A retail concept that combines a barbershop with a cocktail bar is continuing to grow its presence in the D.C. area.
The Kansas City-based retailer, founded in 2015, combines a fully stocked cocktail bar with a men's barbershop. Haircuts start around $54 and include one complimentary cocktail, with additional cocktails costing around $13. The retailer offers memberships for discounts and events.
Cresa Vice President LaMean Koroma represented the tenant and is helping it expand in the region. Scissors & Scotch signed its first D.C. lease in July in the National Association of Broadcasters building in Capitol Riverfront.
The retailer expects to close a third deal next week at Jefferson Apartment Group's J Sol building in Ballston, Anderson said, adding that it is also working on deals in Reston, Vienna and Loudoun County.
In July, Anderson told Bisnow he planned to ultimately open 10 locations in D.C. and Northern Virginia. He has now increased that goal, saying Friday he plans to expand to suburban Maryland and open as many as 20 locations in the region.
"D.C. is small in terms of the size of the city. There are limited real estate opportunities, and so we've got to be ready to pounce on these opportunities when they arise," Anderson said. "It becomes the redeveloping areas that are growing into live-work-play environments and adding thousands of apartments and condos within walking distance to our shops."
The first two neighborhoods Scissors & Scotch is entering, NoMa and Capitol Riverfront, are among the fastest-developing areas in the District. Anderson said he expects the Capitol Riverfront location to open by February, and the NoMa location will open by April.
The Press House development at Third and N streets NE sits less than a half-mile from the NoMa Metro station and Union Market. Foulger-Pratt in June signed Hickok Cole to a 25K SF lease in the project's office component, and it is also building 356 apartments, expected to deliver next year.
Given the challenges the retail market is facing today, Koroma said launching an expansion across the region is allowing Scissors & Scotch to land tenant-favorable deals. He said he has gotten frequent calls from developers with available retail space asking if Scissors & Scotch would be interested.
"The concessions have been tremendous, and the positive note on what's happening is everyone is in deal mode," Koroma said. "Everybody wants to make a deal, and it's a win-win situation. Landlords are happy to do this because you get a concept that not only do you know will be successful, but you see it as a value-add and an amenity to the project."