Monumental Sports & Entertainment has claimed around 75,00 square feet of vacant retail at Gallery Place, spaces formerly occupied by Bed Bath & Beyond and Lucky Strike Lanes, as it advances plans for an ambitious makeover of the adjacent Capital One Arena.
The firm executed the leases late last year, a day before Monumental CEO Ted Leonsis and D.C. Mayor Muriel Bowser revealed detailed plans for an $880 million makeover of Capital One, according to Monumental’s landlord, a joint venture between Global Funds Investments and MRP Realty.
Monumental has also leased another 120,000 square feet of office space, as the Business Journal’s Ben Peters recently reported. That article made reference to an additional 70,000 square feet of retail, but it has not been previously reported that Monumental has leased the former Bed Bath and Lucky Strike spaces. Both deals were executed on the same day, per GFI’s Robert Hoffman.
The leases will help chip away at a much larger block of vacant space in the Chinatown area, which was already bloated heading into the Covid-19 pandemic and has continued to mount since then. At the same time, recent activity from tenants including Chick-fil-A, Raising Cane’s Chicken Fingers and Fuddruckers are helping to move the needle in the other direction.
