Golden Triangle

Market Data

Keeping Tabs on the Golden Triangle Market

To better promote economic development within the Golden Triangle, the BID tracks and analyzes a variety of data, from foot traffic to market demographics and more. The numbers speak for themselves—not only is the Golden Triangle a great place to work, visit, and shop, but it’s also continually changing and improving. Keep tabs on the latest information about the BID by exploring the data and research here, signing up for the BID’s newsletter, and following the Golden Triangle on LinkedIn.

2024 Year in Review

The Golden Triangle is transforming and becoming increasingly mixed-use with multiple residential and hotel conversions completed or under construction. Plus, plans for conversions have been announced for several more buildings. In total, 18 properties were sold in 2024, with a sales volume of $702 million.

At the same time, two-dozen new retailers moved in that serve the office, residential, student, and tourist populations. University presence downtown continues to increase while traditional industry sectors, such as law firms, remain active in the market. Office moves filled more than a million square feet of space in the neighborhood. Notably, two major Silicon Valley venture capital firms located in the Golden Triangle in 2024 and are helping grow DC’s tech ecosystem.

Last year, 24 retailers and restaurants opened their doors in new locations in the Golden Triangle. Plus, 2024 brought in two retail pop-ups: Rent the Runway, selling pre-loved designer fashions at 1140 Connecticut Avenue NW; and Carpe Librum, a used-book store at 1901 L Street NW.

DELIVERED: Office to Residential Conversion
1111 20th Street NW
Elle apartments

DELIVERED: New Office Building
1700 M Street NW
17XM

DELIVERED: Office to Hotel Conversion
1312 18th Street NW
Maison Dupont Hotel

PLANNED: Office to Residential Conversions

  • 2100 M St NW
  • 2141 K St NW
  • 1201 Connecticut Ave NW
  • 1133 19th St NW
  • 1735 K St NW

PLANNED: Office to Hotel Conversions

  • 1776 K Street NW
  • 1337 Connecticut Avenue NW

Two New Venture Capital Firms

Prominent Silicon Valley venture capital firms are locating in the Golden Triangle and helping to grow the tech ecosystem:

  1. Andreessen Horowitz (a16z) –  800 17th St. NW
  2. The Westly Group – 1701 Rhode Island Ave. NW

New Office Tenants 

Office moves by organizations in a range of sectors resulted in leasing of more than 1.15 million square feet of office space in the Golden Triangle.

Top 10 Sectors of Activity
(Square footage is approximate)
  • Law firms moved into 494,500 SF
    • 164,000 SF by Gibson Dunn & Crutcher LLP at 1700 M St NW
    • 81,500 SF by Davis Polk at 1050 17th St NW
    • 65,500 SF by Cozen O’Connor at 2001 M St NW
  • Social advocacy organizations moved into 66,500 SF
    • 38,000 SF by Legal Services Corporation at 1825 I St NW
  • Conservation programs administration moved into 65,000 SF
    • 65,000 SF by U.S. Fish & Wildlife Service at 1625 I St NW
  • Insurance agencies and brokerages moved into 56,000 SF
    • 55,000 SF by Marsh McLennan at 1050 Connecticut Ave NW
  • Portfolio management and investment advisors moved into 28,000 SF
    • 23,500 SF by UBS Group AG at 1700 M St NW
  • Business associations moved into 25,000 SF
    • 17,000 SF by OSI at 1730 Pennsylvania Ave NW
  • Data processing, hosting, and related services organizations moved into 23,500 SF
    • 23,500 SF by Gainwell Technologies at 1111 19th St NW
  • Professional organizations moved into 19,000 SF
    • 10,000 SF by Federation of American Scientists at 1150 18th St NW
  • Civic and social organizations moved into 17,000 SF
    • 7,000 SF by American Financial Services Association at 1750 H St NW
  • Colleges, universities, and professional schools moved into 16,000 SF
    • 16,000 SF by Syracuse University at 1333 New Hampshire Ave NW

Artomatic

In the spring, the Golden Triangle brought Artomatic back to DC after 15 years. Matching the massive arts powerhouse with Post Brothers CRE’s office building at 2100 M Street NW, Artomatic filled eight-floors of former office space with artworks, exhibits, performances, and events by more than a thousand artists. Over the course of seven weeks, approximately 70,000 people attended the show according to Artomatic estimates.

           

Capital Fringe Festival

In July, the Golden Triangle hosted the Capital Fringe Festival for the first time. Blake Real Estate provided four vacant retail spaces on the 1100 block of Connecticut Avenue NW that the Fringe Fest transformed into three theaters and a box office. With the Festival theme of HAPPY, the 80+ performances enlivened the corridor with cheerful energy from more than 7,000 ticket-buyers.

Rorschach Theatre

 

 

Following success in 2023 with two well-received productions in former retail space provided by Lerner Enterprises, Rorschach Theatre staged two more productions in the Golden Triangle in 2024: Human Museum and SLEEPING GIANT.

Torrents

The Golden Triangle worked with CulturalDC to fill Brookfield Properties former retail space at 1140 Connecticut Avenue NW with projections in their storefront windows. During Black History Month and through March, the artistic video captivated passersby with its exploration of the development of Black futures across the African diaspora.

 

Morton Fine Art Gallery

 

 

In October, Morton Fine Art created a pop-up gallery at 1050 Connecticut Avenue NW. The gallery presented Perspectives, a pop-up group exhibition showcasing nine global contemporary artists exploring nature-based abstraction. The exhibition featured innovative techniques and diverse artistic voices from around the world.

AlexCourt_construction

Have Info to Share?

Do you have a tip about an upcoming redevelopment or a retail space you’re about to lease? Let us know so we can add it to our maps and reports.