Celebration Center Development Moves Ahead
June 14, 2012
Federal Way, WA— Portland based Harsch Investment Properties, is pleased to announce that it has reengaged its development plans for Celebration Center, a retail shopping center on the SW corner of Pacific Highway and South 320th. The Center is anchored by Ross Dress for Less, Michael’s Arts & Crafts and Rite Aid. “When the economic downturn hit, we put everything on hold. Now the time has come to complete what was started,” said Randy Kyte, Senior Vice President and Director of Development for Harsch. The first three of five phases of the project were completed between 2003 and 2007. Demolition of the former Osh Kosh, Trader Joe’s and Fabricland spaces began in late May. The fourth phase of the project will see the re-alignment of the storefront for one of the key tenants of the Center, Ross Dress for Less, who has very successfully operated in the Center since 1990. Ross’ storefront will 
be increased from a width of 25 feet to 114 feet, increasing Ross’ overall store size by 3,500 sf. In conjunction with the Center’s remodel, Ross Dress for Less is completing a renovation of the interior of its store providing an enhanced shopping experience for its customers. The overall square footage of the Center will be reduced by approximately 16,000 SF, and two new spaces totaling 3,500 SF will be created. In addition, the parking lot is being re-graded, and re-striped making it more friendly to both pedestrian and vehicle traffic. New signage and enhanced storefronts will add to the attractiveness of the Center.

The renovation of the Center will also create an opportunity to add an additional 20,000 square foot building in the future as market demand for retail space increases. “We’re very excited to be getting this project under way again,” said President of Harsch Investment Properties, Jordan Schnitzer. He has reason to be optimistic as there have been some promising retail developments in the Federal Way area. Two new stores, Tuesday Morning and Home Goods, will open later this year at SeaTac Village, a nearby property managed by the Company.

About Harsch Investment Properties
Harsch Investment Properties is a privately held real estate company that acquires, manages and develops properties for its own portfolio. Founded in 1950, the company owns and operates 20 million square feet of office, multi-tenant industrial and retail properties in five western states. Headquartered in Portland Oregon, Harsch has regional offices in Portland, Seattle, San Francisco Bay Area, Sacramento, Las Vegas, and San Diego.