FOR IMMEDIATE RELEASE
PCC — Fremont is the anchor tenant in the Block 40 building
Key player in Fremont Community expanding into new Fremont location
Seattle, WA (Sept. 13, 2002) — Fremont Housing Group LLC, an affiliate of Security Properties, Inc., announced today that PCC Natural Markets (PCC) will be the anchor retail tenant in its new building in Fremont, now under construction at N 34th Street and Fremont Avenue North in central Fremont. PCC, a locally owned and operated company, has been a mainstay in Fremont since 1996. "When we started working with the Fremont community in mid-2000, " notes Security Properties Senior Vice President John Marasco, "the first thing we heard was that PCC should be in our building. PCC is a key player in Fremont. It's a great fit for us and for the community."
This will represent a major expansion for PCC in Fremont, with nearly a doubling of space and more than triple the parking. PCC will occupy 20,500 square feet and will enjoy major street exposure on both N 34th and Evanston Avenue N. The main store entrance will be at N 34th Street and Evanston Avenue N, directly across the street from the new location of the Red Door tavern.
Although the PCC lease is the first to be signed for the Fremont Housing building, it is also true that every first-floor retail space is now under a letter of intent. Comments Marasco, "It is extremely unusual, in the current leasing atmosphere, to have this level of commitment in an unfinished building. Other new retail spaces in Fremont have been empty for more than a year."
Lillian Cawdrey-an advisory council member through most of the design effort-is an owner of the family-owned and operated Fremont Fresh Market. Lillian comments, "We knew early on that Fremont Housing Group was interested in a grocery, and we knew we could support PCC as part of this community. We feel PCC and our business complement each other, to the overall benefit of Fremont: We complete, not compete. We're always glad to see another locally-owned company expanding."
The Block 40 mixed-use building is slated for completion in spring 2003. In addition to the 20,500 square feet taken by PCC, there are 4 additional retail spaces at street level, as well as a second story space complete with outdoor deck. In total, the project brings over 30,000 S.F. of new retail space to Fremont plus two live/work studios along the alley. There will be 128 market-rate apartments, ranging from studios to two bedrooms contained within the residential portion of the development. Residential leasing will start in early 2003. Second-floor retail or restaurant space is still available in the building facing Fremont Avenue N.
Upcoming news on the Block 40 building — announcement of major art pieces, a name for the building, environmental aspects of the building.