Maple Valley Commercial Space Asking Big City Rates

Several months ago I was looking into some of the soon to be built Commercial Retail space at Four Corners behind the existing Do It Center hardware store. The complex, which has yet to be built, was being advertised on the Commercial MLS, however no rate information was posted. After talking with the listing Broker about timeframe and availability, I inquired what the asking rate was….and then nearly dropped the phone when he told me they were asking $40 per sq.ft for an end cap (Highway 169 frontage). I couldn’t help myself, I chuckled and told him “Well, good luck with that” and ended the conversation. According to the Seattle Times, this is higher than what tenants pay in Seattle ($31 per square foot). Perhaps this is why several small businesses at the newly developed Maple Valley Commons have closed their doors such a short time after opening.

It’s the tale of Supply and Demand. Current Maple Valley Zoning does not afford much opportunity for commercial development and the City has long been struggling to get a firm grasp on which direction it would like to go with respect to Commercial growth. For quite a while, the City has maintained an “anti big-box” policy, not allowing any commercial development over 60,000 square feet. But with continued Residential growth comes a demand for services. Currently the City is losing precious revenue to the City of Covington, just a short 10 minute drive away, and is in the process of reconsidering it’s position on Commercial Development.

Maple Valley is a beautiful community with much to offer; scenery including numerous  lakes, Cascade Foothill & Mt. Rainier views, the Cedar River trail, excellent proximity to Skiing at Snoqualmie pass, along with a very strong school district…the growth is happening and I’ve no doubt the City will find it’s Commercial identity while maintaining all that make Maple Valley such wonderful place to live and raise a Family.

©2008 Colleen Fischesser RE/MAX Select RE