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Barnes & Noble is turning a page on its history and heading back to Washington, D.C.’s Georgetown neighborhood, the company announced.
After leaving the area — and the same building — in 2011, the book giant inked a 33,754-square-foot lease for three floors at 3040 M Street NW.
“We couldn’t be more pleased to return to Georgetown,” James Daunt, Barnes & Noble’s CEO, said in a prepared statement. “There is no better example of the changing fortunes of physical bookstores, and Barnes & Noble specifically, than to reopen in this magnificent building at the heart of Georgetown.”
The 48,773-square-foot building is owned by a joint venture between Cara Real Estate and Lincoln Property, which acquired the property in 2019 from Vornado. At the time, the space was occupied by Nike, whose lease was slated to end in 2022, though it had options to extend, according to the Washington Business Journal.
Instead, Nike left the building in early 2023 with hopes of moving to a smaller space down the block at 3235 M Street. However, those plans were ruined when Aerie surprisingly extended its lease with owner EastBanc earlier this year until 2031.
“The Georgetown market has experienced a renaissance following COVID with many new brands and a lower vacancy rate than prior to COVID,” David Dochter of Dochter & Alexander, which represented the owner, said in a prepared statement. “It demonstrates that we can continue to be bullish about this market as a walkable vibrant neighborhood with a strong projection of success.”
The new store will showcase books, toys, games and gifts, and will have an in-store café.
Adam Miller and Tom Maddux of KLNB represented the tenant in the lease, while Matt Alexander and Laura Bellantoni joined Dochter in representing the landlords.
Keith Loria can be reached at Kloria@commercialobserver.com.
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