It was built to be retail. When the building that housed Saturday Market and their storage became Mercy Corps, there was a huge need for storage close by. The retail never materialized, and Saturday Market vendors store their things there. I believe that is also the reason for the obscure film on the glass.
There was good news late last year, it sounds like the U of O will be expanding into the space:
http://djcoregon.com/dailyblog/2011/...t-fo-old-town/