Sustainable Cashmere Brand Opens First DC Store in Georgetown
Naadam, a sustainable cashmere and knitwear brand, will open its first Washington, D.C., store in Georgetown this fall.
The opening is being facilitated by Leap, a startup based in New York and Chicago that builds and operates brick-and-mortar locations for digitally native brands in popular cities and neighborhoods.
Through Leap, Naadam will take 1,500 square feet at 3003 M Street NW, a three-story building owned by EastBanc that contains both office and retail space. The lease is for five years.
“Georgetown has recently seen amongst the strongest foot traffic and sales demographics of the past seven years, so we expect continued interest from other brands to our market,” Philippe Lanier, principal at EastBanc, told Commercial Observer. “The space itself is one of the few small-format spaces under 2,000 square feet within the market, which attracted this particular brand. When locations of that size become available in the market we usually see great competition for the space.”
Founded in 2013, Naadam offers cashmere clothing, accessories, blankets and home goods. The company will use the space to bring its latest products to market.
EastBanc has signed more than 64,000 square feet of retail space in Georgetown this past year, including recent leases with Glossier, Avocado Mattress and Everlane.
“Introducing new retailers adds valuable diversity and co-tenancy to the market, encourages recurring and new foot traffic, and challenges the merchandise mix of other retailers in the market,” Lanier said. “Importantly, our lease structures create flexibility for these evolving brands to pivot their space needs within our market.”
Tucker R. Crockett of Rohrer Realty Partners represented Leap in the transaction, while EastBanc represented itself.
Keith Loria can be reached at Kloria@commercialobserver.com.