Published May 2003

Retail development continues strong

By Eric Fetters
Herald Business Writer

While the economy stutters, there seems to be no slowdown in the retail development sector.

From new strip malls to large supermarkets, a number of retail-oriented projects are under way across Snohomish County. That’s not counting the massive addition at Alderwood Mall and expansion plans in the works for Everett Mall.

There are a few good reasons. First, stores follow population growth. With new neighborhoods and housing developments springing up across the county in recent years, retailers see an opportunity.

Snohomish County is not alone in the retail construction trend.

“There seems to be quite a bit of development going on, especially in the grocery sector,” said Susan Zimmerman, a vice president specializing in retail with Insignia Kidder Mathews. “Even with the economy, a lot of the goods and services still have to be served, and retailers see that.”

There’s still heavy demand for retail space. As of last year, more than 96 percent of the retail space from Bellevue to Mount Vernon was filled, according to First Western Properties in Kirkland.

That firm is marketing spaces at the Silver Lake Plaza, which is under construction on vacant land just west of the intersection of Highway 527 and 116th Street SE.

That development, being built by PugetWest Construction of Arlington, will consist of 12 to 16 retail storefronts, said Jerry Forell, an associate broker with First Western. It’s scheduled to be completed by August.

Forell said he’s still fielding calls from prospective tenants.

“We have some signed up, but also have interest from a lot of people who want to be there,” Forell said.

Rick Fletcher, owner of PugetWest, said retail-oriented projects such as Silver Lake Plaza have helped at a time when industrial and office space construction is slow.

“We’re keeping busy,” Fletcher said. “We’re looking at preliminary plans for some other retail projects as well.”

A couple miles southeast, several businesses are now open in the Buffalo Square development along 132nd Street SE, with more to come.

Stewart Robertson, developer of Buffalo Square, said a 7,000-square-foot retail building is planned for the center of his project, which includes the already-completed Kinder Care and Mieko’s Fitness Club.

A large store planned for the vacant land across the street from Buffalo Square is still in the planning stages, according to Lynnwood-based Gramor Development.

Other retail projects are under development along Highway 99 north of Lynnwood. A new shopping center at Thrasher’s Corner, where a Walgreen’s store recently opened, is still under development.

In Arlington, land clearing is starting for the long-planned Haggen Foods supermarket at the intersection of Highway 9 and 204th Street NE. That store will be about 60,000 square feet, according to Haggen’s spokeswoman Stacia Kirby. Another supermarket is planned as part of the Monte Cristo Marketplace in Lake Stevens, which also will include smaller spaces for shops.

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