RSS FeedGallery Square Retailers Announced (7th & H St NW)
The WaPo’s Capital Business blog has the scoop on which retailers will be going into the Gallery Square development on Northeast corner of 7th & H St NW. They are: Walgreens, YO! Sushi restaurant (UK-based) and Panera Bread! We do have to caution that the Wallgreens announcement is the only one that is official.
As we’ve seen many times in the past, we can never be 100% sure that a retailer is going to open up until they are actually open! Prior tenant, CVS, fought hard to remain open on the same corner a few years ago, perhaps illustrating how hot the retail market is on that corner. The WaPo alludes to a per sq foot rent as high as $160!
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Had me excited that is was going to be real retail for a second.
This is better than an empty decaying building, but far below fitting for one of the most vibrant corners in the city. First the underwhelming design. Now, the underwhelming retail. At least Yo Sush can’t yet be found in generic strip mall.
with rents that high, it will all be national or global chains that can afford the $ per square foot. a retail venue has to generate a lot of $ in sales to cover $160 per ft2. if the goal is to have more people live downtown, then it’s disappointing that a residential component was not included in the project be it rental or sales, but a vacant building is no piece of eye candy either.
I wonder if Walgreens plans to be open 24 hours? anyone who remembers the 24 hour CVS that was at that corner will remember the undesirable loitering that occurred outside the door.
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CVS fought very hard to keep that space while the parcel was being redeveloped, and forced the entire project to be delayed such that it became a victim of the 2008 recession (remember all that?). While Walgreen’s may not be anyone’s “dream tenant” on that corner, I have a serious case of schadenfreude that CVS’s shenanigans ultimately resulted in their competitor getting the space.