Still more retail potential at City Vista
During the frenzy of Safeway Grand Opening day I hinted at the additional space that is available for lease at City Vista.
With a little help from friends I’ve tracked down more details. There is just shy of 12000 square feet of retail space available for lease divided among 8 “bays”.
Bay C: 1500 sf
Bay G: 2178 sf
Bay H: 727 sf
Bay I: 697 sf
Bay J: 1672 sf
Bay K: 1653 sf
Bay L: 1732 sf
Bay M: 1728 sf
Some potential retailers may be able to work within the confine of one bay. Others may need to combine two or more adjacent bays to create a larger footprint. I believe that Bay C is the City Vista Sales office on 5th Street with the others on K Street. The entrance to the condominiums (475 K Street NW) creates a physical divide between several of the K Street bays – my guess is between bays H & I. If these assumptions are correct, then the maximum clustering of these bays would be 1500 sf, 2905 sf, and 7482 sf. For frame of reference, Nando’s Peri Peri on 7th Street NW is 3100 sf while more upscale downtown restaurants often hover around 8000 sf.
Downtown new construction is often linked at the hip with corporate chains that can afford high rents. This holds especially true of new construction retail spaces that have large footprints. Most small business owners needed to start small before they can sustain enough business to afford a large space.
Lowe Enterprises has shown commitment to filling retail on this project with locally grown businesses like 5th Street Hardware, Results Gym, and Busboys and Poets. I’ve heard they’d like to continue to follow that path. If so it’s less likely that more than two bays will be leased together to one tenant.
Tomorrow I’ll speculate on the types of tenants that would fit well.
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