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Lowe's Spends $16M on Fourth Oregon Warehouse

SALEM, OR-The 176,000-sf location is one of three opening over the next year. The home improvement retailer's stock price stood at $47.29 on Thursday, up 50% since September 21, 2001.

By Brian K. Miller | Updated on June 13, 2002

SALEM, OR-A new $16-million, 175,000-sf Lowe’s Home Improvement Warehouse will open to consumers and contractors today at 1930 Turner Road SE in Salem, giving competition to The Home Depot across the freeway, which has been around for several years.

The building’s developer is Newman Development Group. Newman retains 25 acres adjacent the site on which it plans to develop more retail.This is fourth store in the state for Lowe’s, which opened its first store in the state in 1994. Its other stores are in Tigard, Portland and Medford. Two others are on the way. A Hillsboro location will open later this year and a McMinnville location is scheduled to open early next year.

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