Home Depot Terminates DC Lease, Reconsiders Location

WASHINGTON, DC-Home Depot has terminated its lease to open a store on 4500 Wisconsin Ave. NW. The Atlanta-based retailer is still considering the former Hechinger’s site, but wants more time to study the property.

The 180,000-sf urban site poses several challenges for the retailer, which has to navigate the limitations of the building, the small two-acre site, zoning regulations and its own financial considerations. It is one of the few multilevel buildings the chain has ever considered for one of its stores.Home Depot leased the store in July, but backed out in August.

The building’s owners, a partnership of Madison Marquette, which is a partner firm in Madison Retail Group Capital Guidance and Roadside Development, say other retailers are also inquiring about the property.The partnership bought the building in January for $17 million.