Submarket Spring 2019 Book Spring 2019 Washington, DC Retail Observations | Page 27

EAST END
State of the Retail Market
SUPPLY
With the second largest daytime population of 203,376 and the third-largest residential
population of 23,200, the East End boasts a diverse customer base including residents,
tourists, 8-6 office workers, and the over 1.8 million annual visitors at Capital One Arena.
Recent leases near Capital One Arena have commanded some of the highest rents in the
city, such as Capital One Café among other national tenants, as retailers realize the potential
of the nightlife revenue generated by the arena’s 220 average events annually. Despite
increasing rents though, 7th Street has seen storefront closings continue to increase and a
rise in vacancy. On the western portion of the submarket, Midtown Center is increasingly
becoming a new retail hub with three new full service restaurants announced. To the east,
Mount Vernon Triangle remains active as restaurants continue to open and Apple’s opening
at Carnegie Library nears.
Vacancy
rate
32,769 s.f. $65-$370
Largest available
retail space Asking rent range
32 65 267
*Includes only occupied storefronts to which a price point applies
107 139 135
18 98 REGIONAL 225
209
10.2%
RETAILERS BY CHAIN TYPE
RETAILERS BY PRICE POINT
722 Total retail
storefronts
*Includes only occupied storefronts
RETAILERS BY INDUSTRY
49.7% 9.0% 8.9% 5.3% 4.8%
Dining Specialty Professional Apparel Cosmetic/Beauty
2.6%
Fitness/Wellness
22