PCC Community Markets recently announced their plans to reopen a smaller-format store at the base of the Rainier Square building in downtown Seattle. The grocer had previously closed its full-format store at the same location in January, citing underperformance and unprofitability due to a decrease in the number of office workers in the area. The new 6,500 square-foot store will feature hot and prepared foods, as well as a limited selection of grocery items. PCC will also relocate its corporate headquarters office to the same space next year, from its current location on Elliott Avenue.
The decision to reopen the downtown store and move the corporate office came after a challenging period for businesses in the downtown Seattle area. A decrease in foot traffic due to the shift to remote work policies by many companies, including those in the tech industry, has led to high office space vacancy rates. However, there are signs of a slow return to office work, with companies like Amazon and the City of Seattle increasing in-office work requirements for employees. PCC hopes that the convenience of having a lunch option nearby will attract more workers back to the downtown core, despite the overall challenges facing the area.
PCC’s return to the Rainier Square building is part of their commitment to a long-term lease at the location and aligning their values as a co-op. CEO Krish Srinivasan expressed the importance of saving unnecessary rent expenses and finding a space that reflects the company’s values. The reopening of the downtown store in 2022 comes after delays caused by the pandemic and addresses the lack of grocery store options in the area. The grocer operates 15 other stores in the Seattle region, with plans for the smaller-format store to offer a convenient shopping option for downtown residents and workers.
While downtown Seattle has seen a decrease in office worker foot traffic, other areas like South Lake Union and the Denny Triangle have experienced an increase in business activity due to the return of employees to the office. Amazon’s decision to mandate employees back to the office three days per week has also contributed to a boost in the local economy. The Rainier Square building, which was originally planned to be occupied by Amazon, will now host PCC’s smaller-format store and corporate office, further adding to the mix of businesses in the area.
Overall, PCC’s decision to reopen its downtown location and relocate its corporate office signifies a commitment to the Seattle community and the values of the co-op. Despite the challenges facing businesses in downtown Seattle, such as high office space vacancy rates, there are signs of a slow return to normalcy with companies increasing in-office work requirements. The convenience of having a grocery store option nearby may attract more workers back to the downtown core, contributing to the revitalization of the area. PCC’s reopening in 2022 reflects a sense of optimism for the future of downtown Seattle and the local economy.
