Downtown Seattle’s largest mall — built as part of the city’s urban renewal efforts of the ’90s — sold last month for $88.25 million, about a quarter of its value a decade ago.
When Pacific Place changed hands in 2014, it was nearly full. Today, it’s 55% vacant. That’s one symptom of what Jennifer Seversen, who’s been leasing retail properties in and around downtown Seattle for decades, calls the “quintuple whammy” that hit downtown Seattle retail in the aftermath of the pandemic.
For the full story, go to the Puget Sound Business Journal.
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