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Colorado company contemplating mall purchase
By ERICA JAHN
Money hasnt changed hands, but a real estate partnership in Colorado has expressed interest in buying SeaTac Mall.
Its a serious interest, mall spokesman Eric Mattison said. Theyre asking questions.
They are people at GDA Real Estate Services LLC, a Denver-based company with ownership ties to several properties in the Puget Sound region, including the Everett Mall Plaza, the Willows 24 office building in Redmond, the First West Building in Lower Queen Anne, the Transnation Building in Bellevue and Intracorps headquarters building in Belltown.
GDA Real Estate Services owns about 40 shopping centers in several western states. Manager Gary Drugal did not return calls to the Mirror by press time.
City planners have long wanted to redevelop SeaTac Mall, now in its 27th year, to keep shoppers in the city and boost local revenue. About half of the citys retail dollars leave Federal Way, said Patrick Doherty, the citys deputy director of community development.
Thats a pretty big leakage factor, he said.
Ultimately, city planners want the mall to help the city realize its vision for the downtown core.
University Village is one example of the shopping experience city officials would like to bring to Federal Way. A pedestrian-friendly area with housing and office space would be nice, too.
Wed like to see more redevelopment that would bring more pedestrians, Doherty said. Its good news for anyone to take over the mall.
Staff writer Erica Jahn can be reached at 925-5565 and email@example.com