The Retail Thread

[downtownpdx]

Originally Posted by scleeb

It is my understanding that the Richmond Building (east) will be renovated once the lawsuit is resolved. Neither building will be demolished.

Great to hear the eastern portion will be renovated, it really is an eyesore. I hope the former Greek Cuisina corner at 4th and Washington also sees a nice renovation once construction is finished. This area of dt needs some new activity, and hopefully retailers fill these spaces despite all the homeless / sidewalk camping issues, etc mentioned above.

[maccoinnich]

Couple permits have recently been filed for work at Pioneer Place.

One for H&M (valuation $1,500,000):

FF2/ Suite 2380, H&M, remodel and expansion over 3 levels, interior store fronts, wall removal/addition, flooring, fitting rooms, ada, employee restroom relocation, track lighting, free standing fixtures, ceiling, elec, plbg, finishes ++++++++++++++++++++++++bid estimate+++++++++++++++++++++++

One of the food court (valuation $2,305,000):

Remodel of existing interior food court with the addition of new canopy at parking garage entry; remove of existing interior finishes; new interior build out and finishes no tenant occupancies this permit

[babs]

Originally Posted by maccoinnich

Couple permits have recently been filed for work at Pioneer Place.

One for H&M (valuation $1,500,000):



One of the food court (valuation $2,305,000):

Any idea what's being built on the top floor of the Pavilion building?

[innovativethinking]

Originally Posted by babs

Any idea what's being built on the top floor of the Pavilion building?

Good luck getting questions answered

[MarkDaMan]

Originally Posted by babs

Any idea what's being built on the top floor of the Pavilion building?

Are you asking about the Apple building? I was wondering what's going on there too.

[maccoinnich]

Originally Posted by babs

Any idea what's being built on the top floor of the Pavilion building?

Are you referring to the Atrium building at Pioneer Place? If so:

F15/ third floor - convert entire floor from retail to future offices, remove storefront, non-bearing walls, cap utilities, new walls for two separate office suites, infill ramp with concrete topping, no occupancy this permit

[maccoinnich]

Originally Posted by MarkDaMan

Are you asking about the Apple building? I was wondering what's going on there too.

Glazing repair, according to the DJC.

[babs]

Originally Posted by maccoinnich

Are you referring to the Atrium building at Pioneer Place? If so:

Thanks! They had to do something to get some people up on the top floor. The lack of a destination on the top floor hurt them. I think a better option would have been to move the food court up to the top floor so that people have a nice view while dining. The current cave of a food court would be much better as a big box store space.

[MarkDaMan]

Thanks Maccoinnich!

Originally Posted by babs

Thanks! They had to do something to get some people up on the top floor. The lack of a destination on the top floor hurt them. I think a better option would have been to move the food court up to the top floor so that people have a nice view while dining. The current cave of a food court would be much better as a big box store space.

Not a bad idea!

[maccoinnich]

Macy's confirms sale, closure of Portland store



As sales and profits at Macy's continue to decline, the retail giant continues to sell off its most valuable real estate holdings.

In an earnings report Thursday, the retailer announced it has signed a contract to sell its downtown Portland store for $54 million. The deal will net Macy's about $36 million.

The Oregonian/OregonLive reported in July that Macy's was exploring the possibility of a sale.

The downtown Portland store, which occupies five floors of the historic Meier & Frank Building, will close this spring.

...continues at the Oregonian.

[downtownpdx]

That's really too bad. Meier & Frank really had the nice holiday window displays before Macy's took over, but Macy's will be missed as well. Hopefully this will find a nice tenant who considers their street presence in the heart of downtown. Apparently several major retailers are announcing Portland openings next year.

[babs]

Originally Posted by downtownpdx

That's really too bad. Meier & Frank really had the nice holiday window displays before Macy's took over, but Macy's will be missed as well. Hopefully this will find a nice tenant who considers their street presence in the heart of downtown. Apparently several major retailers are announcing Portland openings next year.

99% sure this will be office space up above and retail only on the ground floor. The challenge will be how they cut up the space on the first level. Retail has not done well along the transit mall, especially on the side where the stops are and this building has two sides facing that. The Alder side is basically all loading dock, so that leaves just the Morrison side. My guess is that the owners will chase some young, hip chain that doesn't have a store in Portland like Zara or Uniqlo. However, I think the best idea would be to land flagship stores for sportswear companies like Adidas and Under Armor.

[downtownpdx]

Yeah with this city becoming he sportswear capital of the world, I could see one of those companies opening a retail space there. Wonder what'll move into the Abercrombie space a block west.

[urbanlife]

Originally Posted by babs

99% sure this will be office space up above and retail only on the ground floor. The challenge will be how they cut up the space on the first level. Retail has not done well along the transit mall, especially on the side where the stops are and this building has two sides facing that. The Alder side is basically all loading dock, so that leaves just the Morrison side. My guess is that the owners will chase some young, hip chain that doesn't have a store in Portland like Zara or Uniqlo. However, I think the best idea would be to land flagship stores for sportswear companies like Adidas and Under Armor.

Oh man, I didn't think about that, this would be an awesome location for an Uniqlo store, plus I would be happy to give them all of my money.

[maccoinnich]

Looks like Sears in the Lloyd Center might be closing. Waterleaf Architecture, Interiors & Planning have scheduled a Pre-Application Conference to discuss a project at 1260 Lloyd Center:

Pre-application conference for renovation and expansion of existing four story, 145,000 sf anchor. First and second floor will be multi-tenant use; demolition of 4th floor and expansion of third floor from 37,000 to 75,000 sf.

I didn't see this reported at the time, but the Sears building sold to the owner of the larger Lloyd Center earlier this year:

[babs]

Originally Posted by maccoinnich

Looks like Sears in the Lloyd Center might be closing. Waterleaf Architecture, Interiors & Planning have scheduled a Pre-Application Conference to discuss a project at 1260 Lloyd Center:



I didn't see this reported at the time, but the Sears building sold to the owner of the larger Lloyd Center earlier this year:

With the amount of vacant space in the mall and the vacant exNordstrom space, I wonder if they have anyone lined up for this. I also expect some form of redevelopment of the Macy's building too, especially considering their approach to either close underperforming stores or lease out excess space. That location has an unused basement level and the building itself is bigger than they probably need.

[maccoinnich]

Lloyd Center Sears sold, ice rink to reopen

The Lloyd Center Sears store has been sold back to the mall to be repurposed as Portland's oldest shopping center works to reinvent itself.

According to city records, Sears sold its 143,000 square-foot anchor store back to the mall owner in August for $11.5 million.

City records show plans for the space include renovation and expansion of the four-story space to house multiple tenants. The fourth floor will be demolished and the third floor will be expanded from 37,000 square feet to 75,000 square feet, plans say.

It is unclear whether Sears will remain at the mall in any capacity, but the plans suggest that its footprint will either shrink significantly or disappear altogether. Multiple calls to Sears and mall management were not immediately returned.

...continues at the Oregonian.

[eh2zed]

Patagonia will be relocating from its current location at NW 9th and Irving in the Ecotrust Building to the Carson Building on West Burnside at 11th in the former Mitchell Gold + Bob Williams space.

http://www.urbanworksrealestate.com/...-new-location/

[MarkDaMan]

Luxury jeweler exits Portland, vacating high-profile downtown retail spot
Nov 14, 2016, 1:16pm PST Updated Nov 15, 2016, 11:03am PST

http://www.bizjournals.com/portland/...342&j=76471811

Shreve & Co., the high-end California jeweler that filled the space once held by Carl Greve Jewelers near Pioneer Courthouse Square five years ago, on Monday said it is exiting the Portland market.

In a news release, Shreve co-owner Lane Schiffman said sales at the downtown location haven't grown as hoped.

...

Shreve took over the space once held by long-time Portland jeweler Carl Greve, which opened in 1923 at 731 S.W. Morrison St. Greve and moved to the American Bank Building, at 640 S.W. Broadway.

The space, which fronts Pioneer Courthouse Square, had a 4,095-square-foot retail parlor at street level, a 4,718-square-foot mezzanine and a 472-square-foot basement when Greve last occupied it.

...(continues)

[maccoinnich]

Exclusive: Buyer confirms plans for downtown Macy's building



Talk among the local commercial real estate scene over the past six months has hinted that the downtown Macy's building was being sold and would likely be redeveloped into creative office space.

Earlier this month, Macy's announced it had sold its five floors of the historic Meier & Frank Building for $54 million and would close up shop in early 2017. The Business Journal later reported that the buyer was KBS.

Now, the Business Journal has learned that, indeed, KBS and its partner, Sterling Bay of Chicago, plan to redevelop the property into the latest creative office and retail space to come downtown.

...continues at the Portland Business Journal.