Each year the Georgetown BID examines the performance of the commercial district in the prior year. In prior years the Georgetown BID has produced a comprehensive market report. In 2017, the BID is producing a series of reports focused on different segments of the market. These reports are intended to be resources for business owners, property owners, brokers, potential tenants, and others interested in doing business in Georgetown. The Retail Marker Report is the first report of the year. Contact Jamie Scott, the BID's economic development manager, at for any questions or suggestions to improve these reports.

2016 was a strong year for the Georgetown retail market despite increased competition locally and changes in the retail market nationally, demonstrating that Georgetown continues to be a highly desirable and stable retail district. During calendar year 2016: 

  • Thirty-four new retailers opened and 25 closed, for a net gain of nine new retailers
  • Georgetown continues to be an attractive retail district for online retailers to open brick-and-mortar locations and a first location for national and international brands entering the market
  • The 27-year old restaurant liquor license moratorium officially ended, and some new restaurants have already obtained liquor licenses
  • Wisconsin Avenue cotinues to change, as building owners in the 1300 and 1400 blocks renovated or began renovating their buildings, and new tenants filled many of the vacancies in the 1600 block
  • While some large vacancies still exist, many new retailers are on track to open in 2017, filling notable spaces and bringing new tenants to the market

View the Retail Market Report


In 2016, Georgetown was once again the strongest-performing office submarket in the region, with occupancy rates at 94.5% and average gross rent 13% lower than the Central Business District. During calendar year 2016:

  • Office occupancy increased 0.5 percentage points from the end of 2015
  • Office rents increased nearly four dollars per square foot over 2015, largely driven by an increase in Class A rents
  • Office net absorption was positive but small, just under under 15,000 square feet, with Class B and C buildings absorbing most new space
  • Five office buildings traded hands, totaling $163.5 million in sales volume, driven by JBG's sale of Jefferson Court (1025 Thomas Jefferson Street NW) to a Qatari investment firm for $141.8 million
  • Georgetown businesses supported over 13,000 jobs, more than of which are considered office workers



Georgetown remains the premier destination for luxury and upscale hotel accomodations in Washington, D.C. In 2016, Average Daily Rate (ADR) and Revenue per Available Room (RevPAR) increased over 2015. During calendar year 2016:

  • Average hotel occupancy declined slightly to 70.1% compared to 71.6% in 2015
  • Georgetown ADR was $404.89 in 2016 and RevPAR was $283.77
  • Total revenue increased to $75.7 million in 2016 from $72.3 million in 2015
  • Four of Georgetown's six hotels traded hands, indicating the strength of the hotel investment market



View previous economic development and research reports:

State of Georgetown 2016 

State of Georgetown 2015


Liquor License Moratorium White Paper