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 jscott@georgetowndc.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: 

  • 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