SOUTHEAST SNAPSHOT, MAY 2004

Washington, D.C. Retail Market

David Ward President H&R Retail

The Washington, D.C., retail market continues to expand due to explosive residential growth, particularly in Loudoun, Prince William and Stafford counties in Virginia. This growth is creating new opportunities for grocery-anchored centers, as well as the creative redevelopment of infill properties into lifestyle projects, according to David Ward, president of H&R Retail.

Significant developments in the area include:

• Fairfax Corner — This center is providing a real “town center” sense of community for Fairfax County by integrating entertainment, retail and restaurants in an attractive, enjoyable setting.

• The cluster of new developments in Friendship Heights, Maryland, consisting of The Collection of Chevy Chase and Wisconsin Place (with its new Whole Foods). After years of planning, these projects are now under construction and are setting the bar for high-end retail in Washington, D.C.

• D.C. USA — Located at 14th and Park streets NW in the District, this 500,000-square-foot project is scheduled to be anchored by Target, Bed Bath & Beyond and other box type retailers. It will bring much-needed value-oriented shopping options to urban Washington, D.C.

Some of the more active retail developers in the area include The Peterson Company, Regency Centers, Edens & Avant and JBG Rosenfeld. There have been a few new retailers to the area, including L.A. Fitness, Consolidated Theaters, Wegman’s Grocery Store and Havertys Furniture.

“The majority of development is taking place in Loudoun, Prince William and Stafford counties, and Howard County, Maryland, due to explosive residential growth,” says Ward. “For example, in a recent study, Loudoun County led the nation in residential population growth.”

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