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©City Of Federal Way 2019

This website has been made possible with a grant from the Port of Seattle.

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.

     

Download the Full Report

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