Retail in New Hilton Remains Unknown

PORTLAND-Melvin Mark Properties is still looking for an 18,000-sf retail user for new 329-room Hilton tower rising at the corner of Sixth Avenue and Taylor Street. Portland-based Melvin Mark Cos. is developing the project in a joint venture with Hilton.

In October, Melvin Mark Cos. CEO Jim Mark confirmed that his company was in negotiations with the national drug store chain Walgreen’s to take the two-level space at fifth and Taylor being marketed at $45 per sf for the upper level and $18 per sf for the lower level. Melvin Mark Properties President Scott Andrews tells GlobeSt.com negotiations are ongoing with the Illinois-based retailer, which said last fall it would launch 475 new stores across the nation before the end of summer 2002.

Just in case, however, Andrews says he is also responding to other offers. “We’re still working with them,” says Andrews,” but we’ve also had inquiries from other national retailers interested in the space.”