Retail Spaces for Sale in the Washington Metropolitan Area
Retail spaces for sale are a hot business in the Washington Metropolitan area. And why not? With a booming economy and commerce galore, there’s an ever growing need for storefronts and other sales-related spaces throughout the region. From indie boutiques to mega-malls, Washington Metro is known for its diverse and highly popular shopping experiences.
Job market watchers have reported a steady increase in retail employment since 2008. At the same time, vacancy rates for retail spaces keeps declining. In other words, there’s a bit of a real estate crunch for this particular marketplace. And with studies forecasting the continued growth of various sales sectors, the challenge will be to develop more available commercial space.
Retail Spaces for Sale in the Washington Metropolitan Area
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Fortunately, the very nature of the greater DC region plays into an unusually wide array of options when it comes to space that can be used for retail purposes. Historic buildings provide numerous opportunities for the restoration and adaptive reuse. Yet at the same time, there is also a natural evolutionary process with brand new construction, including large infill projects that increasingly maximize available footage.
Retail spaces for sale in the Washington Metropolitan area can be found in an incredibly wide array of locations, including DC itself, Northern Virginia and parts of Maryland. Just a tiny sampling of red-hot shopping areas would include Georgetown, the Penn Quarter and Downtown DC in the nation’s capital, Old Town Alexandria, Crystal City, Fashion Centre and Tysons Corner in NoVo, and Bethesda and National Harbor in Maryland. There are hundreds of other great locations of course—DC Metro is a retail paradise!
So what is the advantage of retail spaces for sale in the Washington Metro area, rather than those for lease? It’s about investing—for now and for the future. Owners begin to build equity immediately while having the option of either using the space for their own means or renting it out for income. Commercial properties in the region have continued to trend upward in recent years and there doesn’t appear to be any end in sight.
