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Five Guys @ Dupont Circle

Posted by Robert on August 13, 2007
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fiveguysblog.JPG Five Guys signed a lease in Dupont Circle at 80.00 NNN for a 2,040 square foot retail space at 1645 Connecticut Avenue NW just north of Dupont Circle next to Cosi cafe. The monthly rent including all passthroughs is over $15,000 per month. The landlord contributed $40,000 toward a buildout estimated to be over $200,000. Retail rents will go only higher in premium micro markets such as Dupont. Retailers continue to compete for premium space driving up rents in a limited supply area. How can a good burger joint survive?