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Wikipedia

Everett Mall

January 11, 2023

Everett Mall is a 673,000-square-foot (62,500 m2) indoor/outdoor shopping mall located in Everett, Washington, United States. Planned in the late 1960s, the mall began with the construction of two anchor stores, Sears in 1969 and White Front in 1971; the mall was originally built and opened in 1974. It was plagued from the start of development: construction was stalled in 1972 due to the Boeing bust, and it suffered further misfortune with one anchor store closing before the rest of the mall could open. The mall also had a low tenant rate upon opening, only rebounding after The Bon Marché (later Macy's) opened in 1977; the success led to the construction of an additional north wing to the mall anchored by the upscale Frederick & Nelson department store. In 2004, the mall underwent a massive expansion and renovation that included the addition of a 16-screen movie theater and outdoor stores along the south side. The mall's anchor stores are Regal Cinemas, LA Fitness, Burlington, Floor & Decor, Ulta Beauty, and Party City. There is one vacant anchor store that was once Sears.

Everett Mall
LocationEverett, Washington, United States
Coordinates47°54′37″N 122°12′47″W / 47.91035°N 122.21309°W / 47.91035; -122.21309Coordinates: 47°54′37″N 122°12′47″W / 47.91035°N 122.21309°W / 47.91035; -122.21309
Opening dateOctober 1974 (original mall portion)
DeveloperEarl Cohen & Associates (1967–1972)
Hanson Development Company (1972–1979)
ManagementJLL
OwnerBrixton Capital
ArchitectLaw Construction Company
MulvannyG2 Architecture (2004 remodel)
No. of stores and services100+
No. of anchor tenants7 (6 open, 1 vacant)
Total retail floor area673,000 sq ft (62,500 m2)
No. of floors1
Websiteshopeverettmall.com

Mervyn's, an anchor since 1992, closed late 2006. The store was replaced with LA Fitness and Steve & Barry's.[1] Steve & Barry's in turn was closed in 2009 after its owners filed for Chapter 11 bankruptcy protection and was replaced by Burlington Coat Factory in 2013. Macy's closed its store in 2017 followed by Sears in early 2020.

Description

Everett Mall is located in the Twin Creeks neighborhood in southern Everett. It stands along Everett Mall Way, part of State Route 99 (SR 99), in a 62-acre (25 ha)[2] space bounded by West Mall Drive to the west, 100th Street Southeast to the south, and Interstate 5 (I-5) to the east.[3][4] It is located less than one mile (1.6 km) south of the Broadway Interchange, where I-5, SR 99, SR 526, and SR 527 converge.[4] It also acts as a transit hub for Everett Transit, serving several local bus routes.[5]

History

Development and early construction: 1968–1972

The plan for a modern shopping mall in Everett was first formulated in the mid-1960s under the moniker "Broadway Mall". In 1968, developers Norman L. Iverson & Associates of Tacoma and Earl Cohen & Associates of Beverly Hills purchased a 60-acre (24 ha) lot south of downtown in the diagonal area bound by Interstate 5, US 99, and an earlier alignment of 99 known as the Broadway cutoff, now known as Everett Mall Way. 10.4 acres (42,000 m2) of the property nearest to the interstate would be the focus of future mall development. The first merchant they attracted to the new site was the Sears, Roebuck and Company department store, who would leave their location of 40 years at 2701 Colby Street in downtown Everett to build the first store on the property. Robert Freidenrich, soon-to-be manager of the new store, discussed the rationale of the store's exodus to the suburbs with The Seattle Times:

We have seen the need for an enlarged store in the Everett area for years. Present and future growth patterns indicate that our new site will eventually form the center of a dense suburban market.[6]

The store, which opened to the public on February 12, 1969, contained 114,375 square feet (10,625.8 m2) arranged into 50 different departments. The store also contained a 14-stall automotive repair center, an outdoor garden center, a tailor shop and a 40-seat coffee shop.[6] The Richardson Associates were the architects and engineers.[7]

Sears was joined by another large anchor store on the property with the grand opening of the California-based discount department store chain, White Front on May 13, 1971. It was the chain's fifth store in the Puget Sound region.[8] The Iverson and Cohen firms soon began planning for the construction of an enclosed mall to connect Sears and White Front as well as a planned third anchor store but construction was halted when massive cutbacks at Boeing threatened the economic stability of the entire region.[9] Hackensack, New Jersey based developer, Hanson Development Company purchased the unfinished mall in July 1972 with promises to complete the project.[9]

New construction and further setbacks: 1973–1977

 
The mall's interior in June 1975, with Sears in the background.

Construction of the mall continued on and by March 1973, Hanson claimed that 21 leases had been signed with tenants, filling about 60% of the 150,000 square feet (14,000 m2) of retail planned for the mall upon completion, projected for sometime that Summer.[9] The Law Company of Wichita, Kansas handled construction of the mall from its own architectural plans. Local firms Wick Construction Co. and Douglas Mulvanny, Seattle architect, were in charge of the construction and design of tenant spaces.[9]

In late 1973 came the announcement of a new triplex theater at the mall by General Cinema Corporation of Boston, who operated theaters in Renton and the Overlake area of Redmond. It was billed as Washington's first triple-auditorium indoor theater.[10] The Everett Mall Cinemas I, II and III opened on February 13, 1974, with a seating capacity of 1,300. The opening attractions were The Sting, Serpico and American Graffiti.[11]

Things began to fall apart for the developers when, in 1974, White Front declared bankruptcy and shuttered its large store at the mall, the last one in the state to close. Investors soon became wary of opening stores at the mall. After much delay, the Everett Mall finally opened in October 1974 with only one anchor tenant and little more than half of its stores occupied. The mall resembled a ghost town and was not actively promoted by its owners. The atmosphere of the mall at the time was described by The Seattle Times in 1977:

Large canvas curtains blocked off undeveloped retail space. Youths played tag, darting through rips in the canvas, and young smokers hid in the shadows of closed-off stalls. Seldom were shoppers forced to park more than three or four stalls from the building. Store aisles were uncrowded and benches for weary shoppers inside the mall were usually empty[12]

Turnaround and expansion: 1977–1992

Fortunes began to turn around when The Bon Marché purchased the former White Front store in 1976 with plans of moving their store from downtown Everett. An opening was set for February 25, 1977.[12] Soon after the Bon's announcement, new retailers began to move to the mall. At the same time, Roebling Management Company, who managed the mall as a subsidiary of the Hanson group (later known as the Titanic Associates) announced plans to carry out the originally intended plans for the mall, including the third anchor store.[12] In August 1977, construction began on the second triplex theater at the mall just west of Sears, to be operated but not owned by General Cinema. At that time the theater was a stand-alone building.[13]

Construction of the mall's new $20 million east wing began in the fall of 1979 and was completed by the fall of 1980. The new addition officially opened on August 1, 1980, fully leased.[14] The centerpiece of the expanded mall was the two-story, 120,000-square-foot (11,000 m2) Frederick & Nelson department store, the Marshall Field subsidiary's 15th store, designed by Beverly Hills architects Martinez, Takeda & Hahn. The addition also contained a 39,000-square-foot (3,600 m2) Payless Drug store and 52,420 square feet (4,870 m2) of mall shops.[15] The mall's tenant mix remained stable until 1991, when Frederick & Nelson declared bankruptcy and subsequently closed its Everett store on September 22;[16] it sold the lease to California-based Mervyn's, which then had a store at a strip mall along Evergreen Way in South Everett.[17][18] Remodeling commenced in December once legal issues surrounding the bankruptcy were settled, with that store opening to much fanfare on July 19, 1992.[19][20]

Financial troubles and new owners: 1998–2002

In 1998, Everett Mall's management, Hampshire Management Co., submitted plans to the City of Everett for a major expansion that, if carried out, would rival Alderwood Mall in size. Under the plan, 275,000 square feet (25,500 m2) of retail space would be added as well as a new multiplex theater, a hotel and multiple restaurants. These plans soon became jeopardized when a financial crises hit the owners.[21]

During the fall of 2000, the Everett Mall was placed into receivership by the Snohomish County Superior Court after finding that its owners, Titanic Associates of Morristown, New Jersey had defaulted on a loan. By 2001, Titanic had amassed $61 million of debt and were facing foreclosure of the property. To eliminate the debt, they deeded the mall to the Equitable Life Assurance Society of New York, who assumed operations.[22] By the end of the year, Equitable hired Madison Marquette to manage the mall and direct its expansion.[23][24]

Village expansion and decline: 2003–present

In 2003, expansion plans resumed. This time with over 227,068 square feet (21,095.3 m2) of new retail space including a new "power center", the Everett Mall Village, and major exterior renovations planned. Construction began in 2004.[25] In June 2004, Equitable sold Everett Mall for $50.2 million to Steadfast Commercial Properties of Newport Beach, California, who proceeded to replace Madison Marquette with their own management company to carry out the expansion.[26]

The expansion project known as Everett Village broke ground in November 2004 with Best Buy, PetSmart, Old Navy, Borders Books and Bed Bath & Beyond announced as future tenants.[27] Borders and Old Navy would occupy spaces within the mall's north wings rather than at the Village.[28] Once completed in 2007, Steadfast sold the Village for $21.7 million to SJ Realty Investments of Ohio.[29][30] SJ Realty sold the Village for $22.5 million in 2015 to San Francisco-based Stockbridge Capital Group,[31] which then sold it to another California-based company, Argonaut Investments, for $24.85 million in 2018.[32]

With the expansion, Regal Cinemas also committed to building a 16-screen cinema.[27] Regal had taken over the triplex theater at the mall after AMC Theatres backed out of the mall's theater operations in January 2003 with the end of their lease approaching, abandoning the standalone seven-screen theater in the process;[33][34] AMC had assumed operations via its acquisition of General Cinema in early 2002.[35] The 70,000-square-foot (6,500 m2) theater officially opened to the public on July 14, 2006, replacing the triplex theater as well as a nine-screen theater two blocks west of the mall;[36] the latter had opened on April 23, 1993, under the ownership of Act III Cinemas and was taken over by Regal when it acquired the company in 1998.[37][38]

In late 2006, Mervyn's announced that it would shutter all of its Oregon and Washington locations; it later declared bankruptcy and underwent liquidation in 2008 during the Great Recession.[39][40] The Everett store was divided between LA Fitness and national discount family clothing chain Steve & Barry's, with the latter taking up the entire second floor as well as half of the first floor with the portion facing the mall.[41] Steve & Barry's opened in June 2007, but it also declared bankruptcy and closed all locations just over a year later; its space remained vacant until Burlington Coat Factory took over, opening on September 20, 2013.[40][42] Borders underwent liquidation in 2011, with its space subsequently taken over by a local bookstore.[43][44] Steadfast defaulted in 2012 on a 10-year, $98 million loan for the mall which it took from the Royal Bank of Canada in 2007.[45] Steadfast avoided foreclosure on the mall, having Canyon Partners, a Los Angeles-based investment group, join ownership over it the following year.[30][46] The Canyon Partners investment allowed the mall to attract Burlington Coat Factory as well as Party City and Ulta Beauty.[47]

Macy's closed its store at the Everett Mall in 2017 and was replaced by Floor & Decor the following year.[48][49] In October 2017, Brixton Capital, an affiliate of Brutten Global, purchased the property for an undisclosed price from Steadfast Companies and Canyon Partners, with JLL taking over the mall's management and leasing; the sale did not include the then-former Macy's space nor the Village.[30][50] On August 31, 2019, it was announced that Sears would be closing their Everett location in December 2019.[51] The Village did not fare any better; Bed Bath & Beyond followed suit after Sears, announcing on September 18, 2020, that they would close their store in Everett at the end of the year.[52]

A major redevelopment of the original mall was announced by Brixton Capital in August 2022, proposing demolition of the central portion and food court. An outdoor parking area would be added in their place, along with new shops that would result in a 20 percent reduction in overall space. The Sears store is also planned to be demolished and replaced with an At Home store.[53]

References

  1. ^ . Archived from the original on December 5, 2008. Retrieved February 28, 2007.
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  5. ^ System Map (Map). Everett Transit. March 2022. from the original on June 20, 2022. Retrieved March 27, 2022.
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  8. ^ "Grand Opening Sale" (Advertisement). The Seattle Times. May 16, 1971. p. B7. from the original on August 13, 2022. Retrieved July 22, 2021 – via NewsBank.
  9. ^ a b c d "Everett Mall 60% leased". The Seattle Times. March 10, 1974. p. E4. from the original on August 13, 2022. Retrieved July 22, 2021 – via NewsBank.
  10. ^ Hartl, John (September 7, 1973). "At the Movies; 'Lady Ice' is a clinker [Movie Notes]". Tempo [The Seattle Times]. p. 2. from the original on August 13, 2022. Retrieved July 22, 2021 – via NewsBank.
  11. ^ "Everett has new cinema complex". The Seattle Times. January 30, 1974. p. C7. from the original on August 13, 2022. Retrieved July 22, 2021 – via NewsBank.
  12. ^ a b c Mallery, Jim "Everett Mall: Full in a Year?" The Seattle Times January 26, 1977. p. H8.
  13. ^ "New Theaters for Everett". The Seattle Times. August 17, 1977. p. H4. from the original on August 13, 2022. Retrieved August 13, 2022 – via NewsBank.
  14. ^ "Frederick & Nelson Opens In Everett Mall August 1". The Seattle Times (Advertisement). July 25, 1980. p. A12. from the original on August 13, 2022. Retrieved August 13, 2022 – via NewsBank.
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  16. ^ Updike, Robin; Gupta, Himanee; Acohido, Byron (September 18, 1991). "Embattled F&N Sees Hope Despite Closures, Layoffs". The Seattle Times. from the original on March 29, 2022. Retrieved March 19, 2022.
  17. ^ Hayes, Janice (July 30, 1987). "Fashioning a new chain". The Seattle Times. p. B1. from the original on August 13, 2022. Retrieved March 29, 2022 – via NewsBank.
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  19. ^ Milburn, Karen (January 24, 1992). "Mervyn's Gets Ready For Move". The Seattle Times. from the original on October 1, 2012. Retrieved January 21, 2011.
  20. ^ Alexander, Karen (July 24, 1992). "Mall Is Jampacked For Mervyn's Opening -- Other Stores Benefit From `Sea' Of Shoppers". The Seattle Times. from the original on March 29, 2022. Retrieved March 29, 2022.
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  24. ^ (PDF) (Press release). Minneapolis, MN: Madison Marquette Realty Services. December 11, 2001. Archived from the original (PDF) on October 26, 2003. Retrieved January 1, 2021.
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  26. ^ "Everett Mall fetches $50.2M; set for expansion". Puget Sound Business Journal. June 10, 2004. from the original on September 8, 2004. Retrieved September 21, 2010.
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  29. ^ "Everett Village Center sells for $21.7M". Puget Sound Business Journal. March 29, 2007. from the original on August 13, 2022. Retrieved September 21, 2010.
  30. ^ a b c Davis, Jim (October 3, 2017). "Everett Mall sold to California real-estate investment group". The Everett Herald. from the original on December 1, 2017. Retrieved November 21, 2017.
  31. ^ Catchpole, Dan (September 9, 2015). "San Francisco investment firm buys Everett retail strip for $22.5 million". The Everett Herald. from the original on December 6, 2021. Retrieved December 26, 2020.
  32. ^ Stubbs, Jack (January 2, 2018). "Argonaut Investments Acquires the Everett Village Center for $24.85MM". The Registry. Mighty Dot Media. from the original on January 15, 2021. Retrieved December 26, 2020.
  33. ^ Wright, Diane (January 15, 2003). "Cinemas' closure `like a relic going away'". The Seattle Times. p. H15. from the original on August 13, 2022. Retrieved August 13, 2022 – via NewsBank.
  34. ^ Douglas, Jeff (June 22, 2005). "Movie-house giants merging". The Seattle Times. from the original on August 13, 2022. Retrieved January 1, 2021.
  35. ^ "AMC Entertainment agrees to buy General Cinema". Seattle Post-Intelligencer. December 7, 2001. from the original on August 13, 2022. Retrieved January 1, 2021.
  36. ^ Wright, Diane (July 12, 2006). "Charities get lift as Everett's new megaplex opens". The Seattle Times. from the original on March 29, 2022. Retrieved March 29, 2022.
  37. ^ Hartl, John (April 23, 1993). "ACT III spends $500,000 on sound in Everett theaters". The Seattle Times. Tempo, p. 15. from the original on August 13, 2022. Retrieved August 13, 2022 – via NewsBank.
  38. ^ Burnham, Michael (December 1, 2004). "32 screens to open within next 2 years". The Seattle Times. p. H28. from the original on August 13, 2022. Retrieved August 13, 2022 – via NewsBank.
  39. ^ "Mervyns to close 19 stores in Washington and Oregon". The Seattle Times. January 17, 2006. from the original on April 12, 2021. Retrieved April 12, 2021.
  40. ^ a b Nohara, Yoshiaki (November 20, 2008). "Steve & Barry's store to shut down at Everett Mall". The Everett Herald. Associated Press. from the original on April 12, 2021. Retrieved April 12, 2021.
  41. ^ Fetters, Eric (August 29, 2006). "Hip retailer replaces Mervyn's". The Everett Herald. from the original on April 12, 2021. Retrieved April 12, 2021.
  42. ^ Haglund, Noah (September 6, 2013). "New tenant seen as key to Everett Mall revival". The Everett Herald. from the original on April 12, 2021. Retrieved April 12, 2021.
  43. ^ Muhlstein, Julie (July 22, 2011). "No happy ending for Borders". The Everett Herald. from the original on August 13, 2022. Retrieved March 29, 2022.
  44. ^ "Books are back in Everett Mall's old Borders space". The Everett Herald. November 23, 2011. from the original on March 29, 2022. Retrieved March 29, 2022.
  45. ^ Pryne, Eric (March 15, 2012). "Everett Mall's owner defaults on $98M loan". The Seattle Times. from the original on August 13, 2022. Retrieved December 26, 2020.
  46. ^ Jones, Jeanne Lang (March 6, 2013). "L.A. fund tied to Magic Johnson invests in Everett and Federal Way malls". Puget Sound Business Journal. from the original on November 22, 2019. Retrieved December 26, 2020.
  47. ^ Dunlop, Michelle (March 6, 2013). "New Everett Mall investors include Magic Johnson". The Everett Herald. from the original on March 29, 2022. Retrieved March 29, 2022.
  48. ^ Tu, Janet I. (January 4, 2017). "Macy's in Everett, Sears at Alderwood Mall will be closing". The Seattle Times. from the original on January 5, 2017. Retrieved January 4, 2017.
  49. ^ King, Rikki (April 27, 2018). "Former Everett Macy's will be replaced by a flooring business". The Everett Herald. from the original on September 1, 2019. Retrieved August 31, 2019.
  50. ^ Garnick, Coral (October 4, 2017). "Everett Mall sold to a California real estate investment firm". Puget Sound Business Journal. from the original on August 13, 2022. Retrieved December 26, 2020.
  51. ^ Tyko, Kelly (August 31, 2019). "Kmart, Sears store closings: More locations to shutter by end of 2019". USA Today. Gannett. from the original on August 7, 2019. Retrieved August 31, 2019.
  52. ^ Tyko, Kelly (September 18, 2020). "Is your Bed Bath & Beyond store closing? See the full list of the 63 stores slated to close by the end of 2020". USA Today. Gannett. from the original on October 7, 2020. Retrieved October 10, 2020.
  53. ^ Miller, Brian (August 9, 2022). "Everett Mall to get smaller, but add a new tenant". Seattle Daily Journal of Commerce. from the original on August 10, 2022. Retrieved August 10, 2022.

External links

  • Official website

January 11, 2023
everett, mall, square, foot, indoor, outdoor, shopping, mall, located, everett, washington, united, states, planned, late, 1960s, mall, began, with, construction, anchor, stores, sears, 1969, white, front, 1971, mall, originally, built, opened, 1974, plagued, . Everett Mall is a 673 000 square foot 62 500 m2 indoor outdoor shopping mall located in Everett Washington United States Planned in the late 1960s the mall began with the construction of two anchor stores Sears in 1969 and White Front in 1971 the mall was originally built and opened in 1974 It was plagued from the start of development construction was stalled in 1972 due to the Boeing bust and it suffered further misfortune with one anchor store closing before the rest of the mall could open The mall also had a low tenant rate upon opening only rebounding after The Bon Marche later Macy s opened in 1977 the success led to the construction of an additional north wing to the mall anchored by the upscale Frederick amp Nelson department store In 2004 the mall underwent a massive expansion and renovation that included the addition of a 16 screen movie theater and outdoor stores along the south side The mall s anchor stores are Regal Cinemas LA Fitness Burlington Floor amp Decor Ulta Beauty and Party City There is one vacant anchor store that was once Sears Everett MallLocationEverett Washington United StatesCoordinates47 54 37 N 122 12 47 W 47 91035 N 122 21309 W 47 91035 122 21309 Coordinates 47 54 37 N 122 12 47 W 47 91035 N 122 21309 W 47 91035 122 21309Opening dateOctober 1974 original mall portion DeveloperEarl Cohen amp Associates 1967 1972 Hanson Development Company 1972 1979 ManagementJLLOwnerBrixton CapitalArchitectLaw Construction CompanyMulvannyG2 Architecture 2004 remodel No of stores and services100 No of anchor tenants7 6 open 1 vacant Total retail floor area673 000 sq ft 62 500 m2 No of floors1Websiteshopeverettmall wbr comMervyn s an anchor since 1992 closed late 2006 The store was replaced with LA Fitness and Steve amp Barry s 1 Steve amp Barry s in turn was closed in 2009 after its owners filed for Chapter 11 bankruptcy protection and was replaced by Burlington Coat Factory in 2013 Macy s closed its store in 2017 followed by Sears in early 2020 Contents 1 Description 2 History 2 1 Development and early construction 1968 1972 2 2 New construction and further setbacks 1973 1977 2 3 Turnaround and expansion 1977 1992 2 4 Financial troubles and new owners 1998 2002 2 5 Village expansion and decline 2003 present 3 References 4 External linksDescription EditEverett Mall is located in the Twin Creeks neighborhood in southern Everett It stands along Everett Mall Way part of State Route 99 SR 99 in a 62 acre 25 ha 2 space bounded by West Mall Drive to the west 100th Street Southeast to the south and Interstate 5 I 5 to the east 3 4 It is located less than one mile 1 6 km south of the Broadway Interchange where I 5 SR 99 SR 526 and SR 527 converge 4 It also acts as a transit hub for Everett Transit serving several local bus routes 5 History EditDevelopment and early construction 1968 1972 Edit The plan for a modern shopping mall in Everett was first formulated in the mid 1960s under the moniker Broadway Mall In 1968 developers Norman L Iverson amp Associates of Tacoma and Earl Cohen amp Associates of Beverly Hills purchased a 60 acre 24 ha lot south of downtown in the diagonal area bound by Interstate 5 US 99 and an earlier alignment of 99 known as the Broadway cutoff now known as Everett Mall Way 10 4 acres 42 000 m2 of the property nearest to the interstate would be the focus of future mall development The first merchant they attracted to the new site was the Sears Roebuck and Company department store who would leave their location of 40 years at 2701 Colby Street in downtown Everett to build the first store on the property Robert Freidenrich soon to be manager of the new store discussed the rationale of the store s exodus to the suburbs with The Seattle Times We have seen the need for an enlarged store in the Everett area for years Present and future growth patterns indicate that our new site will eventually form the center of a dense suburban market 6 The store which opened to the public on February 12 1969 contained 114 375 square feet 10 625 8 m2 arranged into 50 different departments The store also contained a 14 stall automotive repair center an outdoor garden center a tailor shop and a 40 seat coffee shop 6 The Richardson Associates were the architects and engineers 7 Sears was joined by another large anchor store on the property with the grand opening of the California based discount department store chain White Front on May 13 1971 It was the chain s fifth store in the Puget Sound region 8 The Iverson and Cohen firms soon began planning for the construction of an enclosed mall to connect Sears and White Front as well as a planned third anchor store but construction was halted when massive cutbacks at Boeing threatened the economic stability of the entire region 9 Hackensack New Jersey based developer Hanson Development Company purchased the unfinished mall in July 1972 with promises to complete the project 9 New construction and further setbacks 1973 1977 Edit The mall s interior in June 1975 with Sears in the background Construction of the mall continued on and by March 1973 Hanson claimed that 21 leases had been signed with tenants filling about 60 of the 150 000 square feet 14 000 m2 of retail planned for the mall upon completion projected for sometime that Summer 9 The Law Company of Wichita Kansas handled construction of the mall from its own architectural plans Local firms Wick Construction Co and Douglas Mulvanny Seattle architect were in charge of the construction and design of tenant spaces 9 In late 1973 came the announcement of a new triplex theater at the mall by General Cinema Corporation of Boston who operated theaters in Renton and the Overlake area of Redmond It was billed as Washington s first triple auditorium indoor theater 10 The Everett Mall Cinemas I II and III opened on February 13 1974 with a seating capacity of 1 300 The opening attractions were The Sting Serpico and American Graffiti 11 Things began to fall apart for the developers when in 1974 White Front declared bankruptcy and shuttered its large store at the mall the last one in the state to close Investors soon became wary of opening stores at the mall After much delay the Everett Mall finally opened in October 1974 with only one anchor tenant and little more than half of its stores occupied The mall resembled a ghost town and was not actively promoted by its owners The atmosphere of the mall at the time was described by The Seattle Times in 1977 Large canvas curtains blocked off undeveloped retail space Youths played tag darting through rips in the canvas and young smokers hid in the shadows of closed off stalls Seldom were shoppers forced to park more than three or four stalls from the building Store aisles were uncrowded and benches for weary shoppers inside the mall were usually empty 12 Turnaround and expansion 1977 1992 Edit Fortunes began to turn around when The Bon Marche purchased the former White Front store in 1976 with plans of moving their store from downtown Everett An opening was set for February 25 1977 12 Soon after the Bon s announcement new retailers began to move to the mall At the same time Roebling Management Company who managed the mall as a subsidiary of the Hanson group later known as the Titanic Associates announced plans to carry out the originally intended plans for the mall including the third anchor store 12 In August 1977 construction began on the second triplex theater at the mall just west of Sears to be operated but not owned by General Cinema At that time the theater was a stand alone building 13 Construction of the mall s new 20 million east wing began in the fall of 1979 and was completed by the fall of 1980 The new addition officially opened on August 1 1980 fully leased 14 The centerpiece of the expanded mall was the two story 120 000 square foot 11 000 m2 Frederick amp Nelson department store the Marshall Field subsidiary s 15th store designed by Beverly Hills architects Martinez Takeda amp Hahn The addition also contained a 39 000 square foot 3 600 m2 Payless Drug store and 52 420 square feet 4 870 m2 of mall shops 15 The mall s tenant mix remained stable until 1991 when Frederick amp Nelson declared bankruptcy and subsequently closed its Everett store on September 22 16 it sold the lease to California based Mervyn s which then had a store at a strip mall along Evergreen Way in South Everett 17 18 Remodeling commenced in December once legal issues surrounding the bankruptcy were settled with that store opening to much fanfare on July 19 1992 19 20 Financial troubles and new owners 1998 2002 Edit In 1998 Everett Mall s management Hampshire Management Co submitted plans to the City of Everett for a major expansion that if carried out would rival Alderwood Mall in size Under the plan 275 000 square feet 25 500 m2 of retail space would be added as well as a new multiplex theater a hotel and multiple restaurants These plans soon became jeopardized when a financial crises hit the owners 21 During the fall of 2000 the Everett Mall was placed into receivership by the Snohomish County Superior Court after finding that its owners Titanic Associates of Morristown New Jersey had defaulted on a loan By 2001 Titanic had amassed 61 million of debt and were facing foreclosure of the property To eliminate the debt they deeded the mall to the Equitable Life Assurance Society of New York who assumed operations 22 By the end of the year Equitable hired Madison Marquette to manage the mall and direct its expansion 23 24 Village expansion and decline 2003 present Edit In 2003 expansion plans resumed This time with over 227 068 square feet 21 095 3 m2 of new retail space including a new power center the Everett Mall Village and major exterior renovations planned Construction began in 2004 25 In June 2004 Equitable sold Everett Mall for 50 2 million to Steadfast Commercial Properties of Newport Beach California who proceeded to replace Madison Marquette with their own management company to carry out the expansion 26 The expansion project known as Everett Village broke ground in November 2004 with Best Buy PetSmart Old Navy Borders Books and Bed Bath amp Beyond announced as future tenants 27 Borders and Old Navy would occupy spaces within the mall s north wings rather than at the Village 28 Once completed in 2007 Steadfast sold the Village for 21 7 million to SJ Realty Investments of Ohio 29 30 SJ Realty sold the Village for 22 5 million in 2015 to San Francisco based Stockbridge Capital Group 31 which then sold it to another California based company Argonaut Investments for 24 85 million in 2018 32 With the expansion Regal Cinemas also committed to building a 16 screen cinema 27 Regal had taken over the triplex theater at the mall after AMC Theatres backed out of the mall s theater operations in January 2003 with the end of their lease approaching abandoning the standalone seven screen theater in the process 33 34 AMC had assumed operations via its acquisition of General Cinema in early 2002 35 The 70 000 square foot 6 500 m2 theater officially opened to the public on July 14 2006 replacing the triplex theater as well as a nine screen theater two blocks west of the mall 36 the latter had opened on April 23 1993 under the ownership of Act III Cinemas and was taken over by Regal when it acquired the company in 1998 37 38 In late 2006 Mervyn s announced that it would shutter all of its Oregon and Washington locations it later declared bankruptcy and underwent liquidation in 2008 during the Great Recession 39 40 The Everett store was divided between LA Fitness and national discount family clothing chain Steve amp Barry s with the latter taking up the entire second floor as well as half of the first floor with the portion facing the mall 41 Steve amp Barry s opened in June 2007 but it also declared bankruptcy and closed all locations just over a year later its space remained vacant until Burlington Coat Factory took over opening on September 20 2013 40 42 Borders underwent liquidation in 2011 with its space subsequently taken over by a local bookstore 43 44 Steadfast defaulted in 2012 on a 10 year 98 million loan for the mall which it took from the Royal Bank of Canada in 2007 45 Steadfast avoided foreclosure on the mall having Canyon Partners a Los Angeles based investment group join ownership over it the following year 30 46 The Canyon Partners investment allowed the mall to attract Burlington Coat Factory as well as Party City and Ulta Beauty 47 Macy s closed its store at the Everett Mall in 2017 and was replaced by Floor amp Decor the following year 48 49 In October 2017 Brixton Capital an affiliate of Brutten Global purchased the property for an undisclosed price from Steadfast Companies and Canyon Partners with JLL taking over the mall s management and leasing the sale did not include the then former Macy s space nor the Village 30 50 On August 31 2019 it was announced that Sears would be closing their Everett location in December 2019 51 The Village did not fare any better Bed Bath amp Beyond followed suit after Sears announcing on September 18 2020 that they would close their store in Everett at the end of the year 52 A major redevelopment of the original mall was announced by Brixton Capital in August 2022 proposing demolition of the central portion and food court An outdoor parking area would be added in their place along with new shops that would result in a 20 percent reduction in overall space The Sears store is also planned to be demolished and replaced with an At Home store 53 References Edit Steadfast Companies Archived from the original on December 5 2008 Retrieved February 28 2007 Everett Mall brochure PDF JLL Archived PDF from the original on March 28 2022 Retrieved March 28 2022 Public Works Utility Mapping August 5 2021 Everett Street Index Map City of Everett Archived from the original on August 26 2021 Retrieved March 28 2022 a b United States Geological Survey 2014 Everett quadrangle Washington PDF Map 1 24 000 7 5 Minute Series Washington D C United States Geological Survey Archived PDF from the original on August 13 2022 Retrieved March 28 2022 System Map Map Everett Transit March 2022 Archived from the original on June 20 2022 Retrieved March 27 2022 a b Sears Opens New Store On Everett Mall The Seattle Times February 12 1969 p 35 Archived from the original on August 13 2022 Retrieved July 22 2021 via NewsBank Sears Everett Gears for Wednesday Opening The Seattle Times February 9 1969 p C3 Archived from the original on August 13 2022 Retrieved July 22 2021 via NewsBank Grand Opening Sale Advertisement The Seattle Times May 16 1971 p B7 Archived from the original on August 13 2022 Retrieved July 22 2021 via NewsBank a b c d Everett Mall 60 leased The Seattle Times March 10 1974 p E4 Archived from the original on August 13 2022 Retrieved July 22 2021 via NewsBank Hartl John September 7 1973 At the Movies Lady Ice is a clinker Movie Notes Tempo The Seattle Times p 2 Archived from the original on August 13 2022 Retrieved July 22 2021 via NewsBank Everett has new cinema complex The Seattle Times January 30 1974 p C7 Archived from the original on August 13 2022 Retrieved July 22 2021 via NewsBank a b c Mallery Jim Everett Mall Full in a Year The Seattle Times January 26 1977 p H8 New Theaters for Everett The Seattle Times August 17 1977 p H4 Archived from the original on August 13 2022 Retrieved August 13 2022 via NewsBank Frederick amp Nelson Opens In Everett Mall August 1 The Seattle Times Advertisement July 25 1980 p A12 Archived from the original on August 13 2022 Retrieved August 13 2022 via NewsBank Expansion Planned at Everett Mall The Seattle Times May 31 1979 p G6 Archived from the original on August 13 2022 Retrieved August 13 2022 via NewsBank Updike Robin Gupta Himanee Acohido Byron September 18 1991 Embattled F amp N Sees Hope Despite Closures Layoffs The Seattle Times Archived from the original on March 29 2022 Retrieved March 19 2022 Hayes Janice July 30 1987 Fashioning a new chain The Seattle Times p B1 Archived from the original on August 13 2022 Retrieved March 29 2022 via NewsBank South Everett Mervyn s to close mall store to open The Seattle Times September 23 1991 p B6 Archived from the original on August 13 2022 Retrieved August 13 2022 via NewsBank Milburn Karen January 24 1992 Mervyn s Gets Ready For Move The Seattle Times Archived from the original on October 1 2012 Retrieved January 21 2011 Alexander Karen July 24 1992 Mall Is Jampacked For Mervyn s Opening Other Stores Benefit From Sea Of Shoppers The Seattle Times Archived from the original on March 29 2022 Retrieved March 29 2022 Bishop Todd Everett Mall Put into Receivership Lender seeks foreclosure on 55 million debt Archived May 11 2003 at the Wayback Machine Puget Sound Business Journal November 10 2000 Retrieved September 21 2010 Bishop Todd Everett Mall goes to lender Ownership deal wipes out debt Archived August 11 2006 at the Wayback Machine Puget Sound Business Journal June 22 2001 Retrieved September 21 2010 New Manager for Everett Mall Archived January 19 2005 at the Wayback Machine Puget Sound Business Journal December 5 2001 Retrieved September 21 2010 MADISON MARQUETTE REALTY SERVICES NAMED PROPERTY MANAGER FOR EVERETT MALL PDF Press release Minneapolis MN Madison Marquette Realty Services December 11 2001 Archived from the original PDF on October 26 2003 Retrieved January 1 2021 Chickowski Ericka June 27 2003 Everett Mall makeover includes new power center Puget Sound Business Journal Archived from the original on November 23 2004 Retrieved September 21 2010 Everett Mall fetches 50 2M set for expansion Puget Sound Business Journal June 10 2004 Archived from the original on September 8 2004 Retrieved September 21 2010 a b New Everett Mall development under way with new tenants Puget Sound Business Journal November 22 2004 Archived from the original on March 19 2007 Retrieved September 21 2010 Fetters Eric July 9 2006 More at the mall The Everett Herald Archived from the original on March 29 2022 Retrieved March 29 2022 Everett Village Center sells for 21 7M Puget Sound Business Journal March 29 2007 Archived from the original on August 13 2022 Retrieved September 21 2010 a b c Davis Jim October 3 2017 Everett Mall sold to California real estate investment group The Everett Herald Archived from the original on December 1 2017 Retrieved November 21 2017 Catchpole Dan September 9 2015 San Francisco investment firm buys Everett retail strip for 22 5 million The Everett Herald Archived from the original on December 6 2021 Retrieved December 26 2020 Stubbs Jack January 2 2018 Argonaut Investments Acquires the Everett Village Center for 24 85MM The Registry Mighty Dot Media Archived from the original on January 15 2021 Retrieved December 26 2020 Wright Diane January 15 2003 Cinemas closure like a relic going away The Seattle Times p H15 Archived from the original on August 13 2022 Retrieved August 13 2022 via NewsBank Douglas Jeff June 22 2005 Movie house giants merging The Seattle Times Archived from the original on August 13 2022 Retrieved January 1 2021 AMC Entertainment agrees to buy General Cinema Seattle Post Intelligencer December 7 2001 Archived from the original on August 13 2022 Retrieved January 1 2021 Wright Diane July 12 2006 Charities get lift as Everett s new megaplex opens The Seattle Times Archived from the original on March 29 2022 Retrieved March 29 2022 Hartl John April 23 1993 ACT III spends 500 000 on sound in Everett theaters The Seattle Times Tempo p 15 Archived from the original on August 13 2022 Retrieved August 13 2022 via NewsBank Burnham Michael December 1 2004 32 screens to open within next 2 years The Seattle Times p H28 Archived from the original on August 13 2022 Retrieved August 13 2022 via NewsBank Mervyns to close 19 stores in Washington and Oregon The Seattle Times January 17 2006 Archived from the original on April 12 2021 Retrieved April 12 2021 a b Nohara Yoshiaki November 20 2008 Steve amp Barry s store to shut down at Everett Mall The Everett Herald Associated Press Archived from the original on April 12 2021 Retrieved April 12 2021 Fetters Eric August 29 2006 Hip retailer replaces Mervyn s The Everett Herald Archived from the original on April 12 2021 Retrieved April 12 2021 Haglund Noah September 6 2013 New tenant seen as key to Everett Mall revival The Everett Herald Archived from the original on April 12 2021 Retrieved April 12 2021 Muhlstein Julie July 22 2011 No happy ending for Borders The Everett Herald Archived from the original on August 13 2022 Retrieved March 29 2022 Books are back in Everett Mall s old Borders space The Everett Herald November 23 2011 Archived from the original on March 29 2022 Retrieved March 29 2022 Pryne Eric March 15 2012 Everett Mall s owner defaults on 98M loan The Seattle Times Archived from the original on August 13 2022 Retrieved December 26 2020 Jones Jeanne Lang March 6 2013 L A fund tied to Magic Johnson invests in Everett and Federal Way malls Puget Sound Business Journal Archived from the original on November 22 2019 Retrieved December 26 2020 Dunlop Michelle March 6 2013 New Everett Mall investors include Magic Johnson The Everett Herald Archived from the original on March 29 2022 Retrieved March 29 2022 Tu Janet I January 4 2017 Macy s in Everett Sears at Alderwood Mall will be closing The Seattle Times Archived from the original on January 5 2017 Retrieved January 4 2017 King Rikki April 27 2018 Former Everett Macy s will be replaced by a flooring business The Everett Herald Archived from the original on September 1 2019 Retrieved August 31 2019 Garnick Coral October 4 2017 Everett Mall sold to a California real estate investment firm Puget Sound Business Journal Archived from the original on August 13 2022 Retrieved December 26 2020 Tyko Kelly August 31 2019 Kmart Sears store closings More locations to shutter by end of 2019 USA Today Gannett Archived from the original on August 7 2019 Retrieved August 31 2019 Tyko Kelly September 18 2020 Is your Bed Bath amp Beyond store closing See the full list of the 63 stores slated to close by the end of 2020 USA Today Gannett Archived from the original on October 7 2020 Retrieved October 10 2020 Miller Brian August 9 2022 Everett Mall to get smaller but add a new tenant Seattle Daily Journal of Commerce Archived from the original on August 10 2022 Retrieved August 10 2022 External links EditOfficial website Retrieved from https en wikipedia org w index php title Everett Mall amp oldid 1104173103, wikipedia, wiki, book, books, library,

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