LYNNWOOD — Kohl’s Department Stores purchased the Mervyn’s Lynnwood location, 3301 184th Street SW, from MDS Realty, according to Snohomish County property records. The $8 million deal for the 6.9-acre site and 20-year-old building closed on March 31.
The 76,772-square-foot Mervyn’s building, including the land, is worth almost $8.5 million, according to the County Assessor’s Office.
County records indicate MDS Realty bought the site from Mervyn’s in September 2004 for $8.76 million.
Mervyn’s announced last September plans to close stores statewide, including Lynnwood, by 2007 to improve profits. On Monday, a Mervyn’s spokeswoman confirmed the company still intends to close the Lynnwood store in January 2007.
Kohl’s, based in Menomonee Falls, Wis., did not return calls for comment earlier this week.
The former Grand Cinema Alderwood, located at Alderwood Mall Boulevard and 184th Street, was demolished in March to make way for a new Kohl’s department store. The 98,500-square-foot, two-story store could be open as early as November for the holiday season, according to Sterling Realty Organization, which owns the property.
In 1962, the Kohl family opened the first Kohl’s store in Brookfield, Wis. There are 741 Kohl’s department stores in 41 states, according to the company’s Web site.
Talk to us
> Give us your news tips.
> Send us a letter to the editor.
> More Herald contact information.
