November 12, 2014

Redmond Town Center adds tenants, turns street into pedestrian pavilion

Image courtesy of Hewitt [enlarge]

JSH Properties said Redmond Town Center, an open-air mall in Redmond with retail, office space and two hotels, has landed five new retail tenants and is set for a renovation to make it more pedestrian friendly.

Guitar Center, Big 5 Sporting Goods, Evereve, Cow Chip Cookies and Jujubeet will take 27,300 square feet of space between them. The mall has about 700,000 square feet of retail space that is 90 percent occupied, according to a representative from JSH.

Bellevue-based JSH and New York City-based investment advisor DRA Advisors bought the retail portion of Redmond Town Center from Santa Monica, California-based real estate investment trust Macerich last year for $127 million. JSH is a minority owner and the property manager.

The renovation includes work on the common areas, additional signage, landscaping and prominent seasonal plantings. Crews will turn Northeast 74th Street, a vehicular street that runs through the mall, into a pedestrian pavilion. There will be more landscaping and seating, a shuffleboard court and an expanded water feature.

Some of the renovation work is underway, and the rest is scheduled to start in the first half of next year.

Hewitt, which was involved in the original planning of Redmond Town Center, is designing the renovation. Cavaliere Construction of Bellevue is working on some of the common area improvements, but a contractor has not been selected for the work on 74th, JSH representatives said.

Macerich sold the 582,000 square feet of office space at Redmond Town Center to Shorenstein Properties last year for $185 million. Tenants include AT&T and Microsoft.