Startup incubator 1776 plans to shutter its District campus when its lease expires at the end of the year, saying it couldn’t agree on new lease terms with building owner DivcoWest.
But 1776 is “deeply committed to” a D.C. presence as part of its long-term expansion and has begun looking for a new location, roughly 15,000 to 20,000 square feet, to replace its office at 1133 15th St. NW, said CEO Jennifer Maher in an interview. She said Mayor Muriel Bowser’s office has offered some support, and 1776 hopes to announce a new location by the second quarter of 2019.
“The lease is naturally expiring,” Maher said. “Even if we were considering a lease, it doesn’t make sense for our model and it was going to be expensive. We just couldn’t reach a deal with them.”
I’ve reached out to DivcoWest for comment and will update this if I hear back.
That D.C. office was one of the legacy operations and birthplace of the original 1776 enterprise, founded in 2013 by Donna Harris and Evan Burfield…Read the full story from the Washington Business Journal.