Jimmy Johns sandwiches to open in FlatIron District!
Great News, the first real retail in the FlatIron district. There are others, but they are so niche that most people dont' know or visit. This is great news for downtown in a down economy! This will really help tie in FlatIron w/ Deep Deuce and then Deep Deuce to Bricktown. Can't wait for the FlatIron Lofts to start!!!
Jimmy John’s sandwich shop to be first eatery in Flatiron district
by Kelley Chambers
The Journal Record March 27, 2009
OKLAHOMA CITY – The Flatiron district on the northeast side of downtown Oklahoma City is getting a sandwich shop.
Ryan Storer, right, and Stuart Graham, not pictured, with CB Richard Ellis/Oklahoma, handled the transaction to bring the first Jimmy John’s sandwich shop to Oklahoma City at the Momentum Building at 111 N. Harrison Ave. Bert Belanger, left, and a group of investors bought the building in 2006 and spent $2.5 million in renovations. The shop is the first retailer in the building. (Photo by Maike Sabolich)
A franchise of Illinois-based Jimmy John’s is set to open in the Momentum Building, at 111 N. Harrison, in July.The sandwich shop will be the first restaurant in that immediate area, where developers are working on residential and commercial projects. It will also sit between the central business district and the University of Oklahoma Health Sciences Center.
The building is owned by Momentum Partners LLC, led by managing partner Bert Belanger. The group purchased the 1956 building in 2006 for more than $1.4 million. They spent about $2.5 million renovating it for office and retail space. It was originally built for use by the Oklahoma Publishing Co.
Jimmy John’s will occupy 1,200 square feet on the first floor. The franchise is owned by Iowa investors Anthony Petersen and Mark Holkamp.
It will be the first Jimmy John’s in Oklahoma City. Other franchisees own one store in Norman and two in Edmond.
The company was started in 1983 by 19-year-old Jimmy John Liautaud. The company Web site shows the company has about 690 stores.
Ryan Storer and Stuart Graham, with CB Richard Ellis/Oklahoma, handled the transaction.
Storer said the Jimmy John’s stores in other markets have done well in urban areas and near universities. The store in Norman and one in Edmond are near universities.
Petersen has worked for the company for four-and-one-half years and is moving to Oklahoma to open his first store. Once this one opens, Petersen said he and Holkamp plan to look at additional sites around the city.
The company steered their franchise hunt toward Oklahoma.
“We were looking for an area large enough that we could expand and grow,” Petersen said. “There were only a few places to choose from and Oklahoma City was the best one.”
The company lists the price for the initial investment in a franchise at $35,000. With development, fees, equipment, fixtures and other costs, the total investment to open a franchise store varies from $289,000 to $386,000.
Petersen said he is aware that the neighborhood around the store often gets quiet after 5 p.m. and there is little activity most weekends.
The corporate office will determine the hours and help determine when the store will be open. The typical Jimmy John’s is open from 11 a.m. to 9 p.m. daily.
The stores offer free sandwich delivery within a range determined by the corporate office, but Petersen said it will likely encompass downtown, Midtown, and the Health Sciences Center.
Construction will begin in May.
Belanger said the sandwich shop is by no means the largest tenant, but has helped nearly fill the 29,000-square-foot building. With Jimmy John’s in place, there is about 1,800 square feet available.
“Jimmy John’s is a tiny lease but it’s a really big deal in terms of getting the first retail in that building,” Belanger said. “It’s a high-visibility location.”
http://www.journalrecord.com/article.cfm?recid=97206
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Originally Posted by metro
And ok I'm being selfish, I want to keep them down there, don't let that location fail! I'm begging everyone. I just can't handle driving all the way up to Edmond for some Philly Cheesesteak goodness.
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