If you’re a Lowe’s partisan, you have to head out to Largo, New Carollton or Alexandria to get your needed home goods. But now the nationwide home improvement retailer is eying a D.C. location next to the city’s first Costco in Northeast, reports the Washington Business Journal:
Shops at Dakota Crossing will feature more than Costco. Fort Lincoln New Town Corp. has locked in a Lowe’s home improvement store for the space that Target was once going to take.
Multiple sources familiar with the deal say Charlotte, N.C.-based Lowe’s Cos. Inc. (NYSE: LOW) will occupy a 130,000-square-foot building at 33rd Street and South Dakota Avenue NE. Target was, until late 2011, slated to occupy 136,000 square feet on the same parcel. But Target backed out, and it has taken some time to find a replacement anchor.
Claiming Lowe’s would be but another step in the city’s plan to stop the $1 billion in annual retail leakage, or local shoppers that head to Maryland and Virginia for big box retailers. The Shops at Dakota Crossing, where the recently opened Costco is located, has the additional benefit of luring in Maryland commuters headed in or out of the city.
Martin Austermuhle