Liberty Plaza, located in the heart of downtown Salem, Oregon, was originally constructed in 1954 as a department store. In 1996, the building was extensively remodeled into its current three-story retail and office complex. Today, it is ready for redevelopment on the heels of a over $100M investment in downtown including three new multi-family housing projects and a brand new Hilton-brand hotel, set to open in early 2023. Incentives are available from the City as this property is located in the Riverfront-Downtown Urban Renewal Area and in an Opportunity Zone. More information can be found at:
Ideal for an investor or developer in pursuit of this asset’s stabilized value or a partnership of business owners finding value in the current in-place functionality of the building such as a restaurant, professional office user or even retail/hospitality operators. The building is connected to the Chemeketa Parkade where there are hundreds of publicly-available parking stalls for employees and customers alike.