Tenant trade

| Print |  Email
Articles - May 2012
Monday, April 23, 2012

By Christina Cooke

0512_Dispatches_Retail_01
LA Fitness has filled a vacancy at the Lloyd Center mall in Portland.
// Photo by Alexandra Shyshkina
You can still buy shoes and shirts at the Lloyd Center mall in Portland. But, as of the last few years, you can also sculpt your biceps, get a pelvic exam, have your cavities filled and watch football on TV.

To cope with vacancies left by the recession, the urban mall has added non-retail establishments such as LA Fitness, the Johnson Center for Pelvic Health, Carrington College dental and nursing schools and the Buffalo Wild Wings sports bar to the retail mix.

We’ve got the advantage of being in the Lloyd District, so there are a lot of uses that can cater to the people who live and work in the area,” says T.J. Drought, the director of leasing for Glimcher Realty Trust, the Ohio-based company that oversees the mall.

When regional vendors of specialty goods and national big-box stores like Borders, Linens ’n Things, Circuit City, Blockbuster and Hollywood Video succumbed to the ailing economy, Oregon mall and shopping center landlords had to adapt their leasing strategies to fill the vacancies.

Many responded by bringing in service providers, especially medical and dental clinics and fitness centers, and adding entertainment venues like bowling alleys and sports bars.

I’ve worked with a lot of owners who have learned to look outside the box,” says Dan Bozich, senior vice president of Urban Works Real Estate. “As the economy got more difficult, they started to look at nontraditional tenants as more of a positive and less of a negative.”

Valley River Center in Eugene temporarily housed Grand Slam USA batting cages. Pioneer Place in downtown Portland leased empty third-level atrium spaces to temporary art exhibits and the Dollar Book Fair. Tanasbourne Town Center in Beaverton, Keizer Station outside Salem and Eugene’s Valley River, as well as multiple urban shopping centers, welcomed dental clinics to their properties. And in Vancouver, the Living Hope mega-church took over the former Kmart on Andresen Road.

“The good thing about those uses is typically they’re more short-term leases, and it creates flexibility for the landlord,” says Alesha Shemwell, a senior leasing manager for The Macerich Company, which works with Washington Square and Valley River. “It keeps the occupancy the mall needs to continue to attract customers.”



 

More Articles

5 schools helping students crack code

The Latest
Thursday, January 29, 2015
codeduthumbnailBY JACOB PALMER | OB DIGITAL NEWS EDITOR

As the costs of college mount, and as employer demand for software developers soars, coding schools and classes are popping up everywhere.


Read more...

Photos from the 100 Best Companies to Work For in Oregon awards celebration

The Latest
Friday, February 27, 2015
IMG 9975cneditPHOTOS BY JASON E. KAPLAN

Images from the 2015 celebration of Oregon's great workplaces.


Read more...

Chronicling Gov. Kitzhaber's march to resignation

The Latest
Wednesday, February 11, 2015
021115-kitzhaber-jekaplan14-thumbBY JACOB PALMER | OB DIGITAL NEWS EDITOR

Recapping a wild week featuring plenty of will he or won't he resign drama.


Read more...

Grassroots movement pursues carbon bills

News
Tuesday, February 24, 2015
eventthumbBY KIM MOORE | OB RESEARCH EDITOR

A partnership of a grassroots environmental organization and a youth group is striving to build community and business support for carbon price legislation.


Read more...

Light Moves

February 2015
Monday, January 26, 2015
BY JACOB PALMER

Fittingly, Light at Play — a business whose sole purpose is to create mesmerizing ambience — was conceived at Burning Man.


Read more...

Closing the Gap: The two Oregons and the way forward

February 2015
Monday, January 26, 2015
BY JOE CORTRIGHT

"Nostalgia is not an economic strategy."


Read more...

Live, Work, Play: Amen Teter

February 2015
Tuesday, January 27, 2015
BY JACOB PALMER

Catching up with Amen Teter, Portland-based global director of action sports for Octagon Olympics & Action sports talent agency.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS