About

Real Estate

Georgetown’s unique commercial real estate combines small spaces in historic industrial buildings, modern office buildings overlooking the Potomac River, and redevelopment opportunities bringing activity to underused spaces. The diversity of real estate in an amenity-rich neighborhood makes Georgetown a world-class location for businesses, employees, shoppers, and visitors.

Reports and Guides

The Georgetown BID regularly monitors the performance of the commercial district and produces reports, studies, and other data on the Georgetown economy. These reports are intended to be resources for business owners, property owners, brokers, potential tenants, and others interested in doing business in Georgetown. Email info@georgetowndc.com with any questions, suggestions, or requests for previous reports.


Download Reports:

2020 Georgetown Retail Market Report
2018 Georgetown Retail Market Report
2018 Georgetown Hotel Market Report
Why Georgetown: Where You’ll Want to Go to Work
Pop-Up Guide

Leasing and Sales

Georgetown’s commercial real estate market includes over 5.5 million square feet of retail and office space in over 450 buildings. Use these maps below to find information about office leasing, retail leasing, new retail and restaurant tenants, and property transactions.

 

 

Development Projects

Several development projects are breathing new life into obsolete buildings and bringing new activity to underused spaces. These projects represent new opportunities for high-end residential units, flagship retail and restaurant space, and luxury accommodations for Georgetown visitors.

 

Prospect Place

3220 Prospect Street, NW
28,000 square feet of retail space
Anticipated delivery 2021+

Prospect Place is a new two-story retail development from McCaffrey Interests, located across from Cafe Milano, Peacock Cafe, Morton’s the Steakhouse and Mai Thai restaurants. The development features 28,000 square feet of rentable retail space and 101 parking spaces. For more information about Prospect Place, contact Morgan Ziegenhein for development inquiries [mziegenhein@McCafferyInterests.com, 703-351-9500] and Rory Cameron for leasing inquiries [rcameron@mcCafferyInterests.com, 703-351-9500].

3000 M Street

3000 M Street, NW
30,000 square feet of retail space on M Street
88 hotel rooms
Anticipated delivery 2022+

Thor Equities is redeveloping the former Latham Hotel at 3000 M Street, bringing new flagship retail space to M Street and a renovated boutique hotel. Demolition of the existing M Street retail space and renovation of the hotel building began in August 2017, with expected delivery in late 2019. For more information about the 3000 M Street redevelopment or leasing opportunities, contact Kim Leone at 212-529-7412.

West Heating Plant

1051-1055 29th Street, NW
60 Four Seasons condominiums and a public park

A partnership group between The Levy Group, The Georgetown Co., and the Four Seasons will redevelop the former West Heating Plant into 60 Four Seasons condominiums and a public park along the historic C&O Canal. World-renowned architect David Adjaye is designing the new building and landscape architect Laurie Olin is designing the public park.

Georgetown Valero Station

2715 Pennsylvania Avenue, NW
29,000 square feet with ground floor restaurant and seven luxury residential units
Anticipated Delivery 2020

Eastbanc, Inc. will redevelop the old Valero gas station site across from the Four Seasons Hotel to bring seven luxury condominiums and a ground floor restaurant space to Georgetown’s eastern gateway. For more information, contact Eastbanc at 202-737-1000.

Domino's Redevelopment

3255-3259 Prospect Street, NW

Demolition of existing Domino’s Pizza
New construction of six residential units

OGB White Paper

The Georgetown BID produced a white paper that analyzes the Old Georgetown Board (OGB) design review process. The OGB is a Congressionally-chartered architectural review board charged with reviewing exterior alterations, demolition, and construction of buildings in Georgetown. The BID produced this paper to better understand the OGB process, identify issues, and explore opportunities to improve the process while maintaining desirable historic preservation outcomes.

Process changes seek to:

• Reduce the number of times projects are reviewed

• Reduce the burden on CFA staff and OGB board members

• Provide greater guidance to applicants

• Simplify the process for small projects

• Improve accessibility of information to the public

The white paper is based on conversations with more than two dozen architects, business owners, building owners, DC Historic Preservation Office (HPO) staff, CFA staff, former OGB board members, and other experts familiar with the process. The BID is convening a working group of stakeholders to make consensus-based recommendations that can improve the process and result in positive outcomes for Georgetown, the District, and the OGB. We invite you to read the white paper and submit your comments to designreview@georgetowndc.com.

OGB White Paper

Regulatory Resources

Georgetown’s regulatory environment can be challenging to navigate. Find resources to understand sign, building, and public space regulations in Georgetown and the different community and regulatory organizations.

Site Selection & Location Decision-Making Support

It’s all about location, location, location. The BID’s annual State of Georgetown report compiles a wide range of data that can support decision makers, including:

• Employment data and industrial sector concentration

• Rental rate and vacancy trends

• Residential demographics

• Visitor profiles and psychographic data

• Hotel and hospitality statistics, including rates and vacancy

• Retail merchandising mix

• Pedestrian traffic patterns

• Traffic and transit counts

The BID can also provide custom research that elaborates on topics presented in the State of Georgetown in order to support a location decision.

Business Formation

Interested in learning how to form and operate a business in DC? Please consult the Washington, DC Economic Partnership’s DC Doing Business Guide.

(Note: The WDCEP is an independent, 501(c)(3) organization that promotes business opportunities throughout DC.)

DC Permits and Licenses

To obtain a city permit, begin by visiting the DC Government website, www.dc.gov, which will direct you to the appropriate agency webpage. For permit advice, contact John Wiebenson, Georgetown BID Director of Operations, at jwiebenson@georgetowndc.com or 202-400-3691.

The moratorium on restaurant liquor licenses in Georgetown expired in 2016. There is no longer a cap on the number of Class C/R and D/R licenses for restaurants and multipurpose facilities in Georgetown. Some restrictions still apply within the Georgetown Historic District. Notably, no more than six Class C/T and D/T licenses (on-premises consumption) may be issued to taverns, and no Class C/N or D/N licenses may be issued to a nightclub.

Liquor License Moratorium White Paper

Historic Preservation in Georgetown

In addition to city-wide building and construction codes, The Old Georgetown Act of 1950 (Public Law 81-808) designated the federal Old Georgetown Historic District and established the requirement for design review of proposed projects in Georgetown by the Commission of Fine Arts and Old Georgetown Board.

Signs, window, door, and storefront replacements, mechanical equipment, visible electrical wiring and lighting, and other changes commonly associated with exterior renovations require review by the OGB.

More Information:

Design Guidelines for Historic Commercial Buildings
Signs, Awnings, Canopies
Sign Regulations
Old Georgetown Board

Need Help?

For more information about Georgetown’s commercial real estate or to update any of the information on these pages, please email info@georgetowndc.com.

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