PORTLAND-Fry’s Electronics will take over an expand the former Builder’s Square building at Hayden Meadows, the 400,000-sf power center in Delta Park owned by Tom Moyer, also part owner of the adjoining Portland Meadows racetrack, which is slated for redevelopment in four years or so.

Moyer tells GlobeSt.com this week that Fry’s signed a 20-year lease for the 80,000-sf building as well as excess land on which it plans to expand the building to 130,000 sf. Moyer’s TMT Development is responsible obtaining the necessary building permits. The term of the lease is 20 years. The lease rate was not immediately available.

Already in the complex are Office Depot, GI Joe’s, PetCo, Bed Mart, Sleep Country and Wicks Home Furnishings, says Mark New of New & Neville, which lists all Moyer’s available retail properties. About 60,000-sf still remains to be leased at Hayden Meadows, including the 52,000-sf Best building that has been vacant for years and 12,000-sf in the development’s Meadows Square building.

The lease deal is good news for Hayden Meadows, which has slowly but surely been regaining its position in the market. In late 1995, more than a third of the regional mall sat empty after Circuit City’s leap to Jantzen Beach Super Center and bankruptcies by Smith’s Home Furnishings and Best. The Builder’s Square building has been vacant for the past two or three years, says New.

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