Published December 2002

Business Briefs

Frontier Village to get new owner
Frontier Village shopping center is getting a new owner, the result of a merger announced in November between two of the West Coast’s largest real estate investment trusts.

Pan Pacific Retail Properties Inc. announced it had signed an agreement to buy California-based Center Trust Inc., which owns the Lake Stevens retail property and 31 other shopping centers in four states.

Once the $600 million transaction is complete early next year, Pan Pacific will own 138 shopping centers in eight states.

Frontier Village, along Highway 9 near Lake Stevens, is expanding. Safeway is building a larger store, and G.I. Joe’s will move into its old spot. The expanded shopping center, which will have 208,000 square feet when completed, also is set to be renovated, according to Center Trust.

San Diego-based Pan Pacific already owns 13 shopping centers in Washington, including Claremont Village in Everett and Gateway Shopping Center in Mill Creek.

Verizon, Boeing donate to UW-Bothell
The Verizon Foundation and the Boeing Co. recently donated to programs at the University of Washington’s Bothell campus.

Verizon donated $25,000 to a program aimed at helping teachers keep middle school students excited about science and math by designing and programming LEGO robots.

Boeing offered two $1,500 scholarships, one in business administration and another in computing and software systems.

Prolinx to cut staff by half
Prolinx Inc. recently announced that the privately funded company is reducing its staff and restructuring to focus on development of its latest molecular analysis tool.

About half of the existing staff will be laid off, bringing the employee count to fewer than 20, spokeswoman Leslie Linkkila said. The cuts primarily will affect the Bothell company’s sales and marketing departments. The firm also will suspend the marketing of several products.

The reductions will help Prolinx stretch its cash at least a month longer than it otherwise would have lasted. But Linkkila declined to identify specifics about the company’s remaining funds. In July 2001, Prolinx raised $16.8 million from venture capitalists.

After the restructuring, Prolinx is focusing on completing its Acapella molecular interaction analysis system. The desktop tool can analyze up to eight samples and allows researchers to keep track of a wide range of data from the interaction of molecules. The system needs more testing, but it could be on the market by the year’s end.

WorkFirst program earns
bonus from state
The South Snohomish WorkFirst program will receive $16,000 in state bonus awards for helping low-income families find work and leave welfare. The payments were part of $174,000 in awards announced recently by Washington state officials.

The awards are paid annually to WorkFirst local planning areas, which are partnerships of government agencies, nonprofit community organizations and other groups that provide services for the state’s welfare-to-work program.

This is the second year in a row that the South Snohomish office has received bonuses.

Last year’s award money provided services and training not paid for out of the program’s regular budget. That included office equipment, additional training for staff and basic computer literacy classes for clients, according to staff at the South Snohomish office.

State, Port of Everett sign agreement
Officials at the Port of Everett and the state Department of Natural Resources reached agreement in November on management of state lands off port property along Everett’s waterfront.

The port will manage some 47 acres of state aquatic lands under the agreement, which was signed Nov. 13 in Everett by Port Director John Mohr and state Public Lands Commissioner Doug Sutherland.

The port will get to use the property for free as long as the uses are water-dependent. It will pay rent if the property is put to another use. The agreement involves an extensive survey of state aquatic property off the waterfront.

Advantage Wireless stores
hold food drive
In an effort to feed those in need this holiday season, Snohomish County’s five Advantage Wireless locations are offering product discounts for customers who donate canned food.

Partnering with Volunteers of America Western Washington, the program will run through December and benefit needy Washington residents.

“Volunteers of America has been serving Washington communities since 1915, and we’re excited to share in their mission,” said Victor Mitchell, Advantage Wireless CEO.

Hundreds of cans already have been collected since early November, the company reported.

PUD granted strong bond rating
Snohomish County PUD received positive news from the financial community in November when Standard & Poor’s, an independent bond rating agency, upheld the utility’s strong “A +” bond rating.

“We’re very pleased by the rating in that many regional utilities have been downgraded recently due to the volatility within the electric industry,” said Glenn McPherson, PUD’s assistant general manager for finance.

In its initial report, Standard & Poor’s highlighted several factors that led to the positive rating — sufficient power supplies, conservative financial practices and policies that hedge the potential risks of its contracts with the Bonneville Power Administration.

New businesses, locations
n The Candleman store at the Everett Mall has moved to larger quarters. It’s now at the central area of the mall near the information booth. Candleman sells candles, oil lamps and a variety of gift items.

n Strutz Bar & Grill, which features karaoke, has opened at 1805 Hewitt Ave. in Everett. The owner is Jennifer Eutsler.

n A Smart Blonde is the name of a new women’s apparel company based in Arlington. Owner Debra Carroll, a blonde herself, created the clothing aimed at girls and women. The company can be found on the Internet at www.asmartblonde.com.

n A new bicycle courier service, Velocity Couriers, is doing business in Everett. Owner Ron Toppi said he thinks the area is overdue for the service. Velocity can be reached at 425-210-4661 or 425-252-6952.

n Lynnwood resident Angeline Chillihitzia has just opened Five Star ChemDry, a carpet and upholstery cleaning business serving Snohomish County. She can be reached by calling 425-778-4195.

n The Monroe Chamber of Commerce has moved into a new facility, located at 118 N. Lewis St., Suite 112, in Monroe. To reach the chamber, call 360-794-5488 or visit online at www.chamber-monroe.org.

Back to the top/December 2002 Main Menu