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JLL DC Report: Retail is Thriving
In the heart of Washington, DC, a retail renaissance was quietly underway. The city’s retail scene had faced its share of challenges, but its bounce-back was nothing short of remarkable. With monthly retail sales growing at 7% year-over-year, DC outpaced the national average by 170 basis points, according to JLL’s DC Retail Outlook 2023.
The streets of Georgetown buzzed with excitement as 59 new retail stores spread their doors in 2022, and there were whispers of 13 more on the horizon. The city’s spirit of resilience was evident as restaurants and bars took the lead, accounting for 71% of new openings in 2023.
As the sun set over the capital, a new trend emerged: “competitive socializing.” Escape rooms, art installations, and mini golf embraced the city, adding a vibrant layer to the retail tapestry. Amidst this revival, DC’s retail story was one of growth, adaptability, and an unwavering spirit.
