The Barnes and Noble in Georgetown is slated to close by the end of this year, the Georgetown Metropolitan reports.
According to the blog, the chain bookstore has lost the lease for its M Street NW location, which will be filled by an unidentified tenant paying $65 per square foot.
A spokesperson from Barnes and Noble confirmed the closure, but did not provide any details about the reason or the terms agreed to by the new tenant.
“The Barnes and Noble was a great ‘third space’ and a wonderful resource for tourists and residents alike,” wrote the Georgetown Metropolitan post, which added that the reported $65 per square foot rent “sounds awfully high.”
But according to real estate agent Nancy Itteilag, rents as high as $70 per square foot along the neighborhood’s main thoroughfares — M Street and Wisconsin Avenue — are not unheard of.
Tell us: Will you be sad to see Georgetown’s Barnes and Noble shuttered? Leave your thoughts in the comments below.