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Retail Market Study

Retail Market Analysis: Downtown

  • There is over 2.5 million sq. ft. of Retail Space

  • Average Retail Lease Rates are around $20.57 sq. ft

  • Compared to national openings and closings of retails, Federal Way has maintained a strong and healthy retail foundation with a well-balance store mix – largely serving the middle market.

  • While e-commerce grew 5.1% in 2007 to 14.3% in 2018, to Federal Way’s credit and market strength, store-based retail sales grew overall by 10.5%.

  • Downtown is centrally located within its Trade Market Area of 243,000 plus residents and has easy and convenient access to Interstate 5 and Pacific Highway, (Highway 99).

  • Federal Way currently could support nearly 1 million sq. ft. in new retail space.

  • Through 2024/2025 analysis identifies that Federal Way could potentially support nearly a projected additional 2 million square feet of retail.

  • Key Projected Retail Demand:  Clothing and Clothing Accessories; Electronics and Appliances;

  • Health & Personal Care and Miscellaneous Retailers.


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