Olympia Washington and the Retail Debate

By
Commercial Real Estate Agent

Will the ever changing Westfield Mall lose it's prized retail core status of Olympia within the next 10 years?

Short answer - YES

With new developments along the I-5 corridor approximately 10 miles North in the Hawks Prairie area, national retailers will begin making choices as to which location optimizes their visibility.  Sure West Olympia still has the population and good demographics, but Hawks Prairie is growing, has Fort Lewis troop increases and an ever rising household income.

I believe all these items combined will cause the "new downtown" of Lacey to emerge as the new retail capitol of the Olympia area.  The next few years will allow the mall to input new retailers such as Designer Shoe Warehouse and Dick's Sporting Goods into the old Mervyn's location, but the next 10 years may see the entrance of a regional mall into the market.  Lacey has already started by providing space for Cabela's and rumors are gathering regarding Nordstroms and other large retail chains.

RYAN HADDOCK                                                                                                                                        

www.soundadvisors.net

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