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 r…

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.

1. 2022Redevelopment plan announced

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

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2. 2017Brixton Capital acquires the mall

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

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3. 2006Regal 16-screen theater opens

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

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4. 2000Property enters receivership

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

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5. 1992Mervyn's replaces Frederick & Nelson

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

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6. 1980South wing expansion opens

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

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7. 1977The Bon Marché opens

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

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8. 1974Everett Mall opens

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

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9. 1971White Front opens

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

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10. 1969Sears opens on the future mall site

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

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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.

• Enclosed mall retailShopping center1974

  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.

• Everett Mall VillageOutdoor retail2007

  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.

• Regal Cinemas EverettEntertainment2006

  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.

• 2022Traditional mall redevelopmentStrategy

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

  What changed. 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.

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• 2004Expansion into Everett Mall VillageStrategy

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

  What changed. 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.

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• 2023Everett Mall redevelopment begins

  Work began on the redevelopment, with Ulta Beauty expected to relocate into the former Sears area and Trader Joe's pursuing a liquor license connected with a planned move into the same building.

  Product launch
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• 2022Brixton announces Everett Mall redevelopment

  A redevelopment proposal called for demolishing the central portion and food court, reducing overall space, adding outdoor parking and shops, and replacing the Sears building with an At Home store.

  Product generation
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• 2017Brixton Capital acquires Everett Mall

  Brixton Capital, affiliated with Brutten Global, purchased the mall property and JLL took over management and leasing.

  M&ALeadership change
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• 2006Regal opens a 16-screen Everett Mall cinema

  Regal Cinemas opened a large multiplex, replacing earlier smaller theaters and strengthening the mall's entertainment offer.

  Product launch
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• 2004Everett Mall is sold to Steadfast Commercial Properties

  Equitable sold the mall to Steadfast Commercial Properties, which advanced a major renovation and outdoor retail expansion.

  M&A
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• 2000Everett Mall enters receivership

  Snohomish County Superior Court placed the property into receivership after owner Titanic Associates defaulted on a loan.

  Bankruptcy
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• 1980Everett Mall completes major south-wing expansion

  A new south wing opened with Frederick & Nelson, Payless Drug, and additional mall shops, substantially enlarging the center.

  Product generation
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• 1977The Bon Marché anchors Everett Mall recovery

  The Bon Marché opened in the former White Front building, helping attract additional tenants and improve the mall's weak early performance.

  Other
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• 1974Everett Mall opens after prolonged development delays

  The mall opened in October 1974 after construction interruptions, the Boeing-related regional downturn, and the bankruptcy of anchor retailer White Front left the center with limited occupancy.

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1. Everett Mall
2. Everett Mall official website