Wednesday, May 16, 2018

Coworking space signs lease at 7200 Wisconsin

Industrious, a New York-based coworking space provider, has leased the entire fifth floor at 7200 Wisconsin Avenue. Property owner JBG Smith recently renovated the building's exterior, and added restaurant space that attracted World of Beer to Bethesda Avenue.

The lease is for a total of 28082 SF in the 12-story, Class A, LEED Gold-certified office building. CRBE assisted JBG Smith in the deal, which gives Industrious its second D.C. area location. The first is at One Thomas Circle in the District.

“We are pleased to welcome Industrious to 7200 Wisconsin Avenue, accommodating their growth in the region as they open their second Washington area location in our building,” JBG SMITH Executive Vice-President David Ritchey said Tuesday. “We would like to thank the Industrious team, along with Brad Wilner of CBRE, for their collaboration and partnership.”

JBG Smith has been on a roll in the last ten days, despite Montgomery County's moribund economy, bringing Orano USA on-board as a tenant at its under-construction 4747 Bethesda Avenue office tower. Industrious will move in this summer.

15 comments:

Anonymous said...

You just had to use the m word despite this great news. You need to get off your soap box and find another angle if you think anybody will take you seriously.

This JBG Smith news with with an exciting new 7200 Wisconsin full floor tenant and the nearly fully leased 4747 Bethesda project (still under construction), the new 22 story Avocet Tower, two new hotels, the new 22 story 7272 Wisconsin by Carr with a signed multifloor Fox 5 News, a new 9 story office tower planned near Harris Teater, and a possible iconic new 290’ Tower by Bernstein at Metro Center 4 designed by SOM, one of the worlds leading design firms, do not add up to “moribund”, at least in Bethesda.

Perhaps other areas of Montgomery County are lacking new office development, but not in Bethesda.

You might ask why the office market is so hot right now in Bethesda. I would say the combination of great existing Metro and upcoming Purple Line transit access, higher and more efficient buildings compared to those allowed in DC, great urban living, dining and shopping opportunities, a great walkable urban streetscape, but mostly by new zoning regulations that encourage new opportunities for enhanced development created by new zoning that allows taller buildings. The new zoning is designed to require many community benefits like urban parks or payment in lieu, density transfers, higher quality design, constrained parking that reinforces transit uses, and environmentally sound design. I believe the new Bethesda Master Plan, protected and informed by the new Bethesda Design Guidelines are at least partially responsible for all this office activity.

Of course some is just pent up demand, but the knowledge that there is a limit to the allowable new construction has actually accelerated the activity. Get your plans submitted and approved before the density limit is achieved. This seems to have caused many developers to move their plans forward. Perhaps a bit tough to endure such a wave of development, especially along Wisconsin Avenue, but if incentives were intended to accelerate development, they seem to be working. I personally like the idea of a condensed period of intense construction that might last 4-5 years, instead of a slow trickle of seemingly endless development over decades.

Anonymous said...

"JBG Smith has been on a roll in the last ten days, despite Montgomery County's moribund economy"

-> FYI: Stupid statements like these undermine your entire article.

Anonymous said...

Very well stated 6:21. I fully concur.

Anonymous said...

Dyer logic:

- Business closes: blame the moribund economy
- Business opens: an amazing achievement despite the moribund economy

Every action in this county, good or bad, can be attributed to the moribund economy.

Anonymous said...

This has to be Dyer's craziest post of the year. Please tell me he hasn't posted anything even crazier.

"That may have been true in the 70s, but not anymore. Families used to have 4, 6 or 8 kids in many homes in 20816. Convinced by propaganda to have only 2.5 kids today, families in single-family homes are producing less students, while apartments are producing more. That's why over 50% of BCC students are from apartment buildings."

Anonymous said...

I read the propaganda and I am doing my best to follow it. The first two kids were easy, and actually kind of fun to produce, but that last 1/2 kid turned out to be a real problem.

How many people do you know that we’re born in the 70’s and have 7 brothers or sisters?

I love how Robert makes this stuff up!

Tim said...

Riemer, Leggett, et al are the ones arguing with statistics. They are ushering us into a post truth era in MoCo, where any economic or crime stats not consistent with the Council's narrative is dismissed.

S Jones said...

Dyer can you start blocking these snowflakes?

Anonymous said...

Why, S Jones? Are you in need of a safe space?

Anonymous said...

"Families used to have 4, 6 or 8 kids in many homes in 20816. Convinced by propaganda to have only 2.5 kids today, families in single-family homes are producing less students, while apartments are producing more. That's why over 50% of BCC students are from apartment buildings."

We must undertake a thorough investigation to find out why single-family homeowners abort their babies at four times the rate of apartment dwellers.

Robert Dyer said...

7:27: Have you ever heard of birth control, dummy?

Robert Dyer said...

6:21: You keep citing the same handful of examples - meanwhile, the Capital One tower in Tysons alone blows away any economic development "news" in Montgomery County. Add up all the new jobs and offices in Tysons coming online this year alone, and it's more than several years' worth in Bethesda.

You are grasping at straws to avoid confronting the moribundity that is MoCo economic development.

Anonymous said...

@6:21am: Where are all the great new urban parks? How much new green space is there within a half mile of Bethesda and Woodmont? When will get a dog park so that we don't have to use the elementary school as a dog park?

Anonymous said...

Well lets see, within 1/2 mile of the intersection of Woodmont Avenue and Bethesda Avenue you will soon have dedicated urban parks at Woodmont Plaza or maybe called the CCT Plaza (NE Corner of Woodmont and Bethesda Avenue) and the proposed Farm Women's Market Urban Park and the proposed Urban Park and underground parking east of the Farm Woman's Market.

In addition you have the very nice Caroline Freeland Urban Park (south of the elementary school and north of the Giant) with a nice set of playground equipment, Elm Street Park, Leland Park and the very large Norwood Local Park with ballfields.

You also have the linear biker/hiker Capital Cresent Trail that runs south of Bethesda Avenue flanked by large trees that extends all the way to Georgetown. This will extend NW all the way to Silver Spring in a few years, passing through a golf course and Rock Creek Park.

So you now have at least 5 urban parks/linear trails and will soon have 4 more urban parks/linear trails for a total of 9 public urban parks /trials.

You also have several large privately owned but fully publicly accessible open spaces between buildings along the west side of Wisconsin that connect to the Metro Plaza, a great new green space and walkway south of the Flats of Bethesda Avenue which includes three fountains. The block bounded by Bethesda, Woodmont, Elm and Wisconsin will have three large publicly accessible plaza with tree arbors, fountains, seating, shade trees, sculptures at the corners. Bethesda Lane itself is a publicly accessible urban plaza. More publicly accessible plazas are located across Wisconsin near the Panera Bread and at the proposed plaza at the Avocet Tower which will include a large water feature and sculpture.

I have been to many, many cities in America, Canada and Europe and although we don't have a singular large green park like Central Park in NY, Bethesda has tons a great places to relax and read a book, have a picnic, toss a frisbee, or just relax and watch the folks enjoying living in one of the coolest and most livable cities in America. If you seek more green space, I suggest you might want to move to farm in Poolesville.

Anonymous said...

Although road/pedestrian access is not very direct, the very nice Norwood Local Park is less than 2,000 feet (as the crow flies) from the intersection of Bethesda and Woodmont Avenues.