PORTLAND, OR—New & Neville has been retained by CAPREF Lloyd Center, LLC (CAPREF) as the broker for leasing of the Lloyd Center during and following its renovation. New & Neville's Steven Neville made the announcement in conjunction with X Team International, an international alliance of retail real estate advisors with expertise in more than 45 major markets throughout the US and Canada.
Lloyd Center, a 1.28 million-square-foot mall anchored by Macy's, Sears, Ross Dress for Less, Barnes & Noble and Marshalls, currently has 130,000 square feet of vacancy that was formerly home to Nordstrom. The renovation plans for the vacant department store include new store formats, a spiral staircase, a slightly smaller ice rink and added storefronts on the new main entrance fronting Multnomah Street. New & Neville has been retained to fill these new spaces with a variety of tenants, including local specialty boutiques, exercise studios and restaurants to complement the mall's new look.
"We are proud to be part of such a unique project that will enhance and breathe new life into this longstanding mall," said Neville. "The community is comprised of so many exciting local concepts and we look forward to highlighting that in this mall as we integrate more local and regional retailers and restaurants with the existing national brands."
Construction on the 130,000-square-foot renovation is slated to begin in March and is expected to last 18 months.
New & Neville Real Estate Services provides property acquisition and marketing services to retailers, developers and investors in Oregon and Southwest Washington. X Team is an international alliance of retail real estate specialists with offices located in major cities throughout the U.S. and Canada. X Team partners average more than 20 years of industry experience, with expertise in major markets worldwide, specializing in tenant, property and developer/landlord representation, workout services,property dispositions and retail investments.