IN GOOD COMPANY
RAINIER SQUARE
RAINIER SQUARE
The 75,000-square-foot shopping center on 9.35 acres was purchased for $4.15 million in June 2013. At the time of acquisition, Rainier Square was an under-performing 1960s-era property. Red Robin had long been a tenant at the center and, in 2015, relocated to its current location within the property as part of the site’s early repositioning.
In 2020, the original building underwent a major façade renovation that included raising the parapet and adding tower elements and architectural columns. Metal, stucco, and stone materials were used to modernize the appearance.
The property features a diverse tenant mix including Starbucks, Chipotle, Popeyes, Jimmy John's, MOD Pizza, Crumbl, Jamba, Dickey's Barbecue Pit, T-Mobile, The Habit Burger Grill, CosmoProf, Charter College, Indigo Urgent Care by MultiCare, Ted Brown Music, StarCycle, Yakima Sports Performance, Elite Academy, A-1 Driving School, Haute Ballroom, and Zulle Mediterranean Grill, Icy Tai, 1 UP Games, among others.
In 2024, the transformation expanded with the completion of two branded hotels, Home2 Suites and Tru by Hilton.
Rainier Square continues to evolve as a modern mixed-use destination serving both residents and visitors.
LOCATION
Yakima, WA
PROPERTY TYPE
Unanchored Retail
LAND SIZE
9.35 Acres
BUILDING SIZE
52,659 SF
PURCHASE PRICE
$4,150,000
SALE PRICE | RED ROBIN
$1,950,000
SALE PRICE | RETAIL STRIP
$3,700,000
PROJECT VALUATION
$51,500,000
RAINIER SQUARE BEFORE
RAINIER SQUARE WEST
The 20,000 square feet of retail space on 2.27 acres bordering the west side of the existing Rainier Square was purchased for $1.7M in May of 2014. The property was redeveloped and added a pad that was subsequently sold to a quick-service restaurant user for $1M in December of 2015. The appraised value of the remaining property was $4.75M in August of 2015.
LOCATION
Yakima, WA
PROPERTY TYPE
Unanchored Retail
LAND SIZE
2.27 acres
BUILDING SIZE
20,000 SF
PURCHASE PRICE
$1,700,000
SALE PRICE | PAD
$1,000,000
REMAINING VALUATION
$4,700,000
RAINIER SQUARE EAST
The 8 acres of land bordering Rainier Square was purchased in the spring of 2016 for $3.9M. The Property was developed as a 7,000 square foot strip center and a quick-service restaurant. The strip center and quick service restaurant were sold for $3.6M in June of 2017 and $2.41M in January of 2018.
LOCATION
Yakima, WA
PROPERTY TYPE
Unanchored Retail
LAND SIZE
8 acres
BUILDING SIZE
7,000 SF
PURCHASE PRICE
$3,900,000
SALE PRICE | RETAIL STRIP
$3,300,000
SALE PRICE | QSR
$2,410,000
REMAINING VALUATION
$21,000,000
(includes Home2 Suites)
RAINIER SQUARE EAST HC
Rainier Square East HC was developed as a 3,130 square foot build-to-suit for the quick-service restaurant Habit Burger. Habit Burger is a subsidiary of YUM! Brands, a well-known restaurant operator overseeing 49,000 restaurants. Since going public in 2014, Habit Burger has nearly tripled its number of locations to 275+.
LOCATION
Yakima, WA
PROPERTY TYPE
Unanchored Retail
LAND SIZE
0.76 acres
BUILDING SIZE
3,130 SF
SALE PRICE
$3,600,000
