Everett Mall

Everett Mall is a regional shopping center in Everett, Washington, located in the Twin Creeks area along Everett Mall Way, near the junction of Interstate 5 and several major state routes. The property occupies approximately 62 acres and combines an enclosed mall with an outdoor retail component commonly associated with Everett Mall Village. Its current retail mix includes national department, specialty, discount, home-improvement, beauty, grocery, fitness, pet-supply, and entertainment operators. Regal Cinemas, Burlington, Best Buy, PetSmart, TJ Maxx, HomeGoods, Floor & Decor, Ulta Beauty, Five Below, and Trader Joe's are among the retailers identified with the center in recent descriptions. The project originated in the late 1960s, when developers Norman L. Iverson & Associates and Earl Cohen & Associates acquired land south of central Everett for a suburban shopping complex. Sears opened on the site in 1969, followed by California-based discount retailer White Front in 1971. Plans for an enclosed mall connecting the anchors were interrupted in 1972 after major Boeing-related economic cutbacks weakened the regional economy. Hanson Development Company acquired the unfinished project and resumed construction, but White Front entered bankruptcy before the mall was fully established. Everett Mall ultimately opened in October 1974 with a low occupancy rate and only one functioning anchor, creating a difficult early operating environment. The center began to recover after The Bon Marché acquired the former White Front building and opened there in 1977. The arrival of the department store restored customer confidence and encouraged additional leasing. A major south-wing expansion, completed in 1980, added Frederick & Nelson as a large upscale anchor, together with new shops and a Payless Drug store. Frederick & Nelson later failed, and its space was converted for Mervyn's, which opened in 1992. These changes reflected the mall's recurring pattern of replacing underperforming anchors while adapting to shifts in department-store retail. Ownership and financing problems became prominent in the late 1990s and early 2000s. The property entered court-ordered receivership in 2000 after its owner, Titanic Associates, defaulted on debt. The mall was subsequently transferred to Equitable Life Assurance Society of New York, which hired Madison Marquette and revived plans for expansion. In 2004, Equitable sold the mall to Steadfast Commercial Properties for a reported $50.2 million, and Steadfast proceeded with a substantial renovation and outdoor retail development. The 2004–2007 expansion created Everett Mall Village and added major tenants including Best Buy, PetSmart, Old Navy, Borders, and Bed Bath & Beyond. Regal Cinemas opened a 16-screen, approximately 70,000-square-foot theater in 2006, replacing earlier small-format theaters. Restaurants and other services were added over the following decade. At the same time, the center experienced the broader structural pressures affecting American malls: Mervyn's, Steve & Barry's, Borders, Macy's, Sears, and Bed Bath & Beyond eventually closed their Everett locations. Several former anchor spaces were repurposed, including conversions for LA Fitness, Burlington, Floor & Decor, and HomeGoods. Brixton Capital acquired the original mall property in 2017, with JLL assuming management and leasing responsibilities. The transaction did not include every portion of the broader retail development, including the former Macy's space and the Village component. In 2022, Brixton announced a redevelopment intended to modernize the aging enclosed center. The plan calls for removing the central mall and food-court area, reducing total retail area, creating additional outdoor parking and shop space, and replacing the Sears building with an At Home store. Construction began in 2023, with Ulta Beauty planning to relocate and Trader Joe's seeking to occupy part of the former Sears area. Everett Mall therefore remains an active but evolving retail destination whose identity has shifted from a traditional enclosed department-store mall toward a more flexible mixed indoor-outdoor shopping center.

Plans for a suburban shopping center in Everett emerged during the 1960s under the provisional name Broadway Mall. Developers Norman L. Iverson & Associates and Earl Cohen & Associates assembled land south of downtown near the future Everett Mall Way and Interstate 5. Sears became the first major commitment and opened a large department store on February 12, 1969, relocating from downtown Everett. White Front followed with a grand opening in May 1971. The developers intended to connect the two stores with an enclosed shopping mall and add another anchor. Construction was halted in 1972 when Boeing-related cutbacks damaged the regional economy. Hanson Development Company bought the incomplete project in July 1972 and resumed work. Although leasing initially progressed, White Front entered bankruptcy and closed before the center had fully stabilized. Everett Mall opened in October 1974 with Sears as its principal surviving anchor and with much of the planned retail area unoccupied. The center developed a poor reputation during its first years because unfinished areas were screened off and shopper traffic was light. A turning point came when The Bon Marché purchased the former White Front building and moved its downtown Everett operation to the mall. The store opened in February 1977 and encouraged other retailers to commit to the project. Additional construction followed, including a second triplex cinema and a south-wing expansion. That expansion opened in 1980 with a two-story Frederick & Nelson department store, a Payless Drug location, and more than 50,000 square feet of mall shops. The mall's anchor roster changed again after Frederick & Nelson declared bankruptcy. Mervyn's acquired the lease and opened in the former Frederick & Nelson space in July 1992. During the late 1990s, management proposed a much larger expansion that could have added hundreds of thousands of square feet, a multiplex, a hotel, and restaurants. Financial problems prevented that plan from proceeding. Titanic Associates defaulted on its borrowing, and the property entered receivership in 2000. By 2001, the owner had accumulated substantial debt and transferred the mall to Equitable Life Assurance Society of New York. Equitable appointed Madison Marquette to manage the asset and develop a more practical expansion program. Equitable sold the mall to Steadfast Commercial Properties in June 2004. The new owner began the Everett Mall Village project, combining exterior renovations with a power-center-style expansion. Best Buy, PetSmart, Old Navy, Borders, and Bed Bath & Beyond were among the announced tenants. Regal Cinemas also committed to a 16-screen theater, which opened in July 2006 and replaced earlier triplex and smaller multiplex operations. The expansion was completed during the middle of the decade, and restaurants and other service businesses subsequently joined the tenant mix. The mall nevertheless faced continuing anchor turnover. Mervyn's closed its Washington stores in the late 2000s; its former space was divided between LA Fitness and Steve & Barry's. Steve & Barry's entered bankruptcy and closed, after which Burlington occupied the space in 2013. Borders liquidated in 2011. Steadfast later encountered financing problems, including default on a large loan, and Canyon Partners joined the ownership structure after negotiations that avoided foreclosure. The new investment helped bring in Burlington, Party City, and Ulta Beauty. Macy's closed its Everett Mall store in 2017, and Floor & Decor later took over the space. Brixton Capital acquired the original mall property in October 2017, while JLL assumed management and leasing. The transaction excluded certain related portions, including the former Macy's space and the Village. Sears announced its closure in 2019. Bed Bath & Beyond subsequently announced that it would close at the end of 2020; HomeGoods later opened in the vacated space. Famous Dave's closed its Everett restaurant in 2022. In August 2022, Brixton Capital announced a redevelopment aimed at reducing the center's dependence on a traditional enclosed layout. The plan included removal of the central mall and food court, additional surface parking, new shops, and a reduction of approximately 20 percent in overall space. The Sears building was slated for demolition and replacement by At Home. Work began in 2023 with MG2 and Bayley Construction involved in the project. Ulta Beauty planned to relocate into the former Sears area, and Trader Joe's pursued a liquor license indicating a possible move into that building. The redevelopment represents the latest phase in Everett Mall's long transition from a conventional department-store mall to a mixed indoor-outdoor retail destination.

• 2022

  Redevelopment plan announced

  [1]Everett Mallen.wikipedia.org

  Brixton proposed a smaller, more open retail layout with new parking and replacement large-format stores.

• 2017

  Brixton Capital acquires the mall

  [1]Everett Mallen.wikipedia.org

  Brixton Capital purchased the original mall property and appointed JLL to manage it.

• 2006

  Regal 16-screen theater opens

  [1]Everett Mallen.wikipedia.org

  A major multiplex opened as part of the center's modernization and expansion.

• 2000

  Property enters receivership

  [1]Everett Mallen.wikipedia.org

  The mall entered court-ordered receivership following an owner loan default.

• 1992

  Mervyn's replaces Frederick & Nelson

  [1]Everett Mallen.wikipedia.org

  Mervyn's opened in the former Frederick & Nelson anchor space after Frederick & Nelson's bankruptcy and closure.

• 1980

  South wing expansion opens

  [1]Everett Mallen.wikipedia.org

  The expansion added Frederick & Nelson, Payless Drug, and new shop space.

• 1977

  The Bon Marché opens

  [1]Everett Mallen.wikipedia.org

  The department store's arrival initiated a significant recovery in leasing and customer traffic.

• 1974

  Everett Mall opens

  [1]Everett Mallen.wikipedia.org

  The enclosed shopping mall opened after construction delays and with substantial vacant retail space.

• 1971

  White Front opens

  [1]Everett Mallen.wikipedia.org

  White Front became the second major anchor, although it later entered bankruptcy before the mall had fully stabilized.

• 1969

  Sears opens on the future mall site

  [1]Everett Mallen.wikipedia.org

  Sears opened the first major store on the property, establishing the suburban retail site before the enclosed mall was built.

A convenient, value-oriented regional shopping center combining enclosed-mall retail, large-format stores, outdoor shopping, dining, entertainment, and services for Everett and the surrounding Puget Sound suburbs.

• Shopping center · 1974

  Enclosed mall retail

  The original enclosed portion provides conventional mall units for apparel, beauty, specialty retail, discount merchandise, and services. Its tenant roster has changed repeatedly as department-store anchors and national chains have entered, closed, or been replaced.

• Outdoor retail · 2007

  Everett Mall Village

  The Village is the outdoor, power-center-style component developed during the 2000s expansion. It broadened the property beyond traditional enclosed-mall retail with large-format stores, restaurants, and direct-access exterior storefronts.

• Entertainment · 2006

  Regal Cinemas Everett

  Regal's 16-screen multiplex opened in 2006 as a major entertainment anchor. It replaced smaller theater operations associated with the mall and nearby sites and added a substantial cinema destination to the retail complex.

• 2022

  Traditional mall redevelopmentStrategy

  Background

  Anchor closures and long-term changes in American retail reduced the suitability of the existing enclosed layout.

  Action taken

  Brixton Capital proposed demolishing the central mall and food court, adding outdoor parking and new shops, reducing total area, and replacing Sears with At Home.

  Aftermath

  Redevelopment began in 2023, with Ulta Beauty planning a relocation and Trader Joe's pursuing a liquor license associated with the former Sears area.

  Source

• 2004

  Expansion into Everett Mall VillageStrategy

  Background

  The property needed a stronger tenant mix and a more competitive format after earlier financial and occupancy problems.

  Action taken

  Steadfast advanced an exterior retail expansion with large-format stores, renovations, and a new multiplex cinema.

  Aftermath

  The project added major retailers and shifted the center toward a mixed indoor-outdoor shopping model.

  Source

1. 1Everett Mallen.wikipedia.org
2. 2Everett Mall official websiteshopeverettmall.com