Everett Mall Sold

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marshd1000
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Everett Mall Sold

Post by marshd1000 » October 6th, 2017, 11:07 am


SamSpade
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Re: Everett Mall Sold

Post by SamSpade » October 6th, 2017, 12:34 pm

Interesting that Macy*s closed their store but retained the real estate. The property does have good I-5 visibility; it reminds me of Lancaster Mall in Salem, OR.

Brian Lutz
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Re: Everett Mall Sold

Post by Brian Lutz » October 10th, 2017, 5:19 pm

I don't think Everett Mall has ever struggled quite the same way that some of the other second-tier malls in the area have (Factoria, Totem Lake, The Commons at Federal Way, etc.) but it doesn't exactly seem to be thriving either. I imagine they took a hit from the loss of the Macy's store earlier this year, and will probably be losing their Sears store when they inevitably go down the tubes as well. Assuming redevelopment is in the cards, I imagine they'll demolish the enclosed part of the mall and build something somewhat similar to what they're doing with Totem Lake. As is, there's little of much interest in the enclosed part of the mall (which already shrank once when they turned part of it into the Burlington store) and most of the major stores are either disconnected from the main mall completely or accessible only from the outside anyway. They have a pretty decent amount of space to work with (fairly large parking lots on the outside that mostly get used as Park and ride space now) and some fairly busy strip mall type stores on the southern part of the property (Best Buy, Petsmart, Bed Bath and Beyond, TJ Maxx and a couple other smaller ones).

It'll be interesting to see what comes out of this, but I'm not holding my breath.

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Re: Everett Mall Sold

Post by Super S » October 11th, 2017, 12:32 pm

Brian Lutz wrote:
October 10th, 2017, 5:19 pm
I don't think Everett Mall has ever struggled quite the same way that some of the other second-tier malls in the area have (Factoria, Totem Lake, The Commons at Federal Way, etc.) but it doesn't exactly seem to be thriving either. I imagine they took a hit from the loss of the Macy's store earlier this year, and will probably be losing their Sears store when they inevitably go down the tubes as well. Assuming redevelopment is in the cards, I imagine they'll demolish the enclosed part of the mall and build something somewhat similar to what they're doing with Totem Lake. As is, there's little of much interest in the enclosed part of the mall (which already shrank once when they turned part of it into the Burlington store) and most of the major stores are either disconnected from the main mall completely or accessible only from the outside anyway. They have a pretty decent amount of space to work with (fairly large parking lots on the outside that mostly get used as Park and ride space now) and some fairly busy strip mall type stores on the southern part of the property (Best Buy, Petsmart, Bed Bath and Beyond, TJ Maxx and a couple other smaller ones).

It'll be interesting to see what comes out of this, but I'm not holding my breath.
I visited the mall several years ago. It struck me as a mall that wasn't a destination, but had more of a role to serve the local community. It seemed to have a decent amount of customers at that time.

With some of the traffic issues Seattle has, there are people who prefer local options. Closing a Macy's here doesn't necessarily mean they will go to the next closest store.

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Re: Everett Mall Sold

Post by Brian Lutz » October 11th, 2017, 4:25 pm

To be fair, the nearest Macy's store to Everett Mall is less than 10 miles away at Alderwood, so it's not that far away (basically you have Alderwood, Southcenter, and Northgate; Bellevue Square fits in there somewhere as well but keeps moving further upscale and is now mostly occupied by luxury retailers.) Macy's big problem seems to be that they are stuck somewhere between the bargain priced retailers (Kohls, JCP, Target, Wal-Mart, etc. ) And the high end stores (Nordstrom, Bloomingdales, etc) and can't seem to draw much interest from either side. Everett is still very much a blue collar town, but the middle class is starting to get priced out of the area, so there isn't much demand for their products.

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