The 75,000 square foot under-performing shopping center on 9.35 acres was purchased for $4.15M in June of 2013. Since that time, Rainier Square has been radically transformed from an under-developed and under-utilized 1960’s style-center, to the vibrant mix of dining, retail, hotel and commercial businesses it has now become. Today, the appraised value of the property, including the hotel, is valued at $48.5M.
In 2020 the original 1960’s building underwent an extensive facade update including raising the parapet, and adding multiple tower elements and columns, utilizing various metal, stucco, and stone materials to modernize the shopping center.
The property continues to improve, with StarCycle, CosmoProf, and Habit Burger joining the shopping center as tenants in 2020.