Submarket Spring 2019 Book Spring 2019 Washington, DC Retail Observations

GEORGETOWN State of the Retail Market SUPPLY After a high growth period, leasing activity in Georgetown remains relatively quiet. However, the submarket’s storefront composition remains 44% anchored by apparel, accessories, cosmetics and home retailers, and thus the neighborhood continues to be a shopping destination for residents, students, and visitors—domestic and international—and remains a top pick for national and global retailers looking to open a store in DC. Rents are still among the highest in the region with the highest falling at the intersection of Wisconsin and M, but tenants have recently seen landlords offer more concessions to fill vacancies and that will continue until storefront vacancy falls under 5%. 25,500 s.f. $40-$225 Largest available retail space Asking rent range 12 13 278 *Includes only occupied storefronts to which a price point applies 20 64 90 29 82 REGIONAL 172 144 7.2% Vacancy rate RETAILERS BY CHAIN TYPE RETAILERS BY PRICE POINT 487 Total retail storefronts *Includes only occupied storefronts RETAILERS BY INDUSTRY 20.3% 25.3% 12.7% 9.2% 8% Apparel Dining Specialty Cosmetic/Beauty Home/Interior Furnishing 6% Accessories 26

Submarket Spring 2019 Book Spring 2019 Washington, DC Retail Observations | Page 31