For immediate release, Sept. 19, 2019
Contact: Jenny Ulum, email@example.com, 541-954-6819
Market Expansion On Track, Announces Anchor Tenant
Seven months after breaking ground on a $75-million expansion to the 5th Street Public Market, CEO Brian Obie says the project is on track for a fall 2020 opening. The Market Expansion – downtown Eugene’s largest-ever private commercial development – sits on a half-block site just west of the 5th Street Public Market. It will be home to the Gordon Hotel, Gordon Lofts Apartments and a three-story Market Building for commercial and retail space, all connected by a 200-foot covered Market Alley.
Tenant interest in the Market Building is strong, Obie says. In August the company announced that Handel’s Homemade Ice Cream is moving into a corner space in the Gordon Lofts. Today Obie is announcing an anchor tenant for the prime location on the corner of 6th Avenue and Pearl Street: Nike.
Oregon’s only Fortune 100 company will occupy 6,500 square feet on the ground floor where it will be a must-see destination for visitors who come for sporting events at Autzen Stadium, Matthew Knight Arena, PK Park, Papé Field, Civic Park and of course the new Hayward Field among others. The entrance is a dramatic two-story glass atrium. The top two floors are being leased as office space, making the Market Building fully leased a year prior to opening.
5th Street Public Market to Nike: Welcome Home!
Fifty-five years after Phil Knight and legendary University of Oregon track coach Bill Bowerman launched the precursor to Nike in Eugene, Ore., the world’s largest sportswear and apparel company is returning to its roots. Nike first opened in the 5th Street Public Market in 1988. The faintest outline of the famous “swoosh” can still be seen on the doors of the third floor suite where the store was located until opening its heritage store in May 1999 on the site where the Inn at the 5th stands now. It operated at that site until 2008.
After an 11-year absence, Nike will return to the Market District and downtown Eugene in fall 2020 – well in advance of the IAAF World Championships in 2021.
“We have always believed that Nike belonged at the 5th Street Public Market,” Obie says. “We were honored to have Nike here for 20 years and are thrilled beyond words to welcome Nike back. The Market is in Eugene’s most historic neighborhood. Nike is a huge part of Eugene’s history and vice versa. It’s a perfect fit.”
Nike is by far the single largest tenant in the Expansion project and will become the largest retailer in the Market and in downtown Eugene. Handel’s Homemade Ice Cream has signed a lease for a 2,800-square-foot corner space in the Gordon Lofts apartment building directly across the Market Alley from the Nike store. Five other spaces are either already leased or under signed letters of intent with announcements soon to come, according to Irene Alltucker, Obie Companies’ Director of Real Estate.
“Interest in the project remains extremely strong,” Alltucker says. “People are excited for the growth and to see the buildings take shape so quickly. We are talking to some great tenants who will add to the vibrant mix of retail, food and drink that we have at the Market currently.”
For information on leasing visit www.obiecompanies.com/leasing.
About the Market Expansion: Ground breaking was Feb. 14, 2019, with projected completion in fall 2020. The project comprises an 82-room boutique hotel called the Gordon; a 127-unit apartment building called the Gordon Lofts; and the 30,000-square-foot Market Building. The project is being developed by Brian Obie and his grandson, Casey Barrett, Obie Companies Vice President.
Friday, March 9, 2018
For immediate release
Contact: Jenny Ulum, 541-954-6819
5th Street Public Market Poised to Expand
$60 million project brings new living, lodging, shopping and dining options to downtown Eugene
Eugene, OR – The 5th Street Public Market is preparing to embark on its largest construction project ever, with plans to break ground later this year on a new hotel, apartment building and retail center on a lot bordered by 6th Avenue and Pearl and Oak streets.
The project takes up half a block on land owned by Lane County and leased to Obie Companies, owner of 5th Street Public Market, under a 99-year agreement signed in 2013.
“This is the largest undertaking in our company’s history, and a significant investment in the ongoing redevelopment and revitalization of downtown Eugene,” says Brian Obie, president and CEO of Obie Companies and former Eugene mayor (1984-1988). “We love this community and the community has always loved the Market right back. We think they’re going to love this evolving Market District even more.”
The estimated $60 million development project on what is now a county-owned parking lot consists of three buildings:
- a seven-story, 113-unit apartment building, the Market Lofts, with ground-floor retail
- a three-story retail and office building, and
- a seven-story, 82-room boutique hotel, to be called The Gordon Hotel in honor of Gordon Obie, Brian Obie’s late father.
The three buildings will be connected by a glass-covered Market Alley that leads from the hotel to Pearl Street. Small shops, cafés and tasting rooms will open onto the Alley where Market residents, hotel guests, visitors and locals can explore and interact.
The Market expansion is a major step forward in the ongoing formation of a Market District that adds to the vibrancy of the downtown area and promotes local arts and culture by incorporating the works of local artists into interior and exterior designs as well as through community events and business opportunities.
“We see the Market District evolving into a vibrant hub for the arts where there is always something new to discover and something going on to delight our residents and guests,” says Casey Barrett, vice president of Obie Companies and a member of the Obie family. “Building on the programming already under way at the existing Market, this new project will provide new opportunities for people to browse, shop, sip and taste and to come together for events and celebrations.”
The architect for the project is Ankrom Moisan, perhaps best known for its work in Portland’s Pearl District. A contractor has not been selected. Obie is committed to keeping as much construction work local as possible.
Obie Companies is also supporting an affordable housing project being developed by Homes for Good on a quarter-block site across Oak Street west of The Gordon Hotel. Homes for Good is planning a five-story, 50-unit workforce housing project. Obie is planning to purchase the 5,500-square-foot ground floor retail space in the building in a condo arrangement.
The 5th Street Public Market has been called one of the best loved and most successful places downtown. With more than 1.5 million visitors a year, the Market is an enchanting collection of local and regional stores, cafés, a salon and day spa, and the exceptional Inn at the 5th boutique hotel. Established as a poultry business in 1929, the property was reinvented as the Market in 1976 and has been owned by Obie Companies since 1981. In addition to the 5th Street Public Market District properties, Obie developed and manages the Inn at 500 Capitol in Boise, Idaho, which opened last year.