|| Print ||
|Articles - May 2011|
|Wednesday, April 20, 2011|
Page 3 of 6
By national standards, Oregon is considered “under-retailed,” with 18.9 square feet of shopping center space per capita compared to the national average of 23.7 square feet. There are two major reasons for this. The state’s tougher-than-average land-use laws slow the spread of retail-friendly sprawl, and the lack of a sales tax limits the government’s incentive to rubber-stamp all retail requests in order to bring in more tax revenues.
But while Oregon’s 19 feet of shopping centers per person is low by U.S. standards, it is enormous compared to France and other nations that have embraced buying locally over chains. The average in most of Europe and Canada is closer to 2 square feet per capita.
For communities already defined by blighted commercial strips, the notion of becoming more like Paris is more than slightly complex. “You don’t solve this puzzle easily,” says Reeves. “It’s expensive and there’s not a lot of money out there.”
Further complicating matters is the fact that, as much as urban planners and retail consultants hate them, commercial strips kind of work. About 35,000 people drive up and down McLoughlin each day, and enough of them stop in to buy a car or a pawned guitar or a lap dance to keep those businesses open. Rents are low compared to the rest of the Portland area, and that’s not a bad thing for everyone.
“These areas do provide low-cost space,” points out Jerry Johnson of Portland-based real estate consultancy Johnson Reid. “Certain businesses are great businesses but only if they have low-cost space.”
Robert Bach, chief economist for California-based real estate firm Grubb & Ellis, argues that reports of the commercial strip’s death have been greatly exaggerated. “Strip centers are based on convenience,” he says, “and there will always be some demand for what they offer.”
Portland landlord Barry Menashe, who owns property in suburban strips in Beaverton and Gresham as well as downtown, also scoffs at the argument that commercial strips are doomed. “There’s still cars, neighborhoods, people, customers. They aren’t just going to go away.”
He has a point. But can commercial strips make the changes necessary to remain competitive? In some ways and in some areas, they already have. For one thing, strip centers are becoming more ethnically diverse. One fully packed center along Highway 99W, the Tigard Plaza, contains a fish and chips joint, a Chinese seafood market, an Italian Deli, an Indian imports store, a Vietnamese beef noodle soup house, an Asian grocery store, a pizza place, a Mexican tienda with fresh bread and money wiring services, a driving school, a tattoo and body-piercing shop, a co-ed fitness center, a barber shop and more.
The same low rent that enables a no-credit used car lot to survive also allows ethnic Chinese herb shops and bilingual beauty centers to take hold. The most prosperous example of diversity on a local strip may be the Fubonn Shopping Center on 82nd Avenue, billed “the largest Asian shopping center in Oregon.” Completed in 2005, Fubonn has transformed a formerly bland strip location into a lively collection of coffee houses and bubble tea shops, Vietnamese restaurants and shops selling books, music and jewelry. Just down 82nd on the opposite side of the street from Fubonn, a huge former multiplex theater has been transformed into a Slavic church.
Wednesday, August 27, 2014
BY KLINT FINLEY
Treehouse CEO Ryan Carson builds a 21st-century trade school.
Tuesday, August 26, 2014
BY DEBRA RINGOLD | OP-ED CONTRIBUTOR
Why has six years become an acceptable investment in public undergraduate education that over-promises and underperforms?
Wednesday, August 27, 2014
BY KIM MOORE
A conversation about higher education with the presidents of the University of Oregon and Clackamas Community College, followed by September's powerlist.
Friday, August 15, 2014
In this week's poll, we asked readers: "Who should pay for the troubled Cover Oregon website?" Here are the results.
Wednesday, August 27, 2014
BY JESSICA RIDGWAY
How State Representative Julie Parrish (House District 37) balances life between work and play.
Thursday, September 25, 2014
Nick Herinckx, CEO of Obility, and Jake Weatherly, CEO of SheerID, share what they've been reading.
Friday, August 22, 2014
BY CLIFF HOCKLEY | OB GUEST CONTRIBUTOR
When business intersects with family, a host of situations can arise. Without a clear vision and careful planning, hard-earned investments can become stressful burdens.
|A Good Leap Forward|
|A Taste of Heaven|
|Fast Food Slows Down|
|Tight and Loose|
|Startup or Grow Up?|
|U.S. private payrolls increase|
|U.S. construction spending declines in August|
|Johnson & Johnson to acquire Alios BioPharma|
|JAB Holding to buy Einstein Noah|
|DreamWorks Animation may have a Japanese suitor|
|Yahoo, AOL propose merger|
|Cadillac brand to rename its vehicles|
Is your business ready to join us in the call for action? This opening panel includes Oregon businesses who will discuss why they signed the Oregon Climate Declaration, the investments they are making to reduce carbon emissions, and how their actions are affecting their companies.
Get ready for two days of special events produced with the EPA, Portland Timbers and ISOS before and after the GoGreen Conference on October 16.
Bank of America partners with nonprofits to create opportunities for women and drive economic growth.
How one Portland startup tracks devices around the world, making the Internet a safer place for businesses and consumers.
First Call Resolution targets employee well-being and client satisfaction.
The Oregon Entrepreneurs Network (OEN) is pleased to announce 12 finalists—from a record number of 67 nominees—for the 2014 OEN Tom Holce Entrepreneurship Awards
The Oregon Entrepreneurs Network (OEN) is pleased to announce three finalists for the inaugural OEN Game Changer Award.