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A major refurbishing of the Village Square Shopping Center in Fircrest is designed to lure a an upscale grocery store.
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What’s That?
THE NEWS TRIBUNE
Published: August 30th, 2008 01:00 AM
What: A major refurbishing of Village Square Shopping Center

Address: 1115 Regents Blvd., Fircrest.

Owner/Developer: Transpacific Properties.

Principal: Jack Johnson; son Tyson manages the property

The property: Several tenants occupy the site, which comprises the former Manley’s Supermarket building – most recently an antique mall and now available for lease – and several smaller, one-story storefronts.

Architect: Zenczak & Partners.

Contractor: McConaghy Construction.

The new design: “What we wanted to do was create something rather unique,” Johnson said. “With the shaved cedar columns, we’re trying to give a look that’s substantive, something Northwest, something that looks strong, tall and handsome.” Architect B.Z. Zenczak describes the design as “Northwest Lodge.”

Tenants: Cost Less Pharmacy, one of a dozen tenants, is beside the former market. Among others are an insurance agent and law office, a cleaners, a styling salon and a dance studio.

Seeking a major tenant: Johnson said this week that he’s speaking with various contenders for the space. He’d prefer to sign an upscale grocery. “The people in the West End and Fircrest are starving for an upper-end store, good meats, good cheeses, produce that is fresh.”

Area demographics: “It’s kind of the gateway to the West End,” Johnson said. “High employment, income, education, and there are only two stores and Trader Joe’s.”

Cost: Johnson will not reveal the cost of the remodeling. According to records at the Office of the Pierce County Assessor-Treasurer, the land and improvements have a 2009 assessed and taxable value of $378,200, and the center was purchased last fall for $3.5 million.

The former owner: A Swedish pension fund. Johnson recalls, “I don’t know how they ended up buying a shopping center in Fircrest. They kind of ignored it through all of those years. They didn’t really manage or worry about it. One tenant hadn’t paid rent for three years.”

Johnson began asking for rent: The tenant replied, “The Swedes didn’t complain. Why are you?”

Traffic: Last year, Johnson commissioned a count of vehicles passing the center. “We did a traffic study. We were shocked. Last July (2007), it was 11,810 cars a day.”

Proposed completion date: Mid-September.

C.R. Roberts, The News Tribune

“What’s That?” is a regular feature compiled by The News Tribune business team. If you have a question about a construction project, contact staff writer C.R. Roberts at c.r.roberts@thenewstribune.com.


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