Revisiting Lloyd Center

 

To be snarky about it, one could suggest that visiting Lloyd Center is a good way to get out of the cold, rainy weather and to avoid the crush of holiday shopping crowds.

 What once was Portland’s largest and busiest shopping mall lost its last big magnet store two years ago.  Like the past two big shopping seasons, the 1.16-million square foot mall on three levels and lots of parking remains a hollow shell of its former self.  For many years after its opening in 1960, the mall was packed with shopers during the holiday rush.  No more. 

 Yes, the doors are still open.  Is it worth the trip?

One year ago, a major real estate property development and management firm, Urban Renaissance Group, took control of the 18-square block mall and announced that it planned to keep it as a retail and community center with its skating rink in the middle.

 Since then – there has been little word about its future.  Remaining tenants have said they have been told no plans, but have received some directives about staying open during morning hours when few shoppers are present.

 The largest remaining stores are Barnes & Noble, Ross Dress for Less and Forever 21, an apparel store appealing to young adults.  Macy’s, the last of several so-called “magnet” stores, pulled out after the 2020 holiday season.  Under the original mall concept, a few major retailers attracted most of the customers and smaller shops filled in the storefronts between them.

 

Join the crowd

There are a few new shops this season, including a magic store and a purveyor of comic books.  Other low-voltage uses have included a film festival that ran for a few days in vacant shops and a roller-skating event in one of the former big stores. 

Ironically, the shopping complex that once floated Portland’s retail boat may become the low-rent venue for “creative” new stores, much like run-down neighborhood commercial streets once did.  A key question facing Lloyd Center is whether the new small shops can attract a sustainable customer base without the attraction of large stores. 

 Security also will be a challenge.  Some retailers at Lloyd Center have expressed concern about security from shoplifters.  A few private security officers stroll around periodically, and the large stores appear to provide their own. 

 A broader question may involve the patience of the Urban Renaissance Group and its partner, the KKR Real Estate Finance Trust.  These a big-money enterprises and one wonders when they will start considering more lucrative opportunities for the big Northeast Portland urban site.  If they aren’t already….

----Fred Leeson

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