GEORGETOWN: EastBanc & Jamestown Secure Long-Term Lease for Kit & Ace in Georgetown
Pioneering Technical Cashmere Clothing Brand to Open New Storefront on M Street.EastBanc, Inc. and Jamestown LP announced today that Kit & Ace, the innovative clothier of men’s and women’s technical cashmere attire, signed a 10-year lease to occupy the 6,500-square-foot retail space at 3263 M Street, NW. Located in the Levi’s Store retail space, this will be Kit & Ace’s third DC-area location with plans to occupy the Georgetown site in first quarter 2016 with a grand opening slated for this summer.
With the mantra “feel as good as you look, coffee time to closing time,” Kit & Ace is the purveyor of functional and fashionable technical cashmere clothing geared for active lifestyles with fabrics that are the best of both worlds; comfortable and practical, stylish and luxurious.
Committed to producing clothing that is durable yet sophisticated, store founders Shannon Wilson and JJ Wilson, were inspired by the practicality and wearability of Lululemon Athletica products (JJ Wilson’s father, Chip Wilson, is the founder of the renowned yoga clothing company Lululemon and Shannon is Chip’s wife). Kit and Ace creates stylish clothing with the all of the wearers’ everyday needs in mind. The brand’s mission is to provide people with apparel that allows them to do their most important tasks throughout the day; its trademarked “technical cashmere” design incorporates easy care, and chic cozy trends into one thoughtfully crafted product.
“We are pleased that exciting new brands such as Kit & Ace continue to seek out Georgetown as a prime retail location,” said Philippe Lanier, vice president of EastBanc. “The brand adds to the fabric of the retail district, embracing a trend that appeals to an active customer who desires a combination of cutting fashion, comfort and function. We believe this brand will appeal to the diverse demographic of Washington. We are delighted to have Kit and Ace join the Georgetown Renaissance portfolio, and the revolutionary brand will fit perfectly into this upscale DC shopping district.”The Kit & Ace retail space is a prime commercial property located in the heart of Georgetown and will add a trailblazing fashion aspect to the distinguished designer brands already located in the historic M Street corridor and round out the retail quarter as DC’s epicenter of modern fashion, furniture and lifestyle goods. The Kit & Ace lease agreement is part of the wave of leasing activity in the EastBanc/Jamestown Georgetown Renaissance portfolio, including recent deals with luxury fashion retailers Rent the Runway, Calypso St. Barth, Intermix, Bonobos and popular home goods brands Calligaris, and Circa Lighting.
The EastBanc and Jamestown Georgetown Renaissance portfolio is a unique collection of high-end retail properties in one of Washington, DC’s premier retail locations. The portfolio also includes boutique office space and 16 luxury rental apartments. Georgetown Renaissance consists of more than 300,000 square feet across 17 properties in Georgetown and one property in Alexandria, Virginia, and it includes the area commonly referred to as Cady’s Alley. The two companies are working on an additional 30,000 square feet of new leases within the portfolio.