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Downtown Retail - Previous JC Penny Building 305 Liberty St NE 1,733 - 18,032 SF of Retail Space Available in Salem, OR 97301
Highlights
- Downtown Redevelopment at Former JC Penney Building
- Flexible Customization Across Three Levels
- Customizable Build-Outs
- Prime Location at Signaled Intersection
- 102,500 SF Divisible to 5,000+ SF Spaces
Space Availability (3)
Display Rental Rate as
- Space
- Size
- Term
- Rental Rate
- Rent Type
| Space | Size | Term | Rental Rate | Rent Type | ||
| Basement | 4,330-5,810 SF | Negotiable | $8.20 CAD/SF/YR $0.68 CAD/SF/MO $47,662 CAD/YR $3,972 CAD/MO | TBD | ||
| 1st Floor | 3,454-6,492 SF | Negotiable | $20.51 CAD/SF/YR $1.71 CAD/SF/MO $133,141 CAD/YR $11,095 CAD/MO | TBD | ||
| 2nd Floor | 1,733-5,730 SF | Negotiable | $16.41 CAD/SF/YR $1.37 CAD/SF/MO $94,011 CAD/YR $7,834 CAD/MO | TBD |
Basement
Suites from 4,330–5,810 SF that support functional, back-of-house, production, or destination-style layouts. Spaces can be combined to support larger footprints. The building includes a freight elevator and loading dock for efficient operations and build-outs.
- Fully Built-Out as Standard Retail Space
1st Floor
Large-format opportunities from 3,454+SF. Ideal for retail, showroom, entertainment, or experiential uses offering visibility and flexible layouts.
- Fully Built-Out as Standard Retail Space
2nd Floor
Flexible suites ranging 1,733–5,730+ SF, suited for creative, fitness, or service-oriented users seeking downtown visibility with adaptable layouts.
- Fully Built-Out as Standard Retail Space
Rent Types
The rent amount and type that the tenant (lessee) will be responsible to pay to the landlord (lessor) throughout the lease term is negotiated prior to both parties signing a lease agreement. The rent type will vary depending upon the services provided. For example, triple net rents are typically lower than full service rents due to additional expenses the tenant is required to pay in addition to the base rent. Contact the listing broker for a full understanding of any associated costs or additional expenses for each rent type.
1. Full Service: A rental rate that includes normal building standard services as provided by the landlord within a base year rental.
2. Double Net (NN): Tenant pays for only two of the building expenses; the landlord and tenant determine the specific expenses prior to signing the lease agreement.
3. Triple Net (NNN): A lease in which the tenant is responsible for all expenses associated with their proportional share of occupancy of the building.
4. Modified Gross: Modified Gross is a general type of lease rate where typically the tenant will be responsible for their proportional share of one or more of the expenses. The landlord will pay the remaining expenses. See the below list of common Modified Gross rental rate structures: 4. Plus All Utilities: A type of Modified Gross Lease where the tenant is responsible for their proportional share of utilities in addition to the rent. 4. Plus Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of cleaning in addition to the rent. 4. Plus Electric: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical cost in addition to the rent. 4. Plus Electric & Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical and cleaning cost in addition to the rent. 4. Plus Utilities and Char: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the utilities and cleaning cost in addition to the rent. 4. Industrial Gross: A type of Modified Gross lease where the tenant pays one or more of the expenses in addition to the rent. The landlord and tenant determine these prior to signing the lease agreement.
5. Tenant Electric: The landlord pays for all services and the tenant is responsible for their usage of lights and electrical outlets in the space they occupy.
6. Negotiable or Upon Request: Used when the leasing contact does not provide the rent or service type.
7. TBD: To be determined; used for buildings for which no rent or service type is known, commonly utilized when the buildings are not yet built.
Select Tenants at Downtown Retail - Previous JC Penny Building
- Tenant
- Description
- US Locations
- Reach
- See's Candies
- Candy/Nuts
- 277
- International
| Tenant | Description | US Locations | Reach |
| See's Candies | Candy/Nuts | 277 | International |
Property Facts
| Total Space Available | 18,032 SF | Gross Leasable Area | 102,500 SF |
| Min. Divisible | 1,733 SF | Year Built | 1964 |
| Property Type | Retail | Cross Streets | Center Street NE |
| Property Subtype | Department Store |
| Total Space Available | 18,032 SF |
| Min. Divisible | 1,733 SF |
| Property Type | Retail |
| Property Subtype | Department Store |
| Gross Leasable Area | 102,500 SF |
| Year Built | 1964 |
| Cross Streets | Center Street NE |
About the Property
A major redevelopment is underway at the former JC Penney building in the heart of downtown Salem, offering a rare opportunity for tenants to shape space to fit their specific vision and operational needs. This multi-story building with basement is being repositioned as a flexible, open-slate commercial project. With its central downtown location and customization potential, this project presents a unique opportunity for users seeking space that can be tailored to their brand, workflow, and long-term growth. A wide range of leasing options and a vision centered on energy, creativity and collaboration, this redevelopment offers a rare opportunity to be part of Salem's next chapter. Early interest is encouraged.
- Bus Line
- Pylon Sign
- Signage
- Signalized Intersection
Nearby Major Retailers
Presented by
Downtown Retail - Previous JC Penny Building | 305 Liberty St NE
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