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Meridian Plaza, located at 17528 Meridian E, Puyallup, WA 98373, is a retail strip center in the South Hill area, anchored by Fred Meyer. Built around 2000, it features multi-tenant spaces totaling approximately 20,000 square feet across two buildings.
Tenant mix includes grocery anchor, financial services (BECU), dining (Mis Tres Amigos), and services (T-Mobile, UPS Store). The property enjoys high accessibility via Meridian Avenue, with daily vehicle traffic exceeding 30,000, and proximity to Highway 512.
Market position is strong in a suburban retail corridor near South Hill Mall and Walmart. Demographics within 3 miles: 86,502 population, median household income $95,639, median age 37.2, supporting stable retail performance. Occupancy is approximately 90%, with rents at $24/SF NNN ($12.68/SF expenses), offering competitive leasing terms. Advantages include diverse mix driving footfall, ample parking, and signage.
Drawbacks encompass competition from larger centers and potential infrastructure wear.
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Hours of Operation
Hours
| Monday | 10:00 AM — 09:00 PM |
| Tuesday | 10:00 AM — 09:00 PM |
| Wednesday | 10:00 AM — 09:00 PM |
| Thursday | 10:00 AM — 09:00 PM |
| Friday | 10:00 AM — 10:00 PM |
| Saturday | 10:00 AM — 10:00 PM |
| Sunday | 11:00 AM — 06:00 PM |
Hours may vary on public holidays. Check with individual stores for specific holiday schedules.
Insights
Demographics and Footfall
The South Hill area of Puyallup has a population of 12,040 within 1 mile, growing to 86,502 at 3 miles and 181,903 at 5 miles. Household incomes average $95,639, with families comprising a significant portion, ideal for everyday retail categories. Footfall benefits from 30,000+ vehicles daily on Meridian Avenue, enhanced by anchor draw from Fred Meyer, though pedestrian traffic may be moderate compared to enclosed malls.
Tenant Mix and Occupancy
Tenant mix focuses on convenience retail, services, and dining, with anchors like Fred Meyer providing steady traffic. Current occupancy around 90%, with vacancies available for new entrants. Strong co-tenancy with national brands supports cross-shopping, but saturation in services category could limit expansion in similar niches. Operational quality is solid, with good maintenance.
Risks and Market Factors
Competition from nearby South Hill Mall (1.1M SF regional center) and big-box stores like Walmart poses risks to smaller retailers, potentially diverting higher-end sales. Rent levels are moderate at $24/SF base plus NNN, but escalating expenses and market saturation in grocery/services may pressure margins. Accessibility is excellent, but aging infrastructure from 2000 build could lead to future capex. Regional growth mitigates some risks.
Building Details
Detailed Market Analytics
City Snapshot
Puyallup, WA
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City Snapshot
Puyallup, WA
Comprehensive market intelligence for retail expansion in this city
