Former Sears, Rite Aid buildings get new tenants, plus an area credit union has a new CEO
The long-vacant Sears building in Lacey has a new owner and a future tenant, J&I Power Equipment co-owner Greg Longnecker told The Olympian this week.
The Longnecker family, which operates a store on Pacific Avenue Southeast in Olympia and in Yelm, acquired the property at the end of January and expects to move the Olympia store into the former Sears building in the next 8-12 months, he said.
“We’ve been kind of looking for a bigger footprint,” Longnecker said, adding that they have two buildings on Pacific Avenue, a showroom and warehouse, that total about 25,000 square feet.
The Sears property provides a little over 80,000 square feet, giving them plenty of room to grow, he said. Not only that, the site has great visibility, ideal I-5 access and a huge parking lot.
The space does need to be renovated, he said.
“This allows us to get into a larger state-of-the art facility,” Longnecker said.
They also don’t have to move far. The current J&I Power site in Olympia is about a half-mile from Sears, he said.
J&I also has a store in Yelm. The business sells, provides parts and offers service on lawn, small farm and construction-related equipment, including for three key brands: Kubota, Stihl and Honda.
Sears closed in early 2020.
Former Rite Aid building getting a new tenant, too.
Not far from Sears is a former Rite Aid Building. It currently is being renovated for a “specialty grocer,” according to city of Lacey information.
The tenant improvements were sought by Capital Development Co., the owner of South Sound Center.
“We have completed our review of the design and landscape materials submitted for the Specialized Grocer (tenant improvement) at 691 Sleater Kinney, Lacey, WA,” a city planner said in some correspondence shared with The Olympian. “We are pleased to inform you that the Design Review elevations have been approved by Community Planning and Economic Development and they meet the conditions outlined in Chapter 14.23 of the Lacey Municipal Code.”
The Rite Aid store at that address was one of two that closed in Thurston County in 2023 after the company sought bankruptcy protection. They still operate two stores here: one in west Olympia, the other in Lacey at Yelm Highway and College Street.
2 new Lacey businesses
A bubble tea business called Share Tea has opened in a new development that already has a Mod Pizza, Five Guys Burgers, Chipotle and 7-Eleven at Pacific Avenue and Sleater Kinney Road.
Learn more about Share Tea here.
And next door, although not opened yet, is a future Banfield Pet Hospital.
Trading Post opens in Tumwater
The Squaxin Island Tribe has opened a Trading Post at 7000 Littlerock Road SW, which is near Israel Road, the tribe announced in a news release.
The Trading Post is a convenience store and fuel station, offering fresh deli options and its signature Scratch Chicken, the release reads.
A blessing ceremony was held on Feb. 28 with the tribal council, Island Enterprises board members and other members of the Squaxin Island community.
Participants gathered in prayer and song to set positive intentions for all who will work, visit, and gather at the new store, according to the release
“This store represents more than just growth—it’s an investment in our people and a testament to our ability to build a thriving, resilient economy,” said tribal Chairman Kris Peters in a statement. “We are grateful for the workers who make this possible and welcome them as part of our Squaxin family. We deeply value our partnership with the city of Tumwater and we take pride in being good neighbors.”
New CEO for TwinStar Credit Union
David Tuyo is the new chief executive of TwinStar Credit Union, the financial institution announced this week.
Tuyo will succeed longtime CEO, Jeff Kennedy, who is retiring after nearly 40 years of service.
Tuyo comes to the Olympia area from California where he had served as president and CEO of University Credit Union in Los Angeles since 2017.
“Under his leadership, the credit union more than doubled its assets and members while significantly expanding its geographic footprint,” a news release reads.
Tuyo officially begins his new job on May 1. However, he and retiring CEO Kennedy are already working together to ensure a smooth transition for the cooperative, according to the release.
The new CEO previously held senior level positions at various financial institutions, including Power Financial Credit Union, USAlliance Federal Credit Union and PenAir Federal Credit Union.
TwinStar board chairman Thomas Pettus-Czar praised Kennedy’s tenure as chief executive.
“We are grateful for Jeff’s nearly 40 years of service,” he said in a statement. “He has led our credit union with compassion for the lives of our members and their financial well-being, while building a strong foundation for the future of our organization. The entire Board of Directors extends its congratulations and best wishes on his very well-deserved retirement.”
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.
This story was originally published March 14, 2025 at 5:00 AM.
