With Terrell Place Lease
Facebook Inc. is in talks to lease more than 50K SF at Terrell Place, more than doubling its DC footprint, three sources tell Bisnow.
The social media giant is looking to move from its 20K SF government affairs office in the Warner Building at 1299 Pennsylvania Ave. NW. Vornado, the Warner Building's owner, has listed the eighth-floor suite Facebook occupies on CoStar, noting it will be available in 2021. Facebook declined to comment.
Terrell Place, a 275K SF building across from the Verizon Center at 575 7th St. NW, lost its anchor tenant earlier this year when law firm Venable departed for the newly built 600 Massachusetts Ave. NW.
Beacon Capital Partners owns the building, which has Mexican restaurant Rosa Mexicano on the ground floor, as well as the now-vacant retail space once occupied by the National Museum of Crime and Punishment. JLL leases the building on behalf of the landlord. Neither party would comment on the deal.
Facebook's new office would be just six blocks east from its current one, but it would occupy a significantly larger suite. The growth of its DC office, which focuses on public policy and government, could be related to the social network's recent crackdown on "Fake News" and increased scrutiny on its influence on politics following the 2016 election.
The move comes as DC is experiencing increased demand from tech companies. Top tech brokers expect to see several big deals signed this year, from national tech firms like Facebook increasing their DC presence and from startup companies growing out of smaller offices.
