Somehow, I doubt the journalistic integrity of a cable TV show called "Gangland." I was at Crossroads about a month ago and saw more retirees power walking than gangbangers. If it's grandma feels safe enough to exercise there, how bad can it be?

What time did you go? Perhaps there's nothing left the "troubled youth" even want to visit anymore. The mall was a little bit more active when that incident Gangland talked about occurred.

"Grandma Power Walker" is like the grim reaper to all malls. Far worse than any gang banger.

Goodie. Another CRM thread. Exciting, eh?

Uhhhh, Thundie, I hate to be the one to tell you this, but this thread is a year and a half old.

Uhhhh, Thundie, I hate to be the one to tell you this, but this thread is a year and a half old.

Its a technological glitch.

It was resurrected by anniemae, or maybe she is one of the CRM Zombies (maniacal laughter)

Oklahoma City's Raptor Properties buy Crossroads Mall from Federal Reserve




Local investors bought Crossroads Mall on Tuesday in a deal that will surprise people who assumed it was doomed: They plan to keep it open as a mall.

Mike Dillard and Roddy Bates, owners of Raptor Properties LLC, paid $3.5 million for the long-struggling mall at Interstate 35 and I-240. The mall had been owned by the Federal Reserve Bank of New York since 2008 in one of the oddest pieces of fallout from the federal banking bailout.

The buyers, who were surprised after taking a good look at the property, are ready to take Crossroads forward, spokesman John Wooley II said.

“We were all blown away. When we thought of Crossroads, we thought, ‘Is that still open?' We figured we'd see a lot of neglect,” he said. “We walked in (and inspected it) and thought, ‘Minus the Pepto Bismol railing, that (property) is probably in better shape than any mall around.'”

Bargain buy

As recently as June, the asking price for the 762,532-square-foot property was $6 million, one-fourth the $24 million asked when the mall property, which then included other space that has since sold, landed among Price Edwards & Co.'s retail listings in summer 2009.

Raptor Properties acquired the main mall building with 383,784 square feet; the former J.C. Penney store, 198,358 square feet; the former Steve & Barry's, 157,000 square feet; and the former Ward's Automotive, 23,390 square feet. Several other former Crossroads properties previously sold to other investors.

With replacement cost estimated at $125 per square foot, the buyers got Crossroads at a price with plenty of room to maneuver as they work to improve it, possibly rebrand it and return its reputation as a southside destination.

Retail revival?

Raptor said it hopes to work with Oklahoma City and South Oklahoma City chamber officials to revive Crossroads retail — but not high-end.

“The price is right for Raptor and (Bates and Dillard) are looking forward to bringing some TLC to the mall,” Raptor Properties said in a statement. “The property has been in receivership for over 3.5 years. The mall is in great shape, but Raptor looks to make some improvements on appearance, open up the leasing gates and attract previous tenants back as well as new retailers.”

A woman who said she was a manager at Zales: The Diamond Store indicated that she and other tenants were gladdened by Raptor's purchase and its plans, but referred questions to Zale Corp. headquarters in Irving, Texas. Other national tenants at Crossroads did likewise late Tuesday, too late to make contact with corporate spokesmen.

Troubled property

Raptor Properties was a late entry in a short line of potential buyers that have tried to buy Crossroads, showing an interest only this summer after the latest deal fell apart. Once the principals took a good look, they realized it had more potential than it was credited for, Wooley said.

Crossroads' recent reputation has had a lot to do with its troubled ownership, although uncertainty associated with the tangle of high finance did affect operations. The nearly vacant property still has about 50 tenants, mostly retail, but on short-term leases.

The likelihood of an alternative use for the space led Price Edwards to remove it from its retail property survey just last spring.

Wooley said large spaces such as the former Montgomery Ward space might be considered for distribution or some other nonretail use.

Price Edwards' last marketing flyer for Crossroads suggested selective mixed use for the property with vacant anchor spaces reserved for office, back office, or flex space.

Price Edwards said will consider how to treat the property before its next survey at year's end, said Jim Parrack, senior vice president.

Parrack said no one with Price Edwards could talk about the property or the sale, citing a confidentiality agreement with the seller, an entity of the Federal Reserve, which the firm represented in the sale. Broker Paul Ravencraft worked the transaction. Frontier State Bank provided financing. Price Edwards will continue to manage the mall and market the space, Wooley said.

The seller was Maiden Lane LLC, a “special purpose vehicle” created by the New York Fed in 2008 as part of the Fed-led takeover of Bear Stearns Cos. Inc. by JPMorgan Chase & Co.; Maiden Lane took a portfolio of Bear Stearns assets that JPMorgan found too risky — even though it acquired Bear Stearns at a bargain.

Bear Stearns, then the Fed and Maiden Lane, wound up with Crossroads because the former mall owner, Macerich Co., had refinanced $61.2 million with Bear Stearns in 2006.

Read more: http://newsok.com/oklahoma-citys-raptor-properties-buy-crossroads-mall-from-federal-reserve/article/3603937#ixzz1Xvw9HEks

BigBadBen: know you are just trying to be helpful, but the Oklahoman prefers that you just post an excerpt of the story, with the link (like you did). Probably too late for you to self-edit so maybe the Mods can.

BigBadBen: know you are just trying to be helpful, but the Oklahoman prefers that you just post an excerpt of the story, with the link (like you did). Probably too late for you to self-edit so maybe the Mods can.

Yeah, I hate it when The Oklahoman does that. They should be thankful that their bandwidth are being saved when people just read the article right here. At least the poster did link back. lol

Thunder, would you be ok if I went to your booth and took one of your items home with me? At least I'd be visiting your shop. I hope this doesn't come off as being hostile, not meaning it that way. But seriously, this story was written by someone who works for the paper, and it's their product.

Thunder, would you be ok if I went to your booth and took one of your items home with me? At least I'd be visiting your shop. I hope this doesn't come off as being hostile, not meaning it that way. But seriously, this story was written by someone who works for the paper, and it's their product.

The article is not something that is being sold. There isn't harm in it, really. For example, how many newspaper has been passed around? Made available for multiple people at barber shops, etc? :-)

The article is not something that is being sold. There isn't harm in it, really. For example, how many newspaper has been passed around? Made available for multiple people at barber shops, etc? :-)

How do you think Steve gets paid? Ever heard of advertising. Thats kind of hard when people are not reading directly from the Oklahoman website. At least in your barbershop example advertisers sometimes take that into consideration. That form of media is slowly dying, though.

. . . the "not high-end retail" concerns me. . .what do they consider high-end?

The article is not something that is being sold. There isn't harm in it, really. For example, how many newspaper has been passed around? Made available for multiple people at barber shops, etc? :-)

Thunder, newspapers and news sites rely on readers visiting their sites, driving up advertiser interest. Copying and pasting is wrong.

Thunder, newspapers and news sites rely on readers visiting their sites, driving up advertiser interest. Copying and pasting is wrong.

Fine. :-(

Just curious, all the ads, are The Oklahoman being paid each time the ads are displayed or clicked on?

Not sure of the particulars, but I would venture a guess that advertising rates are dependent on traffic to the site, sort of like rates = newspaper/magazine subscribers
rates = ratings (TV/Radio)

Depending on the frequency the advertiser wants their ad to appear online (a constant banner ad), one that gets put into rotation, if it is "static" of a popup etc. Might be similar to the length of the commercial, time of day, particular program, column width, prime space like inside front/inside back or back covers, along with a host of other variables.

Ya know, it gets uncomfortable after a while, seeing me or my employer always come up in these different threads. Let's just all agree not to do full copy and pastes and move on. No offense... just wanting to get back to Crossroads.
Megax, now that you've got a shot at your dream coming true w/ Crossroads, do you know of any malls across the country that might serve as an example of how a mall like this can be revived?

Yeah, I hate it when The Oklahoman does that. They should be thankful that their bandwidth are being saved when people just read the article right here. At least the poster did link back. lol

I'm sure the Oklahoman would love the traffic as I am sure they make some good money off of ad revenue which is calculated by the amount of traffic a site can drive. ;) call it i-conomics!

I'm sure the Oklahoman would love the traffic as I am sure they make some good money off of ad revenue which is calculated by the amount of traffic a site can drive. ;) call it i-conomics!

Whatever you want to call it, if it helps keep journalists like Steve employed, I'm all for it. Stealing work and putting it somewhere else robs them of the site views that help employ Steve, and other journalists like him, at a difficult time for newspapers.

As for Crossroads, I think Steve's question is a good one. Does anyone here know of any dead malls being turned around - anywhere?

Steve, you should write an article or blog to get it out there listing what you want to see at the mall, what Megax want to see at the mall, what Thunder want to see at the mall, and what OKCTalk want to see at the mall. Try to get the new owners aware of what you written and hopefully they will note it all down under consideration.

What would I like to see at Crossroads Mall?

1. The name of the mall to remain the same.
2. Complete repaving of the entire surface parking lots.
3. More beautification of the parking lots to include trees and shrubs.
4. Annual flowers planting along near of the building.
5. Complete exterior makeover with modern stones, etc.
6. Complete blue neon lights (in multiple lines) all around the building, including the anchors.
7. For #6 above, maybe give the anchors an option for their own colors.
8. New signage on all sides of the property, raised higher, and outlined in neon lights.
9. Possibly a large fountain or two outside near the main mall entrances.
10. Complete arch makeover of all major mall entrances.
11. New flooring throughout the mall. Remove the rails and replace with creative glass design (similar to PSM).
12. Possibly a new indoor state-of-the-art fountain with colorful shows.
13. Consolidate all food vendors within the main core area of the mall.
14. upgrade and enhance security from all standpoint/viewpoint.
15. Offer incentives to nearby movie theater to do complete interior and exterior makeover.
16. Create an enclosed pathway from the mall to the movie theater.
17. Offer shuttle rides from the mall to the movie theaters at certain set times.
18. Lowered prices to retailers and businesses. Special incentives for the first year to attract.
19. Remain in contact with carnival groups to set up outdoor attractions at least twice a year.
20. Listen to what vendors and customers want for the mall.

I've always wondered if greed by previous owners didn't kill Crossroads - they hid the mall by surrounding it with pretty forgettable big boxes and strip shopping centers, didn't make improvements to the mall itself. Now that much of those outlying buildings are empty, I wonder if the mall's chances couldn't be improved by clearing them out.

Megax, now that you've got a shot at your dream coming true w/ Crossroads, do you know of any malls across the country that might serve as an example of how a mall like this can be revived?

I'm not sure this is apples to apples because of the location but:

http://articles.latimes.com/2010/aug/07/business/la-fi-santa-monica-place-20100805

I'm not sure this is apples to apples because of the location but:

http://articles.latimes.com/2010/aug/07/business/la-fi-santa-monica-place-20100805

It's not just the location - they turned it upside down!


"Previously an enclosed, fortress-like structure designed more than three decades ago by architect Frank Gehry, Santa Monica Place has been converted to a three-story, open-air shopping center with views of the Pacific Ocean, Santa Monica Mountains and Santa Monica Pier."

"We call it our loft at the beach," said Bloomingdale's spokeswoman Anne Keating. "The way it's been built and the way it's been designed, it gives people the rare opportunity to have a shopping experience and still feel like they're in a real urban downtown environment. It's really quite extraordinary."

Yeah, I always wondered why they took out the fountain in the first place. Cost of maintenance? It would be nice to see Dillard's come back, as well as Foley's. They would be able to give JCP and Kohl's a run for their money.

WOW...all I can say is that I am THRILLED and STOKED about the fact that someone locally had the guts to buy Crossroads and decided to keep it as a mall, with plans to renovate and market it to out of state retailers!:) Crossroads has SO much potential to become a destination mall. It's about time it becomes a jewel again! GREAT news!!!

As for Crossroads, I think Steve's question is a good one. Does anyone here know of any dead malls being turned around - anywhere?

Not many malls are turned around. It usually requires a nearly complete destruction of the mall if retail is ever to be a primary function again. Some malls can be turned into back office operations but that usually isn't very succesful either (see Shepard Mall). Here are some malls that I know of that were torn down and rebuilt as some other form of retail/mixed use. If the Crossroads site is going to survive as retail the land will need to be scraped clean and started over.

These mall either suffered from new malls being built near-by or the neighborhoods they were in going down hill. All 5 are now doing well as something other than an enclosed mall. You can do your own Google searches on the history of these 5 malls.

Gateway Mall - Jacksonville, FL (bad neighborhood)
Vero Beach Mall - Vero Beach, FL (new mall built near-by)
North Valley Plaza - Chico, CA (new mall built near-by)
Clearwater Mall - Cearwater, FL (new mall built near-by)
Eastgate Mall - Chattanooga, TN (bad neighborhood and new mall built near-by)

Malls can be turned around, not perfect examples because they are more of the strip variety and not enclosed but two successful ones come to mind:

French Market Mall: the enclosed part of the all was nearly completely gutted and replaced with Burlington taking over the space. The French market theme is completely abandoned only the name remains. The rest of the strip part of the mall is nearly fully occupied again.

Walnut Square (Southwest 74th & Penn): that mall had troubled times when Wal-mart relocated. Now that Hobby Lobby was relocated into the old Wal-mart space on one end with Big Lots and Conn's on the other, it looks like most of the facility is leased. Not sure about the space that is being vacated by the business college on the west end. Even the Uptown thrift store got a complete overhaul recently with new flooring, racks, shelving etc. They rearranged the floor plan some and looks much bigger without enlarging the store any).

On the other hand there are a few enclosed malls that haven't fared as well in the metro area.

Steve, you should write an article or blog to get it out there listing what you want to see at the mall, what Megax want to see at the mall, what Thunder want to see at the mall, and what OKCTalk want to see at the mall. Try to get the new owners aware of what you written and hopefully they will note it all down under consideration.

What would I like to see at Crossroads Mall?

1. The name of the mall to remain the same.
2. Complete repaving of the entire surface parking lots.
3. More beautification of the parking lots to include trees and shrubs.
4. Annual flowers planting along near of the building.
5. Complete exterior makeover with modern stones, etc.
6. Complete blue neon lights (in multiple lines) all around the building, including the anchors.
7. For #6 above, maybe give the anchors an option for their own colors.
8. New signage on all sides of the property, raised higher, and outlined in neon lights.
9. Possibly a large fountain or two outside near the main mall entrances.
10. Complete arch makeover of all major mall entrances.
11. New flooring throughout the mall. Remove the rails and replace with creative glass design (similar to PSM).
12. Possibly a new indoor state-of-the-art fountain with colorful shows.
13. Consolidate all food vendors within the main core area of the mall.
14. upgrade and enhance security from all standpoint/viewpoint.
15. Offer incentives to nearby movie theater to do complete interior and exterior makeover.
16. Create an enclosed pathway from the mall to the movie theater.
17. Offer shuttle rides from the mall to the movie theaters at certain set times.
18. Lowered prices to retailers and businesses. Special incentives for the first year to attract.
19. Remain in contact with carnival groups to set up outdoor attractions at least twice a year.
20. Listen to what vendors and customers want for the mall.

You forgot the most important thing..........
#21. Keep the "thug/gansta" element out.

You forgot the most important thing..........
#21. Keep the "thug/gansta" element out.

Sweetheart, we all want that. If you'd read #14, sweetie, you will see that its related.

Many time I go there, I never see gang activities or gangsters. People are exaggerating on this part.

It is part of #21, also.

What I'd like to see : I heard on of the owners speak about the possibility of Dillards coming back to Crossroads as a kind of Dillards outlet. That would be wonderful. I wish some of the other big names would consider that. Why build an expensive, new outlet mall when there is already a mall located in a perfect place? The South side of town would be an idea location as we have nothing like the highly touted outlet mall that is located in an area far outside of our usual shopping areas. Personally I don't care to drive to the other malls, too far away, too much time, too much traffic to get there, just overall inconvenient. Outlet stores, kitchen stores (don't ask me why, but they always seem busy) a few fast foods and a couple of nice restaurants, and maybe a Everything Made In America store would be a good start. I was in Crossroads just a few days ago, it was clean and contrary to what I'd heard it didn't appear rundown. I do believe some brighter lightening would make everything look better. The only time I felt even slightly uncomfortable was in some of the areas off the main concourse where there were no stores open and it was very dark. Obviously allowing groups of baggy pants "yuts" congregating and just hanging out can't be tolerated, so security will be needed to break up these type gatherings. If they aren't shopping or eating they need to hit the road!

Some malls can be turned into back office operations but that usually isn't very succesful either (see Shepard Mall). )

Really? Shepherd Mall has remained nearly 100% leased since it was converted to office space.

Steve, you should write an article or blog to get it out there listing what you want to see at the mall, what Megax want to see at the mall, what Thunder want to see at the mall, and what OKCTalk want to see at the mall. Try to get the new owners aware of what you written and hopefully they will note it all down under consideration.

What would I like to see at Crossroads Mall?

1. The name of the mall to remain the same.
2. Complete repaving of the entire surface parking lots.
3. More beautification of the parking lots to include trees and shrubs.
4. Annual flowers planting along near of the building.
5. Complete exterior makeover with modern stones, etc.
6. Complete blue neon lights (in multiple lines) all around the building, including the anchors.
7. For #6 above, maybe give the anchors an option for their own colors.
8. New signage on all sides of the property, raised higher, and outlined in neon lights.
9. Possibly a large fountain or two outside near the main mall entrances.
10. Complete arch makeover of all major mall entrances.
11. New flooring throughout the mall. Remove the rails and replace with creative glass design (similar to PSM).
12. Possibly a new indoor state-of-the-art fountain with colorful shows.
13. Consolidate all food vendors within the main core area of the mall.
14. upgrade and enhance security from all standpoint/viewpoint.
15. Offer incentives to nearby movie theater to do complete interior and exterior makeover.
16. Create an enclosed pathway from the mall to the movie theater.
17. Offer shuttle rides from the mall to the movie theaters at certain set times.
18. Lowered prices to retailers and businesses. Special incentives for the first year to attract.
19. Remain in contact with carnival groups to set up outdoor attractions at least twice a year.
20. Listen to what vendors and customers want for the mall.

Guys, if you re-read the article from The Oklahoman, there are some areas of concern:
http://newsok.com/oklahoma-citys-rap...#ixzz1Xvw9HEks

If they think that minor cosmetic changes, like changing the Pepto-Bismol paint, are going to turn the mall around, then they're as crazy as previous owners have been.

They're also considering turning the larger anchor spaces into office space. There's nothing retail about that.

Patrick, stop posting the same thing and being pessimistic in multiple threads. We get it that you hate Crossroads Mall and only want to say bad things about it.

I hope for nothing but the best for Crossroads Mall, but folks make promises all the time.....and if they're already saying that they're going to use anchor spaces for office space, that sells the mall short. It either needs to be done right, or not at all.

Patrick, meet Debbie Downer
Debbie, this is Patrick

Oh, my bad. That's a mirror.

Let me repeat, it either needs to be done right, or not at all. None of this half a** stuff. We've already done that with Lower Bricktown.

And they can start by following Thunder's list. Maybe they should hire Thunder as their project manager! LOL!

And they can start by following Thunder's list. Maybe they should hire Thunder as their project manager! LOL!

Yes. To the dudes out there reading this quietly, please contact me thru PM on here or by email at ThunderOKC@aol.com to discuss employment. I am very reasonable and can turn this place around gloriously.