Global Retail City Profiles United States of America


Washington DC


Bright young talent is drawn to the nation’s capital each year to work for the government and the concentration of surrounding industries which serve it. Visitors come from around the world to see museums, cultural institutions and monuments. A variety of retail, new and old, serves those many shoppers. Adding to the region’s appeal is the recent opening of The Wharf on the city’s southwest waterfront. The new billion dollar mixed-use project with retail, entertainment, and housing is one of the city’s most prominent new developments, activating a one-mile stretch of prime waterfront real estate. Phase II is expected to bring even more retail space designed by a handful of renowned architecture firms.


Prime urban retail M Street, Washington DC’s premier urban retail corridor, is set in the affluent Georgetown neighborhood. Luxury and luxury lite price point apparel and accessory brands like Coach, Kate Spade, and Tory Burch line the corridor. Georgetown’s charming and culturally rich streets attract not only the luxury retailers but have drawn online retailers like Warby Parker and Birchbox. Bluemercury, Georgetown Cupcake, and sweetgreen all got their start on M Street, taking advantage of both the concentration of nearby high-earners and Georgetown University students. As a result, prime rents have increased since last year. A handful of M Street’s luxury retailers have also trickled into CityCenter, downtown DC’s luxury mixed-use center.


Shopping centers CityCenter, built in 2013, is widely considered the luxury retail epicenter of Washington, DC outside of Georgetown. The project has seen a migration of luxury retail tenants from neighboring submarkets including Dior, Bulgari, and Louis Vuitton. CityCenter also benefits from a confluence of three major metro stations that provides significant foot traffic. Outside city limits, Tysons Corner has the largest retail square footage in the metro area. Tysons Galleria, CityCenter’s only true luxury rival, just across the street boasts a luxury and luxury lite tenant mix that includes Chanel, David Yurman and Elie Tahari. Adding to its appeal is Isabella Eatery, a 41,000 s.f. food hall that opened at the end of 2017.


Shopping center Tysons Corner Center


Westfield Montgomery Mall Tysons Galleria DC USA


Bethesda Row


Shops at Georgetown Park Pike & Rose CityCenterDC Source: JLL 2018


Opening year Size (sqft) Location 1968 2,400,000 McLean, VA


1968 1,224,000 Bethesda, MD 1988 2008 2008 1981 2014 2013


800,000 McLean, VA


546,000 Washington, DC 533,000 Bethesda, MD 231,000 Washington, DC


Population 6.2m


Prime rent (sqft per year)


US $220 Prime rental information for Bloor Street


Key indicators Population (‘000s No.)


GDP per capita (US$, real, PPP) GDP Forecast 2018-2022 (% pa)


Retail Sales Forecast 2018-2022 (% pa) Global CBRA rank (out of 140 cities)


Rental growth outlook


6,204


$76,549 1.9 2.6


39th


Source: JLL, Oxford Economics (May 2018) Global CBRA Rank = Global Cross Border Retailer Attractiveness Rank


Key retail entrants


Uniqlo Lidl Aldi


&Other Stories Amazon Books


Key tenants


Bloomingdale’s, AMC Theatres, H&M, Apple Store, West Elm Nordstrom, ArcLight Cinemas, Urban Outfitters, Apple Store Chanel, Cartier, Burberry, David Yurman, Elie Tahari Target, Best Buy, Bed Bath & Beyond, Marshalls, Petco Warby Parker, Bluemercury, Apple Store, lululemon, Bonobos Dean & DeLuca, H&M, HomeGoods, The Frye Company


208,000 North Bethesda, MD iPic Entertainment, Gap, Nike, Lucky Brand, francesca’s 191,000 Washington, DC


Hermès, Bulgari, Burberry, Moncler, Zadig & Voltaire Copyright (c) JLL IP, INC 2018


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