The Georgetown Metropolitan broke the news today that the Georgetown Barnes & Noble is closing. Their lease ran out, the landlord bumped up the rent, and so another one bites the dust. Up Wisconsin, Room With A View is also closing. And today, three years after signing the lease, Brooks Brothers began the process of moving merchandise into the space at the corner of 31st and M Streets.
This anonymous entry was posted on GM's comments. The writer sounds informed, for better or worse. I don't thrill to the idea of a larger H&M or a Target, even if a smaller Target. And Forever 21? Whaaa?
"B&N is slowly but surely getting out of the superstore biz nationally. They are closing stores all over the US. At the M Street store, the lease actually expired several months ago (I believe back in Feb.). Right now they are hanging on until the G’town Park project starts. Vornado owns the B&N site as well as Georgetown Park. My understanding is that one of the name tenants at the mall will move to the B&N space (probably H&M). At the same time a number of big deals are in the works for the mall — I believe that the Bloomingdales deal is still on as well as a very large Forever 21 (almost 70,000 sf) and a more modest (for them) Target (80,000 sf). As for B&N it is a sad shadow of its former self — frankly the days of 30,000+ sf bookstores are gone. Look at how much shelf space is devoted to non-book items like toys and gifts. This is really a back to the future moment where small (well run) independents like Politics and Prose, Kramers, Bridge Street, etc. will once again dominate the bricks and mortar book retail market. B&N will probably be unrecognizable in five years — if it even still exists."