Washington, DC Economic Partnership Attends ICSC Mid-Atlantic
DC Retail Market Potential Featured
Contact: Andi Joseph
Director, Research & Communications
Washington, DC Economic Partnership
February 23, 2012
This week, the Washington, DC Economic Partnership (WDCEP) showcased the DC development market and available retail opportunities at the International Council of Shopping Centers’ (ICSC) Mid-Atlantic Conference and Deal Making event, held at the Gaylord National Resort & Convention Center. The ICSC conferences are key venues where the WDCEP can attract retailers and restaurants to the available retail spaces in DC.
Over the past 15 years, billions of dollars in investments in DC’s downtown and waterfront areas has attracted new retail, restaurants and entertainment establishments, resulting in national recognition of DC as a top retail investment market in the nation. DC has become a major hotspot for retail investment due to DC having the fastest population growth rate in the nation and an estimated annual retail leakage of $1 billion. Since 2001, investors and developers have responded by building 4.4 million square feet of retail space with another one million under construction as of the end of 2011.
“ICSC Mid-Atlantic puts us in front of retailers and restaurateurs that are looking to expand into the Mid-Atlantic region and gives us an opportunity to tell them why DC is the place they should be doing business,” says Keith Sellars, President & CEO of the WDCEP. “ICSC conferences allow us to tell the whole DC story to developers and retailers, not just the story of a city of monuments, but the story of a city with vibrant neighborhoods, a thriving economy, and high retail market potential.”
Yesterday, the WDCEP released the DC Neighborhood Profiles 2012. The Profiles offer overviews of 37 District’s neighborhoods, including demographics, maps, Metrorail counts, traffic counts, Walk Scores and more.
During the conference, the WDCEP held meetings with several retailers and retail brokers to discuss bringing more business to the District. Some of the key retailers and restaurants the WDCEP met with were Kilwin’s Chocolates, a handmade chocolates, fudge, and ice cream establishment, Energy Kitchen, a fast-food restaurant that only offers healthy choices, Giant, Harris Teeter, Safeway, Modell’s Sporting Goods, Walgreens, and Roy Rogers Restaurants. The WDCEP also met with several prominent retail brokers that represented a variety of businesses and franchise opportunities, including Vapiano, Toys R Us, Uncle Julio’s, Pete’s Apizza, Alfred Angelo, BangBang Mongolian Grill, Flip Burger Boutique, Quiznos, Famous Daves, West Elm, White House Black Market, and more.
The District government and the WDCEP’s attendance at nation-wide ICSC conferences for the past 15 years have led to deals that landed many of the popular retailers and restaurants seen in the District today. Increasing the number of retail and restaurant establishments provides more options to District residents, while also increasing the District’s taxable retail and restaurant sales. In May, the WDCEP will be leading the DC delegation to the 2012 ICSC RECon, a global retail real estate convention at the Las Vegas Convention Center, which attracts 35,000+ retail and real estate professionals.
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It is the mission of the Washington, DC Economic Partnership, a 501(c)(3) nonprofit organization to promote business opportunities throughout the District of Columbia and to contribute to business retention and attraction activities