Executive Summary
The 2025 Oregon retail leasing market demonstrated a pronounced shift toward experiential and entertainment-based tenants absorbing large-format vacancies previously occupied by traditional big-box retailers.
Family entertainment centers, indoor sports facilities, and adventure parks emerged as dominant big-box fillers, collectively absorbing over 320,000 square feet across the Portland metro and secondary markets.
Separately, Shari's closures created rapid reuse opportunities: well-located freestanding restaurant pads were quickly backfilled by regional and national operators.
Key Trends
Entertainment & Recreation
Adventure parks, indoor sports, and experiential concepts dominated big-box absorption, signaling a structural shift in how consumers use retail real estate.
258K+ SF absorbed
Value & Off-Price
Off-price continues to expand into Oregon markets, leveraging value-conscious demand and attractive economics in secondary space.
Anchor backfills + shadow anchors
Restaurant + Drive-Thru
Quick-service and fast-casual expanded aggressively in suburban markets, focusing on drive-thru circulation and stacking.
Drive-thru demand stays elevated
Freestanding Reuse (Shari's)
Bankruptcy-created inventory was absorbed quickly by operators seeking turnkey restaurant buildings in high-traffic corridors.
Fast time-to-market advantage
Notable Retail Leases
A curated set of noteworthy deals and tenant moves. Use the filters to isolate category signals.
Big-Box Absorption Tracker
Leases over 20,000 SF. This is the clearest view of which concepts are replacing legacy anchors and large-format boxes.
| Tenant | Property | City | SF Leased | Deal Type | Category |
|---|
Tenant Spotlight
A deeper look at the tenants that most clearly signal where Oregon retail is heading.
What This Means for Owners
Experiential Premium
Entertainment tenants pay for ceiling height, parking ratios, and visibility—then become weekend traffic anchors for the entire center.
Time-to-Market Matters
Freestanding restaurant reuse can compress downtime materially—especially for drive-thru-capable sites in strong corridors.
Secondary Markets Win
Gresham, Salem, and Medford captured higher profile tenants as brands chase lower entry costs and less friction in delivery.
Coming Soon
Signed leases and announced expansions currently in development.
Floor & Decor
10176 SE 82nd Ave, Clackamas, OR
Specialty flooring retailer entering Clackamas and filling a significant vacancy along the 82nd corridor.
Project listingThe Shoppes at Gateway
2720 Gateway St, Springfield, OR
Adding Boot Barn and Raising Cane's—strengthening the center as a regional destination and reinforcing pad / inline leasing momentum.