The lease has Cascade Station about 90 percent leased up, said Dan Reed, general manager for developer Center Oak Properties. The Torrance, Calif.-based company also owns Mall 205 and Plaza 205 in Portland, and several properties in Central Washington, most of which it acquired last year from New York-based First Union Real Estate.
Gresham Station is not a typical mall. It consists of 12 single-story buildings arranged in traditional blocks. The site had been set aside for a mall for years, but never developed until now. Major tenants will start occupying the buildings in October for a grand opening slated for Nov. 15.
A 200,000-sf, addition to the development is planned, but marketing won't start for another year, Reed said. The additional space will be mostly office, possibly with an entertainment component, Reed said.
Beside Eddie Bauer, name-brand tenants in the current project include Gap, Old Navy, Bed Bath & Beyond, Borders, QFC, Cost Plus, Blockbuster, Red Robin, Starbucks, Panda Express, Hallmark and Ann Taylor Loft and Famous Footwear. All told, there will be 37 retail tenants in the project, about half of which will be in by the scheduled grand opening.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
