WASHINGTON, DC-So far so good for Penzance and Dune Real Estate Partners LP, joint owners of 1101 Connecticut Ave., NW in the Golden Triangle. Dune bought out Penzance's partner in the property last September when Penzance's former partner decided to exit its investment. Now, a new tenant is moving in--LA Fitness is taking over the Results Gym there. Admittedly it is just one data point, but it adds to a welcome mosaic of such data points—namely retail is quietly blossoming in the District.

Earlier this week we reported that Columbia Property Trust inked nearly 2 million square feet of leases in 2013 across its national portfolio. For locals, the property of interest is Market Square, a 679,710-square-foot complex at 701 and 801 Pennsylvania Ave., which consists largely of office space. In the last year, the REIT announced a "substantial majority of the retail vacancies at this complex were leased, significantly enhancing the property's amenity offerings."

The most ambitious news from this space is, of course, our report this morning that one of first Walmart stores in the District reportedly changed hands (via the Washington Business Journal).

The JBG Co. has sold 77 H St. NW, a mixed-use property that includes a 73,000-square-foot Walmart store, to Clarion Partners.

All of this follows a very health 2013 for retail in the District. Some 400,000 square feet of new retail space opened in the city last year and there is another 700,000 square feet in the pipeline. The new retail offerings include two Walmart stores, H & M at Chevy Chase Pavilion, Marshall's at the National Shops, TJ Maxx/ Home Goods at Georgetown Park, Nordstrom Rack at 18th & L Streets and Giant Food at CityMarket at O.

Instant Insights /

The Quickening Pace of DC Retail

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