Submarket Spring 2019 Book Spring 2019 Washington, DC Retail Observations | Page 18

CBD
Demand Drivers
The CBD has almost no residential, but it does have one of the highest office densities in the city. As a
result, the submarket has one of the highest daytime populations of 163,000 people, more than 65% of
which are working office jobs, filling up 28 m.s.f. of office occupancy. Law firms are the principal driver of
daytime demand with 45 of the AmLaw100 firms and more than 8,000 lawyers located in office buildings
primarily along K Street, Connecticut Avenue, and Pennsylvania Avenue. The CBD also attracts finance,
consulting and technology companies, which tend to co-locate in similar buildings as law firms and
nonprofits, which tend to locate on the north to south streets in more cost-effective office buildings on or
around the 19th Street corridor.
8,396 $62,543 22.4 163,076 31,736,603 s.f. 2,043
Population Median HH income Median age Daytime population Total office space Multifamily units
ANNOUNCED RETAIL OPENINGS
1 Sephora
2 JPMorgan Chase
3 Officina Café
ANNOUNCED RETAIL CLOSINGS
13 W A S H I N G TO N D C R E TA I L O B S ER VAT I O N S
A GRK Fresh
B Chef Brian’s Comfort Kitchen
C CF Folks
D Art of Shaving
E Victoria’s Secret
F Rochester Big & Tall
G Buredo