New owners of Medford Center promise a hands-on approach: - News - MailTribune.com - Medford, OR

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2015-01-25

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0 of 3 Premium Clicks used this month SUBSCRIBE Print + Online Subscriber Activation  |  Register x Forgot Password | Need an Account? e-edition | subscribe | newsletter | deals Home News Latest Stories Oregon flight targeted in bomb threat Session will focus on GMO lawsuit against Jackson County SORCC sued by Commission for the Blind Emergency services Concessionaire could land more Forest Service campgrounds Crime, Courts and Emergency Services Emergency services Oregon prisoner linked to 1976 killings Drug dealer gets 57 months in fed prison Medford police scramble to slow car break-ins Man sentenced for making 'destructive device' Politics and Elections Ashland aims for diversity, but numbers show shortfall Kent Bush: The keys to decoding the State of the Union address Oregon Legislature convenes, session starts Feb. 12 Councilman stirs online dust-up with anti-marijuana post Education Ballroom dance class is a hit with North Medford students Talent Elementary students learn to tinker Local elementary and middle school students qualify for state chess championships Unfair labor complaint against Medford School District resolved Arsonist attempts to burn down building at Jackson Elementary Environment Mt. Ashland Ski Area crew dips to five Public sounds off on gas pipeline Mt. Ashland ski area announces layoffs Bear cub headed to rehabbers in Idaho Grant will help restore 'legacy' oak habitat in Southern Oregon and Northern California State News TripCheck adding more weather stations, cameras Oregon prisoner linked to 1976 killings Superbug blamed for hospital deaths UO seeks return of released documents Courthouse quote isn't Washington's Nation - World Obituaries James Bernard Robert Clinton Gerber Death Notices Merry Carol Elizabeth Patricia Joanne Otto Weather Photo Galleries Since You Asked Videos Web Cams Mail Tribune 100 Shareable In memoriam: 2014’s notable deaths Looking back: Do you remember 2014’s biggest stories? 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Four companies will be pitching their plan to you Medford airport traffic flies to new heights Agriculture Rising prices bear fruit for local pear growers Opinion Latest Other Views: Governor should not forget rural Oregon Letters to the Editor, Jan. 23 Amy Gehrt: President Obama not finished just yet Michael Gerson: The fight for the middle class Our View: Edible marijuana risks demand strict rules Editorials Other Views: Governor should not forget rural Oregon Our View: Edible marijuana risks demand strict rules Our View: Public salaries move only upward Our View: Restrictions on civil forfeitures are reasonable Other Views: Clearing the way for hemp farming Letters to the Editor Letters to the Editor, Jan. 23 Letters to the Editor, Jan. 22 Letters to the Editor, Jan. 21 Letters to the editor, Jan. 20 Letters to the Editor, Jan. 19 Guest Opinions Guest Opinion: More reasons to oppose gas pipeline A fair shot for all: addressing our low-wage crisis Guest Opinion: SOU biomass burner would be big mistake Guest Opinion: Reforms needed to build upon John Day’s success Guest Opinion: FERC fails our planet Lifestyle Latest stories Going Greensprings Fishing Report: Friday, Jan. 23 Looking Up: Comet Lovejoy is a binocular treat Get Out: Friday, Jan. 23 Over the rainbow? 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Broader and longer-lasting changes, however, will come from the personal and financial efforts the owners of LBG Real Estate Companies say they plan to pump into the venue just north of Hawthorne Park. LBG Real Estate of Los Angeles acquired the 55-year-old commercial center from Kimco Realty late last year for $22.175 million. Managing partners David Goldman and Doug Beiswenger told the Chamber of Medford/Jackson County board Wednesday that personal involvement  will be required to re-energize the aging center. "We got into the project because we felt the center had tremendous potential that had not been fully realized by the previous ownership," Goldman said. "Our goal is to create the premier lifestyle entertainment center in Southern Oregon by capitalizing on what the center currently does have ... and bring in more restaurants, more entertainment uses, more retail that will complement those kinds of uses." Medford Center's previous owners rarely were involved to the degree LBG promises to be. "It takes a lot more than capital to make a property perform well," Beiswenger said. "They were remote operators and very big companies. I don't think they paid attention, and it takes capital and intense management." LBG plans to renovate and bring the center up to contemporary standards, instituting aesthetic, operational, merchandising and security changes. "We understand you've got to spend money to make money," Goldman said. "We're going to be spending a lot on improvements. We've been working on concepts and hoping that sometime in the next couple of months we'll be able to submit applications to the city." In essence, LBG sees Medford Center having two components, the traditional retail element highlighted by its anchors — Sears, Rite-Aid, Ashley Furniture and Safeway — and an entertainment center, featuring Tinseltown and International Fitness. The vision for the courtyard area outside the movie theaters, Goldman said, is a community living room, complete with brew pubs and restaurants with good track records in other parts of the state. "Medford is really the hub of a much larger wheel and draws from an area significantly outside the city limits and draws quite a bit from Northern California because of the lack of sales tax," Goldman said. "We're thinking carefully about what all those people would be interested in seeing at the property, as well as the residents in the immediate area."  The scope of the project is sizable, Beiswenger said. A typical commercial development is 150,000 square feet, and this one — bracketed by Jackson Street, Biddle Road, Stevens Street and Crater Lake Avenue, is 420,000 square feet. "The Medford Center has excellent bones," he said. "With capital and intensive management, we will be able to dramatically improve the operation of the property ... as part of our re-merchandising effort." He said there were discussions with potential new tenants, but nothing finalized. Chamber CEO Brad Hicks said the parallel efforts of LBG and the city's revamping of Hawthorne Park will be advantageous to the community. "I think the improvements coming at the same time means a lot," Hicks said. "Not only aesthetically, but for safety." Reach reporter Greg Stiles at 541-776-4463 or [email protected] . Follow him on Twitter at www.twitter.com/GregMTBusiness , on Facebook at https://www.facebook.com/greg.stiles.31 , and read his blog at www.mailtribune.com/Economic Edge .             By Greg Stiles Mail Tribune MailTribune.com By Greg Stiles Mail Tribune Posted Jan. 21, 2015 @ 5:10 pm Updated Jan 21, 2015 at 5:51 PM » Comment or view comments   Reader Reaction »  STAY INFORMED   Email NewsLetter   Sign Up Today   Sign up for our newsletter and have the top headlines from your community delivered right to your inbox. calendar Connect with MailTribune.com Facebook Twitter RSS Back to top Reader Services Reader Services Home Subscriptions Subscriber controls Contact us Submissions Photos Events Letters to the editor Corrections Announcements Obituaries Story ideas Since you asked Alerts Email Alerts RSS Feeds Text Alerts Advertise Media Kit Home Products and services Ad rates Advertising contacts Mail Tribune Daily Tidings The Nickel Shop Our Valley Blogs Stay Informed   Email newsletter   Sign Up Today   Sign up for our newsletter and have the top headlines from your community delivered right to your inbox. 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