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Most observers agree, though, that Georgetown's retail market is expanding
Coming debuts include clothier Brooks Brothers, which is opening a 20,000-square-foot store in September, men's store Jack Spade and Williams-Sonoma Inc.'s West Elm furniture division, soon testing the market with a store on a six-month lease.
"Ten years ago, Georgetown was a mom-and-pop market," said Michael Zacharia, a senior vice president in Washington for brokerage C.B. Richard Ellis Group Inc. "Now, we see national brands in the market and luxury brands looking to enter."
The evolution of Georgetown's retail market mirrors others, like Denver's Lower Downtown and Seattle's Capitol Hill, where populations are returning to downtowns for shorter work commutes and smaller homes in renovated buildings and towers. Retailers, in turn, are chasing the higher incomes and density that result from that trend. In some cases, that results in concerns national retailers are displacing local, independent shops that may make a given urban neighborhood unique.
Some brokers and property owners, including Mr. Lanier, say chains are taking a larger share of the market. However, Jim Bracco, executive director of the Georgetown Business Improvement District, said independent stores still account for three-quarters of the neighborhood's retail market.
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