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CAPITAL DEVELOPMENT COMPANY LACEY, WASHINGTON |
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How Capital Development Came To Be:
Capital Development Company, founded in 1959 by its President, Robert L. Blume, began as a local real estate and property management firm constructing many of Lacey’s early subdivisions. The company quickly grew into a regional developer and property manager of retail shopping centers and office buildings.
The companies South Sound Center was the fourth regional center to be built in Washington State in 1966 and contained over five hundred thousand (500,000) square feet of enclosed mall shopping and perimeter stores. The Center created a downtown for Lacey and was the principle venue for event activities for Thurston County. The Center was also a catalyst for the companies’ growth in a variety of other business activities throughout the country over the last quarter century. South Sound Mall was converted to a Power Center with the addition of Target in the year 2001 and Kohl's in 2007.
Since the late 1990’s, the company has transitioned into single tenant, investment grade, long term leases with national investment grade tenants and currently has property in approximately 38 states.
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