Sears has sold its store in the Lloyd Center, where mall operators will repurpose the space for multiple tenants.

Portland's oldest shopping center, which has been working to reinvent itself, bought the 143,000 square-foot space in August for $11.5 million, city records show. Sears had owned the property since 2000.

City records show the Lloyd Center plans to demolish the fourth floor and expand the third floor from 37,000 to 75,000 square feet. The mall has not disclosed how many tenants the renovation will accommodate.

It is unclear whether Sears will remain at the mall in any capacity, but the plans suggest that its footprint will either shrink significantly or disappear altogether. Multiple calls to Sears and mall management were not immediately returned.

The sale comes in the midst of the mall's $50 million renovation, with the bulk of the work slated for completion early next year.

Should Sears leave, it would be the second anchor to pull out of the Northeast Portland mall in as many years. Nordstrom closed in January 2015, leaving the space empty during the remodel.

If Sears leaves, the mall would have four remaining large tenants: Macy's, Marshalls, Ross and Barnes & Noble. Macy's announced last week it would close its downtown Portland and Salem stores as it moves to shutter 100 locations nationwide. It also plans to redevelop about 50 of its stores within malls. The retailer wouldn't say whether the Lloyd Center store was included in any of those plans.

Though the loss of an anchor can be the death knell for a shopping center, the Sears sale comes as malls are looking beyond traditional retailers. In recent years, shopping centers have been adding neighborhood amenities like bars, full-service restaurants and gyms in a bid to become more than just a place to shop.

Steve Neville, co-owner of New & Neville, the mall's real estate brokers, said last summer that he's working to bring a grocery store, restaurant and brewpub to the former Nordstrom's ground floor, with traditional retailers on the second and third floor.

With the Sears plans calling for multiple tenants, a similar setup could be in store for that space.

Ice rink reopens

The Lloyd Center announced Tuesday that it was one step closer to unveiling its remodel: It will host a ribbon-cutting ceremony 9 a.m. Thursday to celebrate the reconfigured ice rink.

The rink, now a more traditional oval design, rather than rectangular, has been shifted to the east. The renovation allows for more natural light and makes the rink visible from balconies on three levels of the mall.

The remodel wasn't welcome news to all: The reshaping of the ice rink rankled local league skaters who said the smaller rink wouldn't allow them to skate there.

When the rink reopens, a 50-foot Christmas tree will stand in its center.

-- Anna Marum

amarum@oregonian.com

503-294-5911

@annamarum