Bethesda Businesses Struggle With High Rent, Slow Economy
As Bruce Variety announces its closure, The Gazette reports on the plight of Bethesda business owners, who pay some of the highest rents in the county.
As the community grapples with the upcoming closure of Bethesda institution Bruce Variety, The Gazette reports that many Bethesda businesses are struggling with high rent and a down economy. Owners of Bruce Variety, a 60-year fixture on Arlington Road, announced that they would seek a new location because they could no longer afford the $22,000 monthly rent, Patch reported. Retail rates have risen in Bethesda and parts of Rockville in the last year and a half, The Gazette reported, and businesses along Wisconsin Avenue in Chevy Chase and on Bethesda Row pay the highest rents in the county. In Bethesda, retail space can cost anywhere from $30 per square foot to more than $100 per square foot, according to the report. “We’re all struggling…
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Monique Darvish
11:07 am on Wednesday, January 9, 2013
I so agree with Mr. Smiley. It is a very difficult time for small retailers, as we do not only the high rents to pay, but we have to include health insurance, store insurance, and salaries so that our employees can live. How greedy are developers that they only think of their pocket and no one else? When we called to see if we could get a price reduction on our rent; we were told that they could … more ›