Sale To Bring New Life To Everett Mall

October 2, 2017

Everett Economy

Everett Mall

The new owners say the first thing they will do is give the Mall some much needed TLC.

Everett Mall

The Macy’s building was not included in the sale.

Growth, opportunity, evolution. Those were the words used by Craig Pettitt, vice president of mall operations for Brixton Capital in describing why his company bought the Everett Mall on Friday.

“It was a fast sale,” said Pettitt. “It closed in about 45 days.” No purchase price or terms were disclosed.

This is the fourth mall purchased by Brixton Capital in the last 18 months. Brixton is a private real estate investment firm based in Solana Beach California.

Pettitt told in a brief phone conversation Monday that he likes what he sees in Everett given the projected growth for our area and the chance to develop something for the future.

“To start we’ll give the mall some much needed TLC as we work on our future plans,” he added.

Those plans could include mixed use including adding office space, residential development or both. One immediate need will be to work with the owner of the Macy’s property at the north end of the mall. That building was not included in the sale. The strip mall on the west side of the Mall across from Sears is also not part of Friday’s deal.

“We’ve been very successful with our retail properties,” said Pettitt. “We’re going to make Everett Mall relevant again, imagine a new town center.”

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My Everett News is a hyperlocal news website featuring news and events in Everett, Washington. We also cover City of Everett information and items of interest to those who live and work in Everett.

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