Lloyd Center to acquire department store space

Portland, Ore. — Cypress Equities, the management company for Lloyd Center in Portland, Ore., has announced that the Center’s owners intend to purchase the 130,000-sq.-ft. building currently owned and occupied by Nordstrom. The acquisition is part of the center’s recently announced renovation plans.

Plans call for the building to change hands in January of 2015. Nordstrom has notified its employees that the store will close.

“We believe the Nordstrom building might better serve Lloyd Center shoppers if it featured alternative uses,” said Chris Maguire, CEO of Cypress Equities. “Our leasing team is exploring other retail and service options that will not only complement the mall’s existing mix, but provide our shoppers with unique offerings not available at other Portland-area shopping centers.”

Lloyd Center is an enclosed, three-level, 1,200,000-sq.-ft. regional shopping center located near downtown Portland with close proximity to the Oregon Convention Center, Moda Center and Memorial Coliseum.

The center was developed in 1960 as the largest shopping center in the country. Lloyd Center features six anchor stores, more than 150 specialty shops, a 900-seat food court, plus an indoor ice-skating rink and an eight-screen movie theater. With an impressive lineup of shops and restaurants, it is still one of the largest shopping centers in Oregon.

Lloyd Center showcases many of today’s most compelling and popular retail brands, including anchor stores Macy’s, H&M, Sears, Marshalls, Barnes & Noble Booksellers and Ross Dress for Less. Other highlights include the recent addition of Ulta, a newly expanded Forever 21 and an array of other tenants including Aeropostale, American Eagle Outfitters, Bath & Body Works, Ben Bridge Jeweler, G by Guess, GAP, Hollister, Journeys, Loft, Old Navy, Vans, Victoria’s Secret and Zumiez.