Letters To the Editor: Rent Requirements Rough on Retailers in Georgetown
By • August 1, 2017 0 454
I am very pleased to see the approach and concerns of and for our magnificent town. I absolutely agree with the the assessment and point of view Titus Johnson in his Letter to the Editor in the July 12th Georgetowner. Here are my two cents as one of the oldest surviving mom and pop retailers in our town. We can do better, and we must. However, as great as landlords are, there are many factors affecting the landscape in our town. We have banks and convenience stores dotting Wisconsin Avenue because commercial brokers want tenants who are able to obtain 10- or 20-year leases. We tried expanding our business, and this preference is what we found we were up against as a successful local business. There also are rent clauses called triple net. I can assure all that can be burdensome on most small businesses if the retailer is liable for roofs, garages and HVAC. This causes another loss when filling taxes and have an adverse affect when asking loan extensions with banks. I strongly believe Georgetown could have a very hard coming back — just as the Adams Bank property across the street from Everard’s took a long time to lease because of exorbitant rents.
— Louis Everard, Everard’s Clothing, 1801 Wisconsin Ave. NW
