Lake Oswego community will welcome two new businesses
The construction that's been hard to miss at Oswego Village is near completion, and the community will see two new businesses in the area.
According to Brian McWeeney, senior associate in asset management for Asana Partners, YogaSix and Pure Barre are the first two tenants that will be moving into the shopping center that has received a massive facelift.
"We're just really excited about having them there," McWeeney said. "I think they're going to be a great fit for the community."
Asana Partners is a North Carolina-based real estate investment firm that purchased the five-building retail center at 11 S. State St. in 2018 from California-based Terramar Retail Centers (TRC). According to the Portland Business Journal, Asana Partners paid nearly $34 million, acquiring the property free and clear of existing debt.
The shopping center is currently home to Whole Foods 365 — which McWeeney said is in the process of transitioning to a full-line Whole Foods — Laughing Planet, Ace Hardware and others.
McWeeney said they're currently going through a $4 million renovation of the property and are seeking tenants that have a focus on restaurant and fitness. YogaSix and Pure Barre proved to be perfect fits.
"We are so excited to be moving into the Oswego Village complex. We feel like it's going to be a beautiful space. We're looking forward to getting to know the community more through Pure Barre," said Pure Barre owner Amber Stockdale, in an email to the Review. "Lake Oswego is such a great city with like-minded people."
Workouts at Pure Barre are high-intensity, low-impact total body workouts for people of all ages and physical abilities. It's followed by stretching to promote long lean muscles. Anyone can do it regardless of age or physical ability.
Stockdale added that the fitness studio will be offering a free class geared toward learning basic movements for new participants.
YogaSix Owner David Copenhaver said he's familiar with Lake Oswego and is excited about the opportunity to open his business in a good location.
"I've always liked the downtown (area) and where it's headed," Copenhaver said.
He did say that he will start engaging in pre-sale — selling memberships — within the next 60 days.
In terms of construction, McWeeney said they're in the "final, final stages." He said the facade is basically complete and final phases involve putting in new glass and door systems.
There will be about 13 businesses eventually occupying Oswego Village including the existing businesses in the center. An additional two tenants have been discussed but are not ready to announce yet.
YogaSix and Pure Barre are in the early stages and both have to work on buildout before they open.
"At this point we are hopeful that we will open end of June," Stockdale said. "We will of course take all precautions for the safety and well being of our members and community and if need be push the soft opening date out."
Copenhaver added that he would like to open in early summer but amid concerns circulating throughout the world about coronavirus, he does not have a set date yet either.
The two tenants will move into the building that runs perpendicular to State Street.
"I just think they work well with Whole Foods," McWeeney said. "You can get your fitness in, get your good meal and once we have the right restaurant uses that we want, it kind of becomes this cohesive thing where you can do everything you want there."
Ryan Meeks, operations manager at Ace Hardware, is looking forward to construction being complete.
"We're looking forward to everything being cleaned up obviously and business not being impeded any further. We are looking forward to the spaces being filled up," said Meeks, adding that he's excited to find a good place to eat after all the storefronts are filled as well as improved business. "Hopefully there's new tenants to draw in the community around this complex because, you know, this used to be quite the hub from what I understand back in the '50s and '60s and things like that, so we're looking forward to seeing what creative opportunities this new ownership brings to the table — they're young, they're energetic, they're looking for fun, exciting things."
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