Tuesday, August 14, 2012

Morning Real Estate Review

Costar report shows more DC retail needed even after Wal-Mart (Washington Post)  According to a new report by Costar, Washington D.C. proper is underserved by retailers - especially grocery stores - with 1 out of every 3 dollars spent on groceries by DC residents going outside the District, meaning that Wal-Mart won't harm DC retail.

Ivy City fights Gray's plan to create bus depot (Washington Post) One of the poorest neighborhoods in the city doesn't want DC's junk anymore and has filed a lawsuit.

Office vacancy rates in Arlington on the rise (Sun Gazette)  The rest of the U.S is also seeing higher commercial vacancy rates, leading to higher taxes for homeowners.


Office Space Lisle on Aug 14, 2012, 11:50:00 AM said...

It is surprising to read that most groceries are still purchased outside of the district with a walmart around. Maybe this is because of an organic food trend? Or are there other factors I might be overlooking?

Anonymous said...

I live near Potomac Yard in Alexandria, and when I'm there I'd say the license plates are split about 1/3 DC, 1/3 Maryland, 1/3 (maybe slightly more) VA. I don't think they're going to Shopper's Food Warehouse and Target for organic food.

Anonymous said...

For one thing, I typically find (outside of rush hour) it's much easier to get out of DC and into VA, then get around inside of DC (with my car). DC's battle against the automobile (removing "extra lanes", speed cameras set artificially low) results in my doing most of my shopping in Virginia. I also live fairly close to 395/695 (cap hill area).

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