Sierra, the off-price outdoor retailer owned by The TJX Companies, is taking over the former Rite Aid space at Alderwood Plaza in Lynnwood, with an opening planned for early May. The deal turns a big-box pharmacy into a bargain-focused outdoor store stocked with apparel, footwear and camping gear. For Alderwood-area shoppers, that translates to closer access to discounted hiking boots, sleeping bags and activewear just across from Alderwood Mall.
Store Details and Square Footage
According to the Puget Sound Business Journal, Sierra will set up shop in the former Rite Aid unit at Alderwood Plaza. Merlone Geier Partners' leasing page for the center shows Sierra Trading Post on the site plan and pegs the incoming store at roughly 22,255 square feet, making it one of the property’s larger anchors. With national value players such as Ross and HomeGoods already at the plaza, Sierra will drop into a lineup that is designed to pull steady bargain-hunting traffic.
When the Doors Will Open
Local coverage indicates the Lynnwood store is scheduled to open in May, with the Lynnwood Times citing a grand-opening date of Saturday, May 9. “As the only off-price retailer dedicated to active and outdoor, we’re committed to making top brands and quality gear attainable at great value,” Jill Tully, VP of marketing at Sierra, told Connect CRE. The timing sets Sierra up to catch the spring outdoor shopping rush and the heavy weekend flow along the Alderwood mall corridor.
Part of a Wider Expansion
The Lynnwood lease plugs into a broader national growth strategy for TJX. In a Feb. 25, 2026 earnings release, the company said it plans to open about 24 new Sierra stores across the United States as it builds out the banner’s brick-and-mortar footprint. The company has been putting money behind its off-price concepts while continuing to add new locations and support e-commerce.
Why a Pharmacy Space Became a Gear Shop
The vacancy can be traced to recent turmoil at Rite Aid. Bankruptcy filings and subsequent sales and closures at the chain have opened up sizable boxes in shopping centers across the country, a trend covered by national outlets. In the Alderwood corridor, landlords have been reworking or relisting former pharmacy spaces to lure value retailers, according to the property’s listing with Merlone Geier Partners. Repurposing these big, boxy footprints is a fast way for centers to refill anchor slots and keep visitor traffic from dropping off.
What It Means for Shoppers
For Lynnwood residents, Sierra brings a national off-price option that zeroes in on active and outdoor merchandise, landing alongside the plaza’s existing discount anchors and potentially lifting weekend visits. The new tenant also highlights how local retail corridors are being reshaped as major pharmacy chains pull back and off-price and specialty discounters move in to claim that real estate.
