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Metropolitan DC Local Politics
Reply to "What are the commercial lease rates are at Friendship Heights?"
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[quote=Anonymous]The rates were high at Chevy Chase Pavilion but lower in the neighborhood than at City Center. It’s not so much the rents right now, these are corporate decisions and mostly driven by a national change in retailing. Department stores aren’t doing as well because of online shopping. Friendship Heights then lost a concentrated mix that draws the high end shoppers, who are choosing other neighborhoods like City Center. Georgetown isn’t doing well either. Then this was before covid devastated all of it. The only thing doing decent now are grocery anchored centers, drugstores and medical retail.[/quote]
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