Tacoma, Washington, is a city that offers a unique blend of industrial and cultural attractions, making it an ideal location for retail space. With a population of around 210,000, Tacoma provides a sizable customer base for businesses. The city's deep-water harbor, Commencement Bay, and its history as the western terminus of the Northern Pacific Railroad have contributed to its nickname "City of Destiny." Today, Tacoma is home to a diverse range of industries, including manufacturing, retail, healthcare, and oil refining, with major corporations like True Blue Inc., Simpson, and Mars, Incorporated. The city's revitalized downtown area features attractions like the University of Washington Tacoma, the T Line light rail service, and a restored urban waterfront along the Thea Foss Waterway.
Tacoma's retail space for lease offers a prime opportunity for businesses to tap into the city's growing economy. With 65 retail spaces available for lease, businesses can choose from a range of options to suit their needs. The average annual rent per square foot is $22 USD, with sizes ranging from 100 square feet to 15,000 square feet. In addition to retail space, Tacoma also offers a range of other property types, including restaurants, medical offices, and office space. The city's restaurants, like Asado and The Fish Market, offer a unique dining experience, while medical offices like MultiCare Tacoma General Hospital and St. Joseph Medical Center provide essential healthcare services. Office space in Tacoma is also in high demand, with companies like Russell Investments and Simon Property Group having a presence in the city. Overall, Tacoma's retail space for lease offers a unique opportunity for businesses to thrive in a vibrant and diverse city.
What is the average cost per square foot for retail space in Tacoma?
The average cost per square foot for retail space in Tacoma is $22 USD per square foot, with available listings totaling 65 and average space sizes ranging from 2,756 square feet to a maximum of 15,000 square feet.
How do anchor tenants affect surrounding retail space leases?
In Tacoma, where anchor tenants like JC Penney, Macy's, and Nordstrom at the Tacoma Mall, owned by Simon Property Group, draw significant foot traffic, surrounding retail space leases are often influenced by the anchor's presence, with landlords potentially commanding higher rents and attracting a more diverse range of tenants, such as restaurants, boutiques, and services, to capitalize on the anchor's customer base, ultimately creating a more dynamic and attractive retail environment.
