(For more retail coverage, click GlobeSt.com/RETAIL.)
WASHINGTON, DC-The retail segment of the 470,000-sf mixed-use Woodies Building will become home to West Elm, which signed on for 37,000-sf of space at the landmark property. The store will be the furniture and home goods chain's largest locale, to date.
Details of the tenant's lease with property owner Douglas Development Corp. have not been disclosed; however, retail space is marketed in the building starting at $25 per sf. The city sweetened the deal for West Elm by providing $4.9 million in tax increment financing for the store's construction.
The Woodies Building, which is located downtown at 1025 F St. NW in the city's East End area, was originally developed as the Woodward & Lothrop department store in phases over a 25-year period beginning in 1902. Douglas Development acquired the property in 1998 and began redeveloping the historic facility.
Office tenants include the Federal Bureau of Investigation, the National Endowment for Democracy and the Recording Industry Association of America. On the retail roster, West Elm will join the likes of Swedish clothier H& M, which set up shop in a 27,000-sf space at Woodies in 2003. West Elm will open its doors in spring 2007.
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