STATE OF GEORGETOWN
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 email@example.com 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:
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:
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: