A new store expects to open in June, and an investor makes a bid to buy an Olympia bank
Coastal Farm & Ranch is set to open a new store in Lacey in early June, the business announced this week.
The store will be at 5500 Martin Way East in the old Shopko building. It will be the sixth Coastal store in the Seattle region.
The new store features nearly 61,000 square feet of indoor floor space and about 26,000 square feet of outdoor storage packed with fencing and other supplies, according to a news release.
On opening day, the Lacey store will be stocked with thousands of bags of dog food and livestock feed, nearly 11,000 pair of boots and other footwear, 25,000 pairs of pants and enough fencing to circle the city twice. It also will have a pet wash station, according to the release.
What else will you find at the Lacey Coastal?
Workwear and boots, western fashions and clothing for men, women, and children. There’s also power tools, grills, stoves, fireplaces, tack, garden supplies, home décor, beekeeping accessories, as well as camping, hunting, and fishing gear.
Coastal Farm & Ranch is a West Coast chain that opened in 1963 and has existing stores in Auburn, as well as Gresham and Oregon City, Oregon.
Other business happenings
Washington Business Bank is about to get a new owner.
The 20-year-old bank, which operates one branch in downtown Olympia, announced this month that the bank has signed an agreement with an investor who will seek to acquire 100 percent of the shares of the bank through a tender offer to all shareholders.
The investor, Darragh Buckley, who lives in the Northwest, is offering $30 cash for each share of the bank, about double the current share price of $17.55. The bank’s stock trades on the OTC Pink Market under the ticker symbol WBZB.
The agreement is subject to state and federal regulatory approval and is expected to close in the second half of the year.
“He’s very smart and very successful and we’re excited to have him become part of the team,” said President and Chief Executive Jon Jones this week, adding that Buckley will eventually join the board of directors.
No other changes are planned. The bank will continue to operate as Washington Business Bank and Jones, senior management and staff will retain their roles, he said.
Why buy a bank? Buckley, who has a background in online payment systems, is interested in learning more about the banking business, Jones said. He also thinks Buckley’s technology background will lend itself well to improving the bank’s “processes and products.”
A Chipotle is taking shape in Lacey and appears close to opening. The new location is on Pacific Avenue near Sleater-Kinney Road Southeast and is part of a redeveloped shopping area that also has a new 7-Eleven store.
Once the store opens, Chipotle will operate four locations in the county. Three of those stores are in Lacey and one is at Capital Mall in Olympia.
In the mood for a scone? Well, you’re in luck. The Fisher Scone Wagon returns to Bayview Thriftway in Olympia from noon to 6 p.m. Monday, May 23, according to the Olympia Downtown Alliance newsletter.
What’s for sale? What else? Hot scones with raspberry jam, scone mix and strawberry shortcake.
If you know of a retailer, restaurant, coffee shop or other business that is opening, closing, expanding, remodeling, or changing its focus, send an email to reporter Rolf Boone at rboone@theolympian.com.
