Fred Meyer will be the new strip mall's largest anchor. ThePortland-OR based chain is constructing one of its new prototypestores, a 165,347-sf full-service property with a grocery and deli,jewelry store, and other departments including housewares, apparel,garden, and home-improvements. Home Depot, the second largest ofthe two anchor stores, purchased its 12.5 acre pad in the centerfrom Johnson Underwood Properties for $11.75 million. According torecords, the home-improvement chain will build a 130,740-sfproperty there, consisting of a 115,000-sf store and 14,000-sfgarden center. In term of overall sales volume, Home Depot is theworld's largest home-improvement retailer.

The final 110,000-sf of retail is being occupied by a Starbucks,AT&T Wireless, In Spa, a Key Bank branch and two restaurants,the Coho Café and Pallino Pastaria. The leasing agent is DorrieJohnson of Redfield Real Estate in Bellevue. Johnson tells GlobeStthe cost the development will run $56 million, exclusive of thecost of building the Fred Meyer and Home Depot stores. Altogether,the developer estimates a total cost between $70 million and $75million. The general contractor is Construction Associates. DykemanArchitects of Everett designed the project.