adidas America holds groundbreaking for new retail store on MLK Jr. Blvd

Business Wire, Jan 15, 1997

PORTLAND, Ore.--(BUSINESS WIRE)--Jan. 15, 1997--Community residents commemorated Dr. Martin Luther King Jr.'s birthday with a groundbreaking today for adidas America's new retail store to be constructed on the northeast corner of Martin Luther King Jr. Blvd. (MLK Jr. Boulevard) and Northeast Alberta Street.

Grand opening for the store is slated for summer 1997. The 6,500-square-foot store will sell athletic apparel and footwear.

The store will be located at an important intersection along MLK Jr. Boulevard that is considered to be the "gateway" to Alberta. The community has identified this intersection as key in the continued revitalization of the boulevard and the new store fits the type of development identified in the Albina Community Plan.

Along with the retail store, plans will include construction of a 5,000-square-foot public plaza named after Portland Police Officer Harry Jackson. Jackson was instrumental in fighting prostitution and crime along the boulevard over the past 15 years. adidas America and the owner have agreed to recognize Jackson's efforts by naming the plaza after him.

"We are very pleased to choose Portland and MLK Jr. Boulevard as the site for this exciting new store," said Steve Wynne, president and CEO of adidas America. "Portlanders are demonstrating that they care about the boulevard and are working hard to improve it -- we want to be part of that effort. We think the store will be a positive presence along MLK."

Financing for the project was achieved through U.S. Bank, the Albina Community Bank and the Portland Development Commission. Jack Chung will finance and construct the building, and lease the property to adidas America. The Portland Development Commission will finance public improvements to the property.

Representing PDC at the event, Chairman Carl Talton said the Commission was pleased to support this and other community businesses. "When we are successful together, we keep the wealth generated right here in the community and create good, new jobs," Talton added.

Ray Leary of adidas America will oversee the project. Leary sees the store as an opportunity to "give back something to the community, while simultaneously being good for business."

Former adidas America President and CEO Rob Strasser founded the idea behind the store. After Strasser's death, the idea was carried by Peter Moore, adidas' worldwide creative director, and current President and CEO Wynne. Leary also thinks it noteworthy that both the building owner and plaza honoree are minority members; Chung is Korean and Jackson is African-American.

Developer for the project is Triangle Development Co. The design architect is Case/Lituczy Architecture with Architect of Record being Mildren Design Group. General contractor is R&H Construction; landscape architect is Mike Faha & Associates. The real estate companies involved included Hanacek & Co. representing adidas America and Stewart Group Realty representing Jack Chung.

Organizers of today's event specifically chose today's date -- the birthday of Martin Luther King Jr. -- as symbolic of the project. Efforts happening along MLK Jr. Boulevard combined with construction of buildings and public areas like this one, bring a renewed sense of confidence and a realization that the dream is indeed, still alive.

CONTACT: adidas America

John Fread, 503/797-4166