Retail

Current
Far North
no



Address: 2501 W. Memorial
Phone:
Hours:
Type:
Development: Quail Springs Mall
Status: under construction, to open October 18, 2014
Square Feet 150,000
Links:
Official Website (http://www.vonmaur.com/default.aspx)
Facebook Page (https://www.facebook.com/vonmaur)


http://www.okctalk.com/images/pete/vmwiki1.jpg


Information & Latest News
October 18, 2014: Grand Opening
10/31/13: $12.75 million building permit to remodel to retail space (http://www.okc.gov/Access/Cap/CapDetail.aspx?Module=Permits&TabName=Permits&capID1=13BRE&capID2=00000&capID3=12398&agencyCode=OKC&IsToShowInspection=)
10/31/13: $7 million building permit to renovate to shell (http://www.okc.gov/Access/Cap/CapDetail.aspx?Module=Permits&TabName=Permits&capID1=13BRE&capID2=00000&capID3=12397&agencyCode=OKC&IsToShowInspection=)
2/27/13: Von Maur to open store (http://newsok.com/von-maur-department-store-to-open-at-quail-springs-in-2014/article/3759532)
2/23/12: Sears sells store (http://www.searsholdings.com/pubrel/pressOne.jsp?id=s16310_item122416)


Here are the floor plans and elevations for this project. The exterior will look very similar to the color photo.

http://www.okctalk.com/attachments/retail-services/6754d1392740569-von-maur-vonmaur1.jpg



http://www.okctalk.com/attachments/retail-services/6752d1392740568-von-maur-vmsite.jpg



http://www.okctalk.com/attachments/retail-services/6753d1392740569-von-maur-vmsouth.jpg



1st Level, south half:
http://www.okctalk.com/attachments/retail-services/6746d1392740564-von-maur-vm1stsouth.jpg



1st Level, north half:
http://www.okctalk.com/attachments/retail-services/6745d1392740563-von-maur-vm1stnorth.jpg



2nd Level, south half:
http://www.okctalk.com/attachments/retail-services/6748d1392740565-von-maur-vm2ndsouth.jpg



2nd Level, north half:
http://www.okctalk.com/attachments/retail-services/6747d1392740565-von-maur-vm2ndnorth.jpg


Gallery

What stores do General Growth operate?

General Growth owns Quail Springs Mall but they previously did not own the Sears store at the mall. Clearly, General Growth must have some plans for the store if they are purchasing it.

Would not surprise me at all for this to represent the leading edge of the storm that will eventually bring an end to Sears entirely.

I'm no expert, but what I've read in some business articles suggests Sears may go down in merchandising circles as one of the most incompetently managed names in American retail history, just bungle on top of bungle on top of bungle. KMart's ownership may represent just the finishing touch on what used to be one of the U.S. biggest names. Although I haven't shopped at Sears in years, it was a nearly-weekly travail to Sears for something when I was growing up. Now its just a forgotten leftover, seemingly just trying to hang on until it finally goes kaput.

Interesting. Is this a matter of the QS store not doing well, Sears liquidating real estate (in their present financial situation), or General Growth giving them a really good offer for properties that they have certain plans for?

I could see Sears closing the QS store because they don't get very good sales/performance for the value of the real estate that the store is at. They seem to manage to stay afloat even in "low-rent" locations that aren't retail hotspots (ie Heritage Park, 44th/Western in the OKC area). Perhaps another department store could get better value from the property than Sears.

Anyway, $270M seems like a very high price for this deal (especially since some of the sales are just leases?) Makes me think even more that it could be GGP having some sort of big plans for the malls (like a "town center"-style redevelopment). The assessor places the value of the QS Sears building at a bit under $7M. I'm not sure about the value of the rest of the properties they're getting rid of, but there don't really appear to be any that are insanely expensive pieces of real estate (maybe except for Honolulu). The only other area I know about is the Council Bluffs one, and that's probably not even worth as much as the Quail location.

If they plan to lease it to another department store, i'd be curious as to who would open a store there. I don't foresee high-end department stores like Saks or Nordstrom wanting to locate at Quail Springs, it's probably not as upscale as they like (as opposed to Penn Square for instance). And the cheaper department stores tend to open smaller stores in strip malls/power centers these days. In fact i'd wonder how long it will be until JCPenney moves out of Quail and opens a smaller store nearby (like they did with Crossroads).

It's probably a preemptive move by the mall owner as department stores have been failing all over the U.S. and they leave huge, depressing holes.

At least this way they can take control and try to redevelop or lease the space.


It wasn't that long ago that Sears was the biggest retailer in the U.S. An absolute stunning fall and cautionary tale to evolve or die.

Would not surprise me at all for this to represent the leading edge of the storm that will eventually bring an end to Sears entirely.

I'm no expert, but what I've read in some business articles suggests Sears may go down in merchandising circles as one of the most incompetently managed names in American retail history, just bungle on top of bungle on top of bungle. KMart's ownership may represent just the finishing touch on what used to be one of the U.S. biggest names. Although I haven't shopped at Sears in years, it was a nearly-weekly travail to Sears for something when I was growing up. Now its just a forgotten leftover, seemingly just trying to hang on until it finally goes kaput.

You are exactly right. I think the end of Sears is fast approaching.

Interesting. Is this a matter of the QS store not doing well, Sears liquidating real estate (in their present financial situation), or General Growth giving them a really good offer for properties that they have certain plans for?

I could see Sears closing the QS store because they don't get very good sales/performance for the value of the real estate that the store is at. They seem to manage to stay afloat even in "low-rent" locations that aren't retail hotspots (ie Heritage Park, 44th/Western in the OKC area). Perhaps another department store could get better value from the property than Sears.

Anyway, $270M seems like a very high price for this deal (especially since some of the sales are just leases?) Makes me think even more that it could be GGP having some sort of big plans for the malls (like a "town center"-style redevelopment). The assessor places the value of the QS Sears building at a bit under $7M. I'm not sure about the value of the rest of the properties they're getting rid of, but there don't really appear to be any that are insanely expensive pieces of real estate (maybe except for Honolulu). The only other area I know about is the Council Bluffs one, and that's probably not even worth as much as the Quail location.

If they plan to lease it to another department store, i'd be curious as to who would open a store there. I don't foresee high-end department stores like Saks or Nordstrom wanting to locate at Quail Springs, it's probably not as upscale as they like (as opposed to Penn Square for instance). And the cheaper department stores tend to open smaller stores in strip malls/power centers these days. In fact i'd wonder how long it will be until JCPenney moves out of Quail and opens a smaller store nearby (like they did with Crossroads).

Yeah, it's a little hard to figure out what GGP has planned. The Honolulu and Woodlands locations might be good candidates for a higher-end replacement stores, but not so for most of the rest of that list.

I have a tough time believing that Sears at 44th and Western location is doing more than barely hanging on. The times I drive by there the parking lot is nearly vacant, certainly compared to Target across the street.

Yep It looks as if Sears is going the way of Montgomery Ward. I'm giving Sears 2 years and thats being nice.

Lifetime warranty on all my craftsman stuff is about to be useless if they go under....

Yeah, and I know that QS Mall is having a lot of turnover, these days. I know Rue 21 is getting ready to open in the mall, but Stride Rite closed earlier this year, and Suncoast Music/Movies is closing VERY soon (every time I walk at the mall, at least one night a week, they have a Closing Sale and are selling fixtures). There may be other leases winding up, as well. So, the fact that Sears will close at some point does not surprise me. I hope GGP knows what they are doing at QS Mall.

From CBS: Sears to spin off some stores, reports loss (http://www.cbsnews.com/8301-500395_162-57383455/sears-to-spin-off-some-stores-reports-loss)

"The operator of Sears and Kmart also says they will sell 11 stores to General Growth Properties for $270 million."

Would be nice to see some type of development similar to The Woodlands (i.e. an outdoor shopping area as well as the typical mall) if, or when, the store closes. Of course, it could be an opportunity for one of those Midwestern department store chains to open up in OKC - Von Maur or Younkers. I would imagine Dillard's would ultimately win and move into the space since they're into segregation of women's and men's.

When a department closes at a mall near me here in Cali, they tore it down the created an extension to the mall that was outdoors, with several sit-down restaurants.

Turned out very nice and it kind of walks the line between mall and lifestyle center.

Sears is still like the 4th or 5th largest retailer and is ranked number 7 (http://www.internetretailer.com/top500/list/) in on-line sales.

When a department closes at a mall near me here in Cali, they tore it down the created an extension to the mall that was outdoors, with several sit-down restaurants.

Turned out very nice and it kind of walks the line between mall and lifestyle center.

That does sound pretty nice.

Sears Holdings also includes K-Mart.

Sears is still like the 4th or 5th largest retailer and is ranked number 7 (http://www.internetretailer.com/top500/list/) in on-line sales.

Amazon, Apple, and Wal-Mart were no surprise to me but the rest of the top 10 was kind of unexpected to say the least.

Maybe a new home for Old Paris?

Maybe a new home for Old Paris?

They should go to Crossroads.

http://newsok.com/sears-store-in-oklahoma-citys-quail-springs-mall-is-among-11-that-will-sell-and-close-in-2013/article/3651684

I'm wondering if Sears may have a behind the scenes Gentlemens agreement with Walmart. The county assessors site still shows Sears owning the land the neighborhood market occupies on 44th. I'm willing to bet they were considering moving the store elsewhere and Walmart probably has a contract for lease to own and first dibs on the Sears store site. They could easily build a Supercenter on that site and convert the existing store into retail lease space.

I used to work at that Sears during the holidays. Talked to some friends still there and they were completely unaware this happened. Looks like employees have to read it in the news before Sears even tells their own employees.

I used to work at that Sears during the holidays. Talked to some friends still there and they were completely unaware this happened. Looks like employees have to read it in the news before Sears even tells their own employees.

It sounds like they will at least have about a year to make plans. Hopefully there will be something ready to take Sears place when it closes that they can fall back on.

I'm wondering if Sears may have a behind the scenes Gentlemens agreement with Walmart. The county assessors site still shows Sears owning the land the neighborhood market occupies on 44th. I'm willing to bet they were considering moving the store elsewhere and Walmart probably has a contract for lease to own and first dibs on the Sears store site. They could easily build a Supercenter on that site and convert the existing store into retail lease space.

Don't think so. If you are referring to the Neighborhood Market at 44th and S Western, that land is shown as owned by Wal-Mart. (4420 S Western Ave). The Sears store on S. Western (4400 S. Western) is owned by Sears.

That isn't all that untypical. The parent company of HomeTown/Ryans/FireMountain recently filed for bankruptcy reorganization and the manager of the Hometown at 63rd & NW Exprswy knew nothing about it.

I imagine this store would be a good fit:

http://www.belk.com/
http://en.wikipedia.org/wiki/Belk

Maybe a Steve & Barry's Amalgamated Universe will also move into this abandoned Sears...for at least a year or so.

I imagine this store would be a good fit:

http://www.belk.com/
http://en.wikipedia.org/wiki/Belk

I agree that would be a good place for a Belk.

... and then for the dream: life would be really joyful if we could get Penney's to sell out their spot in Penn Square and get a Nordstrom.

Don't think so. If you are referring to the Neighborhood Market at 44th and S Western, that land is shown as owned by Wal-Mart. (4420 S Western Ave). The Sears store on S. Western (4400 S. Western) is owned by Sears.

There was no think so or don't think so about it.

I used the map search feature to pull that information. I didn't use the address search. They have not updated the map (and probably won't update the map until they do the next aerial photo.) That's how I came up with that. I always use the map search because the address search is too time consuming and is full of error messages.

Since we are being anal about it American Greetings and Red Box also have deeds listed at that address.

There was no think so or don't think so about it.

I used the map search feature to pull that information. I didn't use the address search. They have not updated the map (and probably won't update the map until they do the next aerial photo.) That's how I came up with that. I always use the map search because the address search is too time consuming and is full of error messages.

Since we are being anal about it American Greetings and Red Box also have deeds listed at that address.

?? Whatever method you used, it seems to have caused you to post incorrect information. The Neighborhood Market at 44th and s. western is owned by Wal-Mart, according to the assessor's records. The nearby Sears store is owned by Sears. The record also clearly shows that Wal-mart bought the property from Sears in 2003 (I.e., Sears no longer owns the property).

The records also show personal property at the Neighborhood Market address that is owned by Redbox and by American Greetings. There are no deeds shown for Redbox or American Greetings. If you visit that Neighborhood Market you will probably find a Redbox and an American Greetings greeting card display.

Whatever. I explained my source go gripe about something else.

Whatever. I explained my source go gripe about something else.

Don't take yourself so seriously, dude. There is no gripe or attack here. Merely a simple correction of a misstatement of fact.

Seeing that Sears on 44th slowly go to seed is really sad. That whole Sequoyah-Reding shopping center used to be a really vibrant retail area back in the day. My mom loved to shop at Streets, which was a very nice locally owned ladies clothing store, think there was a Kerr's that became a TG&Y Family Center, and the gone-but-not-forgotten Dodson's Cafeteria at the far north end....sorry, sorry, I digress :)

I've read an article online where quail springs stated they have a tennant established already for the vacant sears. What that means exactly is unknown. Being large retail growth is pretty much at a stand still, I would bet the building is razed and an expansion for smaller square footage retail and restaurant space is built.

I used to do A LOT of business with Sears. But due to their lack of great guest service and pushy sales people selling home improvements upstairs at the quail location (have any of you ran into her?) I quit doing business with them altogether. Very sad.

I look forward to what they do when Sears vacates.

I wouldn't be surprised if Sears goes out of business for good in a few years. Their stores haven't been nice in a long time and apparently Craftsman tools ain't what they used to be.

I wouldn't be surprised if Sears goes out of business for good in a few years. Their stores haven't been nice in a long time and apparently Craftsman tools ain't what they used to be.

Craftsman tools have been a joke for years. They used to be really good, then they went in the toilet. Their power tools are the worst; cheaply made, cheap parts, the whole bit. Plenty of better value options out there.

I think what has happened to Sears is terrible. The store at 44th looks awful, and the company itself never figured out how to reinvent itself once catalog sales went by the boards. Sad part is that, with the right management, Sears could have been a leader in the online sales movement..as it is, they're just a corpse the rest of us are just waiting on to stop twitching..

I can't wait to see Sears go. Sure, it will be sad to see the last of the major mall electronics departments go, but Sears has been meh for the last ten years. There is literally nothing there that I've seen that you can't get for cheaper and better at JCPenney, Home Depot, Wal-Mart, Best Buy, Tires Plus, or the internet. I guess it will be a sad day when you can't buy a tv, washing machine, lawn mower, tool set, prom dress, new tires, tuxedo, and hearing aids in the same building. I'd venture to say that Sears will continue on in extremely small markets only until they keel over.

Don't take yourself so seriously, dude. There is no gripe or attack here. Merely a simple correction of a misstatement of fact.


I am not the one that made a big deal about it.. Most of the stuff posted on here is not fact is based on gossip. Most of us read this for entertainment. People like you and Metro ruin the experience because you want to play hall monitor and throw up a flag every time you find something wrong.

90% of the information posted here is based on gossip and news stories from local media outlets that don't even attempt to get the full story.

This is not a court of law, a legal document or anything of the sort. It's a DISCUSSION BOARD!

Stop trying to be the teachers pet. It's just as annoying now as it was in grade school. Yet, I am sure your wonder why nobody likes and you have no friends. It might be the fact that you feel the need to correct everyone in a world that is full of mistakes.

Yeah, GGP purchased the space so they'd have control over it when Sears does close at Quail Springs in 2013. This will avoid the problem Crossroads had trying to get control of the Wards space when Wards went out of business. But, last I talked with GGP, they have no plans lined up for the space, and nobody interested in the space, as of yet. Truth be known, Quail Springs is really hurting right now. A lot of the larger national retailers are leaving the mall, because their stores at Penn Square are selling 2-3 times the volume of their stores at Quail Springs. That's why the entire Abercrombie chain left the mall, and Gap is considering the same. Although I'm not a big fan of that mall anyways, I honestly believe that Quail Springs is in a troubled spot right now, and if they don't repair the hole in the ship, it's going to sink just like Crossroads has.

Yeah, GGP purchased the space so they'd have control over it when Sears does close at Quail Springs in 2013. This will avoid the problem Crossroads had trying to get control of the Wards space when Wards went out of business. But, last I talked with GGP, they have no plans lined up for the space, and nobody interested in the space, as of yet. Truth be known, Quail Springs is really hurting right now. A lot of the larger national retailers are leaving the mall, because their stores at Penn Square are selling 2-3 times the volume of their stores at Quail Springs. That's why the entire Abercrombie chain left the mall, and Gap is considering the same. Although I'm not a big fan of that mall anyways, I honestly believe that Quail Springs is in a troubled spot right now, and if they don't repair the hole in the ship, it's going to sink just like Crossroads has.

Patrick, What is it with Simon? They seem to just know how it's done. If I know a mall is a Simon mall, I know to expect quality. The same can't be said for some of the others. What is it about Simon? Is it higher standards? Management? I know nothing of that business but have wondered about this for a long time.

I could see JCPenney being the first to pull the plug after Sears. Their free standing stores are doing really well. I know Moore and Midwest City are constantly packed. They could easily relocate to Edmond or East or West on the Kilpatrick.

My money would be Macarthur and Memorial or I-35 and 15th. Both are about explode because INTEGRIS and Mercy are positioned to expand rapid over the next 5-10 years in those areas. Saint's will likely build their place on I-35 and 15th in the coming year or two.

If I were GGP I would look at revamping the mall to combination Mains Street style Power Center and Mall.

Patrick, What is it with Simon? They seem to just know how it's done. If I know a mall is a Simon mall, I know to expect quality. The same can't be said for some of the others. What is it about Simon? Is it higher standards? Management? I know nothing of that business but have wondered about this for a long time.

Well, Simon is the nation's largest mall management and ownership company. But, I wouldn't say all of their properties are top notch. I do think good management plays a role, but I think demographics also play a big part. Just remember that Simon also owned Heritage Park Mall and Eastland Mall in Tulsa, and both are now basically gone. But, that was more due to a shift in demographics, and Eastland never really had much of a run anyways. I don't think it was ever at 100% capacity, although I could be wrong on that. But, with Quail Springs, GGP is really mismanaging that mall. They're in a really good demographical area with all of the newer high end residential areas sprouting up all around it. I mean, just think, Gaillardia and Rose Creek are both in their demographical area. I think GGP was headed down the right road with the mall when they did their last renovation and poured millions into the renovation, but I think their main mistake with the renovation was trying to make the mall more of a destination for middle class families, by adding things like the movie theater, the children's play area, the Route 66 themed food court, middle of the road floor treatments with a prairie look, etc. Their focus on store selection was also geared more for stores that would attract families. Problem is, the middle class isn't that dominant right now, and those that are part of the middle class aren't shopping at the mall, but instead are shopping at big box retailers like Target and Wal-Mart. Shortly after GGP did the renovation at Quail, Urban Retail Inc., owner of Penn Square at the time, poured milions into the mall on upscale amenities like marble floors, marble planters and other treatments, and the like; they also spent money giving upscale retailers incentives to move into their mall. They chose not to go after the big movie theater, knowing that would only lead to teen problems, and instead focused on securing better retailers. That's why they still have a suck movie theater....that's simply not their focus.

Thanks for the informative post, Patrick. I was reading after I asked you the question last night about how Simon actually wanted to buy General Growth on a couple of different occasions and things never worked out. I suppose you are correct about not all Simon malls being top-notch. I just know the ones I frequent are usually Simon, so I just assumed. It seems an interesting business to be sure. Thanks again for taking the time for such a thorough response.

Thanks for the informative post, Patrick. I was reading after I asked you the question last night about how Simon actually wanted to buy General Growth on a couple of different occasions and things never worked out. I suppose you are correct about not all Simon malls being top-notch. I just know the ones I frequent are usually Simon, so I just assumed. It seems an interesting business to be sure. Thanks again for taking the time for such a thorough response.

Yeah, the final straw for Simon not buying GGP was probably when GGP filed bankruptcy. Simon already has enough capital debt itself, and it didn't need to take on anymore. And they simply didn't see where adding GGP to their portfolio would increase it's value by much, especially given the increased debt burden. The only thing it really would've done for Simon is enlarge their presence in the mall ownership and management sector.

Simon is just like any other major corporation. They have great assets in their portfolio as well as rotten eggs. And, like with any major corporation, they have to invest their capital in their properties that are going to turn a bigger profit. So malls like Penn Square and Woodland Hills in Tulsa get larger amounts of investment capital compared to Heritage Park and Eastland....they actually don't own HP anymore, but this was the case when they did own it. Prior to HP closing, some asked by Simon wouldn't invest more capital into renovating the mall. The simple answer is that it was a smaller regional mall located in a declining part of Midwest City, a town not known for being upscale. So, it just didn't make financial sense to invest more into Heritage Park. They could get a bigger return on their investment by selling Heritage Park for scrap and investing the return into Penn Square. This is just an example of how corporate decisions are made.

Too many long posts, so skipping them all. It's quite sad when an iconic company like Sears have to struggle while people shamelessly contribute to Walmart's empire. I hope the location in Midwest City will remain open while I'm still alive.

Sears was the Walmart of its day.

Lot's of companies are selling their buildings as a means of getting all the debt and operations cost off their balance sheets.
This is a pretty national trend. This does not mean gloom and doom for Sears.. Yet!

Sale completion announced today: http://www.searsholdings.com/pubrel/pressOne.jsp?id=s16310_item127012

I agree that would be a good place for a Belk.

... and then for the dream: life would be really joyful if we could get Penney's to sell out their spot in Penn Square and get a Nordstrom.

Belk would be a great fit for Quail Springs. We had Belk in Charlotte and I shopped there quite a bit as they had excellent sales. They can range in scale from being like a JC Penney's to above Dillard's. Little Rock has a Belk, as do many other smaller cities in the South. I think it would work well in OKC.

There are two or three in Tulsa and one in Stillwater.

I know Owasso has one.

... This does not mean gloom and doom for Sears.. Yet!

For the company, nope. For the local employees and customers it does appears there is a G&D cloud on the horizon.

From the sales notice:

Sears has received the sale proceeds and the stores will continue to operate as Sears locations into 2013 or 2014 with final closing dates to be determined and announced later this year.

There are two or three in Tulsa and one in Stillwater.

One in Tulsa. One in Owasso. One in Stillwater.

For the company, nope. For the local employees and customers it does appears there is a G&D cloud on the horizon.

From the sales notice:

Walking into a Sears store these days is like being transported back into the 1970's. It just oozes old. I remember when going to Sears was A Big Deal, but now its To Be Avoided. I grew up in a substantially Sears house; Kenmore fridge, Kenmore vaccuum, Sears tabletop TV, Sears garage door openers, DieHard car batteries, Craftsman tools...but now, in the middle of my generation, I've gone just the opposite - zero Sears appliances or TV's, just ditched our last remaining DieHard (piece of junk) battery, installed my own Genie garage door openers, and my last Crafstman ratchet just stripped out (and I don't even know if they even honor the lifetime tool warranty anymore). I suspect I'm not the only one with this general experience. Sears just isn't relevant anymore, at least not for us.

I hear they're still gasping/limping along financially, but how escapes me. Surely not from my dollars....I thoroughly expect the Sequoyah Reding store to be spontaneously boarded up and closed just any time, even if it isn't on the list at the moment :)

Walking into a Sears store these days is like being transported back into the 1970's. It just oozes old. I remember when going to Sears was A Big Deal, but now its To Be Avoided. I grew up in a substantially Sears house; Kenmore fridge, Kenmore vaccuum, Sears tabletop TV, Sears garage door openers, DieHard car batteries, Craftsman tools...but now, in the middle of my generation, I've gone just the opposite - zero Sears appliances or TV's, just ditched our last remaining DieHard (piece of junk) battery, installed my own Genie garage door openers, and my last Crafstman ratchet just stripped out (and I don't even know if they even honor the lifetime tool warranty anymore). I suspect I'm not the only one with this general experience. Sears just isn't relevant anymore, at least not for us.



Ditto. They have really destroyed themselves.

One in Tulsa. One in Owasso. One in Stillwater.

Close enough.

General Growth announced today that Nordstrom will replace Sears in The Woodlands Mall. Dare we hope General Growth is working on a similar deal for Quail Springs?

General Growth announced today that Nordstrom will replace Sears in The Woodlands Mall. Dare we hope General Growth is working on a similar deal for Quail Springs?

Its good bet their trying and may be close to securing a deal with someone(maybe not Nordstrom).