As discussed a few times over the last couple days, GM recently finished his annual survey of stores in Georgetown (again, just for reference sake, “stores” in this context means stores, restaurants, salons, etc.; basically any commercial space except pure office space). He’s sliced and diced the numbers and is ready to serve them up.
This year GM counted a total of 510 stores in Georgetown. This is a drop from the 527 he counted last year. As noted last week, this doesn’t mean Georgetown lost a net of 17 stores; it’s a bit worse than that. That’s because every year GM counts a few more stores that he overlooked in previous years.
When you just isolate out the openings and closings, the situation looks a lot worse. There were 78 closings in Georgetown in 2011. That compares with a total of 43 closings from the year before, and 47 the year before that. That’s a 81% increase in store closings. Put in context: 15% of stores open in February 2010 are now closed.
You might think that the gutting of the mall is causing this increase, but that’s not the whole story. Yes, 38 of the closings were in the mall (compared with only 16 the year before) but that still means that 40 non-mall stores closed. Last year only 27 non-mall stores closed. That’s a 48% increase.
The good news is that there was a corresponding increase in openings to somewhat offset this gloom. There were 43 openings in 2011. That compares with 30 the year before, and 22 the year before that. So that means there were almost twice the number of stores opening in 2011 than in 2009. That’s some good momentum.
But there are still more new vacancies now then there was a year ago, 35 to be exact (to make the total number of vacancies 117). That’s an increase in vacancies of almost 300% over last year’s 13 net loss. This increase probably can be mostly attributable to the mall. Thus the overall story is that the pace of turnover (i.e. old stores being replaced by new stores) increased from 2010 to 2011, but the spike in vacancies in the mall means the net losses are way up. Continue reading
It’s that time of year again when GM goes around counting up all the stores in Georgetown and determining what closed, what opened, and what’s still around. While GM is still doing some slicing and dicing to give you a full picture of the scene, today he’s going to simply list all the stores that closed and all the stores that opened between now and 12 months ago.
There were 77 shops that closed between last year’s check and this year’s. They were:
- Einstein Bagels
- Altezze/Gore Dean
- For Your Home Décor
- Sixteen-Fifty Nine
- Georgetown Café
- Erwin Gomez
- Washingtonian Gas
- Claude Taylor
- National Jewelry Center
- Big Planet Comics
- Gallerie Anatolian
- Reiss London
- Ed Hardy
- Georgetown Fine Jewelry
- Prince Café
- Hunan Chinese
- Aditi Indian Cuisine
- Morso Express
- Club Monaco Continue reading
This is the time of the year when GM goes out and does an audit on all the stores in Georgetown. He walks up and down all the streets and notes whether a store is still open, or if it closed, or if the space is still vacant, etc. And while there was a whole lot of activity in 2011, both on the openings and closings side, it turned out to be a net negative year for the neighborhood. GM will have a long post slicing and dicing the numbers next week, but here’s a preview.
In 2011, GM counted 530 stores in Georgetown. (For the purposes of this exercise, a “store” is a shop, restaurant, salon, etc. Basically any commercial establishment except purely office space). This year the total tally is 509. And the reduction of 21 stores is probably slightly worse than it sounds because every year GM adds some more shops to his list that he overlooked in previous years. In fact GM counted 96 closings and 40 openings, which would suggest a net loss of 56 stores, or 10.5%. It’s worth noting that the closings were highly concentrated in the mall. Continue reading
Stores close in Georgetown all the time. When you have a retail district of over 500 stores and restaurants, even a very low failure rate would still result in a dozen or so closings a year. But GM has noticed that over the last six months or so, the closings have been more notable. Whether it’s Commander Salamander closing in January after 30 years, the Bonino-era Griffin Market closing in February, or Garrett’s closing after more than 30 years just last week, each has been a big loss.
And maybe they’re such a loss that it just broke your heart for Georgetown. GM felt that way as Nathans closed, and he’s still sad about it. But what about you? What stores or restaurants are open now, but whose closing would just truly break your heart, and just turn you off the neighborhood, at least for a while? Continue reading
Tuesday, GM reported on his annual survey of stores in Georgetown. Today, he thought people might be interested in actually seeing that list of 527 stores (actually, make that 530, since GM realized he left out Village Hair Design, the Ralls Collection, and [blush] Scheele’s Market).
So here you go:
|First Cash Pawnbroker
|R&G Pop Up Shop
|P.O. Boxes Etc.
|H.A. Gill Realtors
|Miller & Arney
||Restaurant Continue reading
Photo by twofivesevenzero.
Every January, GM walks up and down the streets of Georgetown updating his database of the stores of Georgetown. He started this two years ago by simply scribbling down on a notepad every establishment on M and Wisconsin. Last year, working from an established list GM could take the time to expand the scope a little more and make sure to get all the stores on Wisconsin and M as well as those just off. Well this year GM went whole hog. He gathered a list of every single establishment in Georgetown. From Le Petite Corner Store to Jean Pierre to Tony and Joes to Jack’s Boathouse.
And what’s the grand total? (drum role) 527. That adds exactly 100 stores over last year’s tally (that doesn’t mean there are 100 new stores, of course, it just means GM counted 100 more. Some are new, some were just off GM’s scope last year).
Here’s how those numbers break down:
Independents Vs. Chains:
GM first started surveying stores in Georgetown to get a sense of just how many stores are independent and how many are chains. The first set of numbers surprised GM. Of the establishments on Wisconsin and M, 70% were independent. Last year’s survey found almost identical results.
As of today and including all establishments, the number is a tad higher: 73%. That makes sense, since a lot of the new stores that GM captured are off of the main drag and thus more likely to be independent.
Chains represent 26% of establishments. The last percentage or so are regional chains (e.g. Five Guys).
As he’s done in the past, this year GM again took at look at how those percentages look like when one considers only stores within one block of Wisconsin and M. Not surprisingly, the chain percentage goes up. However, as in past years, they still can’t crack 50%. Right now, chains make up only 41% of establishments within one block of M and Wisconsin. Continue reading
As a follow up to Tuesday’s survey of Georgetown shops, GM wanted to publish a complete list of all the stores and restaurants that closed and opened in Georgetown in 2009:
The dearly departed:
- Curry Club
- Linen Press
- District Fine Arts
- Georgetown Electrolysis
- Bella Mama
- Custom Tailors
- Stitch DC
- Tip Top Cleaners
- Philadelphia Cheesesteak Factory
- Linge Roset (Supposedly going to reopen in Georgetown, but for now GM will continue to call it closed.)
Modern Lounge (Still open) Continue reading