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Deacon Development has joined a pair of investors to purchase a downtown Salem building that formerly held a Nordstrom store.

鈥淲e look at it as an opportunity, even though we honestly don’t know what it’s going to be,鈥� said Steve Deacon, CEO of Deacon Development.

The property, at Salem Center, is approximately 69,000 square feet, including 30,000 square feet on each of the two floors, and a 9,000-square-foot mezzanine. Nordstrom closed the store in April 2018.

Deacon said the project team is seeking a new future for the building, which was completed in 1980.

鈥淲e’re investigating a few different possibilities,鈥� Deacon said. 鈥淲e’re looking at fitness, entertainment, even hospitality and multifamily.鈥�

He added, 鈥淲e’re out in the market talking with people, and seeing what the best fit is going to be.鈥�

Deacon is partnering with Kelly McDonald and Patrick Carney, two Salem-area investors. Terms of the deal were not disclosed. Marion County recorded the sale on June 17, but did not provide the purchase price. Nordstrom Inc. was the seller, while two limited liability companies tied to Deacon and Carney were the buyers.

The property at 420 Center St. N.E. is located within an opportunity zone that covers much of central Salem, conferring a host of tax advantages.

鈥淲e feel very good about the location 鈥� the downtown,鈥� Deacon said. 鈥淲e like what downtown Salem has to offer. We think it’s going to be a growing, developing area.鈥�

Deacon said he’s growing more comfortable in the Salem market. In West Salem, Deacon is nearing completion on a three-building mixed-use development called The Pointe at Glen Creek. The development will open around Aug. 1 with tenants such as Gilgamesh Brewing, pet supplies store Mud Bay and a DaVita dialysis center.

Deacon Development used Deacon Construction to build the project at Glen Creek Road and Wallace Road.

鈥淚t took some creativity to turn an industrial-use site into what I think is going to be a very appealing corner restaurant-retail site,鈥� Deacon said.

Deacon Development is likely to use Deacon Construction for tenant improvements in the ex-Nordstrom building as well, Deacon said.

鈥淥ur philosophy is we use the contractor that is best suited for the work,鈥� he said. 鈥淚 would say that with Deacon Construction’s background in remodel and retail and seismic, they would be a good fit.鈥�

The building may need a seismic retrofit, depending on its eventual use, Deacon said.