Mint Closes Union Station Sales Kiosk|
September 17, 2013
The U.S. Mint will close its sales kiosk at Union Station in Washington, D.C., at the end of September.
Rising rent and the changing nature of the people passing through the building were cited as reasons for taking this action.
This leaves just the sales kiosk at Mint headquarters, 801 9th Street N.W., as its sole sales point in the District of Columbia.
Losses at the kiosk left the Mint facing a five-year rental commitment at $180,000 per year, or $1,500 a square foot each year for 120 square feet. This compares to $200 a square foot when it opened in 1991.
Besides the escalation in cash rents, there were signage restrictions, no opportunity to expand and other issues such as security, staffing and property management.
The Mint is now looking for a new site that would provide a more efficient retail space in the national capital region, said Tom Jurkowsky, the Mint’s public affairs director.
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