With more workers opting to work remotely, The Motley Fool plans to reduce how much office space it rents in Alexandria’s Carlyle District, the Washington Business Journal reports.
The Motley Fool, a company that offers investment advice, will reduce its headquarters space to 34,000 square feet on one floor of 2000 Duke St. after June. It currently leases 114,000 square feet on multiple floors of the 164,000-square-foot office that sits across from the King Street Metro station.
The downsizing comes just months after the U.S. Patent and Trademark Office, a few blocks away, said it would not renew one-third of the space it leases. The USPTO is Alexandria’s second-largest employer.
The Washington Business Journal reported in November that the General Services Administration would renew three of the U.S. Patent and Trademark Office’s five buildings. The move reduces its space to 1.6 million square feet from 2.4 million, for a savings in lease costs of $150 million over five years.
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