Tarragon Property Services Celebrates 16 Years Of Sustained Growth At Kent Station
Kent Station has evolved into an open-air community center where locals and visitors gather to shop, dine, unwind, and celebrate; Two new retailer leases signed, and one expansion announced
KENT, Wash., Aug. 6, 2021 /PRNewswire-PRWeb/ -- Kent's downtown retail lifestyle center, Kent Station, is back and roaring after 18 months of the pandemic. And to top it off, Kent Station celebrated its 15th anniversary in November 2020 and is well into its 16th year of business. The anniversary marks the initial grand opening of the first phase of development in 2005, the first of four phases including the residential component, Dwell at Kent Station, which opened in 2016.
As of July 2021, Kent Station's retail component is 91 percent occupied, the highest it has been in the history of the development. This is an achievement under normal conditions but particularly exceptional during the Coronavirus pandemic. With 55 tenants, almost half (25) consists of the original opening mix of retailers at the urban village.
Kent Station Adds Two New Retailers
Opening this fall, Daiso, a popular Japanese variety retailer selling household goods at affordable prices will be located across the street from Duke's Seafood. Also opening in the fall, Honest Nails, a high-quality nail salon and spa will be located adjacent to Trapper's Sushi. Along with these two new additions, Buds & Blooms, a flower and gift shop, will be expanding its space and doubling in size by the end of the year.
Apartment Complex, Dwell, Nearly Fully Leased
Dwell, the 154-unit luxury apartment complex is now 98 percent leased, higher than before the start of the pandemic. Residents say that part of the apartment homes appeal and high occupancy is its unique amenity of a second-floor deck with an outdoor fireplace, hammocks, table tennis, and a bocce ball court. Dwell residents enjoy the convenience of having the Kent Station retailers, restaurants, and events right at their doorstep.
Events!!! and More at Kent Station
Kent Station is seeing between 500 and 1,500 patrons at each of its annual Wednesday evening Summer Concert Series events. This year, and in partnership with the City of Kent, Kent Station has added a farmer's market to complement the concerts, boosting even more foot traffic to the historic downtown core.
In its ongoing commitment to the community, Kent Station held numerous charity events throughout the challenged pandemic year. These include multiple drive-through food donation events benefitting the Kent Food Bank and a school supply drive for the Kent School District. Kent Station also partnered with STAR 101.5 radio and the Washington Department of Health to host a pop-up vaccination event.
In June, the annual event Ladies Night Out, raised $4,000 for Kent Youth and Family Services, a local non-profit organization that has been servicing disadvantaged youth for more than 50 years.
On August 22, 2021, there will be the Cruisin' Kent Car Show benefiting the American Cancer Society. Kent Station continues to have ongoing pop-up blood drives in partnership with Bloodworks NW, which recently surpassed 1,500 donors. Kent Station is part of a growing local community of non-profit organizations, events, and causes that have joined forces together and has become known as the Kent Community Partners.
Retail Sales at Kent Station Matches Overall Revenue Sales Numbers from 2019
The COVID-19 pandemic brought about new challenges for Kent Station to navigate but nonetheless, the property management team and retailers found creative ways to keep Kent Station running while ensuring the health and safety of the residents and visitors. It is now safe to say that according to Tarragon Property Services' measurement data, overall store sales have recovered to levels comparable to sales numbers in 2019, which was prior to the pandemic.
"We all know 2020 as the pandemic year, which gave us the most challenging year ever for anyone in the retail industry," said Tina Pappas, president of Tarragon Property Services. "I am proud of how our team worked with our retailers and the community to adapt and position Kent Station as a bustling urban village, featuring exceptional retail, shopping, dining, and entertainment experiences."
"Our property managers, tenants, and leasing teams communicated almost daily throughout this time," said Pappas. "The diversity of our real estate portfolio as well as the willingness of our tenants to hang in there helped us through this challenging time, and we were even able to increase our occupancy numbers. As Kent Station celebrates 16 years of growth and success, we look forward to all the good things the future holds."
# # #
About Kent Station
Conveniently located in the heart of downtown Kent, Washington, the 18.2-acre development of Kent Station offers exceptional retail, shopping, dining, and movie experiences. Completed its final phase of development in 2016, some of Kent Station's more iconic features include a 14-screen AMC Theatres, a 30,000 square foot plaza, and a branch of Green River College. Visit Kent Station online at https://www.kentstation.com/.
About Tarragon Property Services
Tarragon Property Services manages a diverse portfolio of long-term real estate holdings for retail and commercial properties. The Tarragon portfolio includes multifamily, industrial, office, and retail. For more information, visit https://www.tarragon.com/properties/category/management/.
Media Contact
Aaron Blank for Tarragon Property Services, Fearey, +1 206-343-1543, [email protected]
SOURCE Tarragon Property Services
Share this article