In Winter 2023, Dochter & Alexander finds a 13.64% vacancy rate for Washington, DC’s retail high streets. Vacancy is lower in suburban submarkets like Bethesda, Clarendon, and Rockville and in urban submarkets with a sizable residential component, like Columbia Heights and the 14th Street Corridor. In contrast, elevated vacancy rates in the East End and Central Business District illustrate the impact of widespread work-from-home policies on retail in dense office corridors.
In Dochter & Alexander’s Summer 2022 Retail Market Report, retail vacancy averages 14.03% across DC as improving local metrics – metro ridership, hotel occupancy, and the unemployment rate – all support increased retail spending. With multiple venture capital-backed concepts actively seeking space in DC, at least 140 new shops and restaurants are now preparing to open.
Past Market Research Reports
We have been monitoring the DC Retail Real Estate Market and providing quarterly reports since 2015.