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Nike plans to move to a smaller space in Georgetown

By Nagasunder in Business News, posted June 23, 2022

Nike wants to get rid of its great retail property in Georgetown near M Street and Thomas Jefferson Street - and move two blocks away.

Plans submitted to the Old Georgetown Board show that the sports clothing business intends to relocate roughly two blocks west to a mid-block structure at 3235 M St. NW.

It would relocate from 3040 M St. NW to a location less than one-third the size of the existing unit.

Designs by MBH Architects show the colorful picture of a lady working out that can be viewed from the second-floor front-facing M Street, along with a swoosh.

Nike representatives could not be reached right away for comment.

Both EastBanc, a potential new landlord, and its present landlord, Lincoln Property Co., declined to comment.

As Nike's existing lease nears expiry early next year, the intentions become public.

After Nike missed the deadline to exercise a lease extension option, Lincoln, which bought 3040 M St., advertised the retailer's approximately 33,600 square feet for lease to other potential tenants.

Marketing brochures state that 3235 M St. NW has around 7,700 square feet of that space available. Aerie, a store that rented the location approximately a year ago, would be replaced by Nike. A request for comment from Aerie was not immediately complied with.

Source: Bizjournals

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