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A year ago, the Wonder Bread Factory was struggling. Douglas Development’s ambitious project had transformed the vacant Shaw factory into boutique office space, but tenants were hard to come by. The anchor tenant, WorkSpacesLLC, had just backed out of its lease amid financial hardship.
Now things look much rosier. The tech marketing firm iStrategyLabs is taking over the first floor of the building, and it’ll be the final piece of the puzzle: According to Douglas Principal Norman Jemal, with iStrategyLabs’ lease for about 17,000 square feet, the building is now 100 percent leased out.
iStrategyLabs founder and D.C. tech maven Peter Corbett made the announcement of the move on his blog, iStrategyBlabs. “We’ve leapt up to 50 people and can foresee a 100 person company within the next couple years,” Corbett wrote. “That means we have to move.”
The new space, Corbett writes, will be three times the size of the company’s current Dupont Circle office. That office is also owned by Douglas, which will now have to find another tenant for the Connecticut Avenue NW space.
Correction: This post initially misspelled Norman Jemal’s first name as “Normal.” We regret the error and any undue allegations of normalcy.
Photo from Douglas Development’s retail flyer