Mario's Eschews Galleria, Heads for Base of Fox Tower

PORTLAND-A little more than a year after Mark New and Steve Neville were handed the listing, they have filled what is arguably the most prime retail spot in Downtown Portland with the city’s best-known high-end clothing retailer.

After several months of negotiations, the long-time retail brokerage duo has signed up retailer Mario Bisio, who will relocate both his men’s and women’s clothing stores into the two-level, 12,000-sf space in the base of the Fox Tower, which is located in the heart of Downtown Portland at the corner of Southwest Broadway and Taylor.

The $100-million, 27-story office building was completed in the summer of 2000 by millionaire developer Tom Moyer. Asking rates for Mario’s new space were $45 per sf for the ground-floor space (7,369 sf) and $25 per sf for the second level (4,442 sf), for a blended asking rate of about $37 per sf. Mario is believed to have signed at least a 10-year lease that includes a tenant-improvement allowance of at least $50 per sf.