JLL: Twice as Many DC Retail Opened vs. Closed Since 2022
Washington, DC’s retail sector is experiencing a robust rebound, with a surge of new establishments revitalizing the city, according to recent research published by JLL. Since 2022, 259 retailers have opened their doors, while only 118 have closed. The city’s retail sales are outpacing the national average, with a year-over-year growth of 7%, exceeding the US average by 200 basis points.
Restaurants and bars dominate the new openings, comprising 74% of the total. Georgetown stands out as a retail hotspot, with 16 of the 20 apparel and accessory retailers choosing the area for their launch. Georgetown has also achieved the largest net retail gain in the city, with 59 new retailers, just four closures, and 13 more upcoming openings.
DC’s entertainment retail sector is also thriving, with 12 new concepts emerging, including competitive socializing venues like Kraken Courts and Puttery, e-sports spaces like District-E, and creative pop-ups like The Office Experience.