Lloyd Center

Nordstrom’s 2019 departure from Lloyd Center, following Sears, Macy’s, and the other national chain anchors that had defined the property since its original 1960 open-air debut as one of the first covered retail complexes in the Pacific Northwest, produced something the standard anchor-loss narrative does not predict: a 900,000 square foot enclosed mall in Portland’s Lloyd District whose vacancy has been filled by the independent operators, games and hobby retailers, local artisans, and arts organizations that the Portland economy sustains at a density no other major US city can match for a market of its size. The ice rink, installed in the original 1960 design and still operational, gives the property a physical heritage continuity that the departed national chains did not. Floating World Comics, the Portland-founded independent comic book store whose rare back-issue collection, small-press publishing relationships, and community programming give it a commercial and cultural significance that the Portland arts and collector community treats as an institution, anchors the arts and culture floor. Gambits Games and Anime, dicepool, and All American Magic Shop and Theater give the property a tabletop gaming, anime, and performing magic identity whose niche depth the national entertainment retail chains do not match in a format designed for the broadest possible consumer.

Brickdiculous Shop and Gallery serves the LEGO and brick art collectibles category. ZRE Music Studio gives the property a music recording and education identity for the Lloyd District and Northeast Portland arts community. Nielsen’s Jewelers, the locally-owned Portland fine jewelry retailer, gives the property a community fine jewelry identity whose personal service depth the national chain operators do not provide at the same individual transaction quality. Joe Brown’s Carmel Corn, the Portland-founded specialty popcorn and caramel corn brand, gives the property a locally-made artisan food identity. Caffé D’arte, the Seattle-founded Italian espresso micro-roaster, and Starbucks serve the café and espresso categories. Shiekh serves the urban footwear category. Hot Topic serves the pop culture and alternative fashion floor. Dillon’s Sports Emporium serves the licensed sports merchandise and sporting goods category. GameStop serves the video games retail floor. Metro by T-Mobile serves the telecom retail category.

MAX Light Rail at the Lloyd Center station, one stop from the Pearl District and two stops from Union Station, gives the property a transit access identity that the suburban regional mall format does not possess; the Lloyd District pedestrian and transit consumer is a fundamentally different household than the Park-and-shop Dakota County or suburban New Jersey regional mall visitor, and the tenant mix reflects that difference. The property’s commercial role in Portland is the Lloyd District enclosed mall at NE Multnomah: a Floating World Comics-Gambits Games-ZRE Music cultural platform whose independent operator depth, legacy ice rink, and MAX Light Rail access serve the inner Northeast Portland and Lloyd District arts, gaming, and independent culture community as the enclosed retail format that most legibly expresses Portland’s identity as a market where independent commercial operators sustain a retail culture unavailable in any other US market at comparable scale.