Pacific Place Seattle, Ghost Mall

marshd1000
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Re: Pacific Place Seattle, Ghost Mall

Post by marshd1000 »

It looks like there will possibly be a move away from retail to offices at Pacific Place. The remodel probably would have been a success had it been completed before COVID and the riots! It wouldn’t surprise me if Nordstrom closes the Downtown Seattle store and makes Bellevue Square it’s flagship with Pacific Place Dying!

https://www.seattletimes.com/business/d ... fic-place/
marshd1000
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Re: Pacific Place Seattle, Ghost Mall

Post by marshd1000 »

Here’s more details about the redevelopment:

https://www.bizjournals.com/seattle/new ... ffice.html
babs
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Re: Pacific Place Seattle, Ghost Mall

Post by babs »

marshd1000 wrote: May 13th, 2022, 10:43 pm It looks like there will possibly be a move away from retail to offices at Pacific Place. The remodel probably would have been a success had it been completed before COVID and the riots! It wouldn’t surprise me if Nordstrom closes the Downtown Seattle store and makes Bellevue Square it’s flagship with Pacific Place Dying!

https://www.seattletimes.com/business/d ... fic-place/
With Nordstrom's HQ in downtown Seattle, I highly doubt they will close the store. Now if they move their office to Bellevue or substantially downside, then it's a different situation.
storewanderer
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Re: Pacific Place Seattle, Ghost Mall

Post by storewanderer »

babs wrote: May 15th, 2022, 10:09 am
marshd1000 wrote: May 13th, 2022, 10:43 pm It looks like there will possibly be a move away from retail to offices at Pacific Place. The remodel probably would have been a success had it been completed before COVID and the riots! It wouldn’t surprise me if Nordstrom closes the Downtown Seattle store and makes Bellevue Square it’s flagship with Pacific Place Dying!

https://www.seattletimes.com/business/d ... fic-place/
With Nordstrom's HQ in downtown Seattle, I highly doubt they will close the store. Now if they move their office to Bellevue or substantially downside, then it's a different situation.
If Nordstrom makes that decision, that will be the death blow to retail in downtown Seattle (beyond whatever would serve those who live down there). Nordstrom is good at making some difficult decisions with regards to store closures so if this is the right decision to make I am sure they will make it.
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Re: Pacific Place Seattle, Ghost Mall

Post by Brian Lutz »

I agree, I can't see Nordstrom giving up their Downtown Seattle store unless they completely abandon Seattle, since that would likely require relocating their headquarters, and they also closed their Northgate store a couple of years ago based on the fact that the new Northgate light rail station would be opening soon (it has since opened) and people could ride that to their Downtown Seattle flagship store, which largely made the relatively small Northgate Nordstrom store redundant (they do still have a Nordstrom Rack store there though.)

That said, the Seattle City Council (particularly the socialist portion) has done a pretty effective job of convincing Amazon to move tens of thousands of jobs to Bellevue, so it wouldn't surprise me too much if they managed to chase Nordstrom away. Amazon had planned to fully occupy the new Rainier Square Tower upon completion but instead opted to sublease it primarily because of attempts by the Seattle City Council to impose a "head tax" of $400 per year per employee in Seattle. I haven't spent any significant amount of time in Downtown Seattle since before COVID (when my job was in SODO next to T-Mobile Park) so I don't know much about how things are there now, but the local news doesn't seem to want to talk about much of anything but ongoing crime problems around the Pike Place Market and other tourist parts of Seattle. I've personally never felt unsafe there, but I've definitely seen things degrade, especially over the last five years.
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