White House/Black Market to start construction soon

[Patrick]

Another upscale retailer will be coming to Penn Square in April. White House/Black Market should begin construction soon on its new store inside Penn Square Mall in February. The store will be located at center court, on the lower level next to Coldwater Creek. Currently, OU/OSU A Store Divided has a temporary lease on that space. This is the space where Express used to be located.

Great news for Penn Square. From what I've learned, there will be several great announcements from Penn Square later this Spring.

Currently the mall is 100% leased, with only 3 temporary leases. The space where Pac Sun is located will soon be up for lease, as Pac Sun is moving to a larger location on the upper level in the Dillards West wing....near Hollister. I'd imagine that the 3 temporary leases and the former Pac Sun space willl be leased before too long.

I forgot to ask how the OKC Zoo store did this past holiday season. I went in the store several times and was impressed with the selection. I think a permanent zoo store would be a great addition to the mall, especially since you currently can only buy zoo merchandise at the zoo itself.

[Luke]

From what I've learned, there will be several great announcements from Penn Square later this Spring.

Cool! I wonder what they'll be.

I guess the Apple Store rumor that I had heard was just that, a rumor. For those of you who don't remember, I had posted a while back that according to an Apple Computer rumors site, Penn Square Mall in OKC was going to get an Apple Store by December. That didn't happen. The rumor also said that Woodland Hills Mall in Tulsa would be getting one. I don't know if that ever happened. I think OKC and Tulsa will eventually get Apple Stores. I believe I remember seeing OKC is in the top 5 largest markets in the US without an Apple Store.

Anyways, Patrick, thanks for all your information and connections. I appreciate it!

[floater]

An Apple store would have been cool. Maybe such a computer store could end up in a Flatiron development.

When I checked in with the OKC Zoo store (and bought my godchild a stuffed tiger), they said it was too early to tell whether they were doing well enough to come back.

Anyway, it's nice to see this high end store here. I'm sure the ladies here will like the addition.

[Luke]

Anyway, it's nice to see this high end store here. I'm sure the ladies here will like the addition.

So, it's just a ladies store I assume?

[metro]

Patrick can you shed light on any rumors of stores that may be coming?

[Luke]

Patrick can you shed light on any rumors of stores that may be coming?

I'd be curious what you can dig up too, Patrick.

Thanks!

[floater]

From what I saw in a mall in Dallas, it mostly features lingerie, other ladieswear, and things like handbags/purses. The name is derived from theme of all black or white merchandise. No other colors. Kinda cool, even if I can't buy anything for myself.

[Patrick]

From what I saw in a mall in Dallas, it mostly features lingerie, other ladieswear, and things like handbags/purses. The name is derived from theme of all black or white merchandise. No other colors. Kinda cool, even if I can't buy anything for myself.

You're right floater. White House/Black Market is an upscale women's clothing store offering the items floater mentions. Obviously, as you can tell by the name, everything is black and white. I'd say their prices probably fall more in line with Ann Taylor.

They actually recently opened a store at Spring Creek Plaza in Edmond. Seems like everything that ends up opening at Spring Creek, also opens at Penn Square. you might check out the store at Spring Creek sometime.

[Patrick]

I'd be curious what you can dig up too, Patrick.

Thanks!

Because he knows me somewhat, Bob Landdeck usually gives me inside information before it's made known to the public. But he'll only go so far, because he does have to honor the privacy of the retailers looking at his property. Still, in giving me info. he has probably gone a little further than Simon would typically allow him. I suppose he trusts me, since he's gotten to know me some in discussion.

Here's just some examples. Simon wouldn't want him to release any details yet on the leasing of the SE pad site (where Wards automotive used to be), since a lease hasn't yet been signed. But, he has told me for months now that they've been talking with Carabba's Italian Restaurant. He also told me yesterday that they're reconsidering signing a lease with Carabba's since there are two other Italian restaurants in the area. He has asked continually for my suggestions. This time I suggested Bon Vie, since we've been discussing it here.

Another good example.....he's told me that Children's Place has looked at the mall (specifically the location next to Hot Topic that's used temporarily by All Wireless and seasonal stores) several times. Seems like a good location since it's right next ot the toy store. He told me he's offered every imaginable incentive to get them there, and they haven't acted on it. He's not sure why.

Finally, he told me last summer that White House/Black Market was very interested in Penn Square and had visited with him several times. But a lease wasn't signed until Fall of 2004. I've mentioned it several times on this site, but hadn't received conformation of a firm construction date yet until this point.

Now, onto the other new retailers he suggests they are looking at. Well, I haven't been able to pry that information out of him yet. With some retailers he's more willing to talk, but others he's a little more tight on. As a whole, I'd say the Penn Square leasing staff is pretty tight on what details they offer to the public.

Often times, Penn Square takes more time than other malls seeking out tenants, so even though he said some exciting new stores will be coming in Spring, don't necessarily bet on it. They take their time.

For example, I figured they'd have the SE pad site filled with a restaurant by now, but they're taking their time to make sure they get the right restaurant for the property.

You'll find that many stores that open at Woodland Hills also open at Penn Square and vice versa, with a few exceptions. Both mall managers kind of work closely together...their markets are similar.

[Patrick]

Do you guys know anything about Apple Stores? How large are they? Penn Square doesn't have a lot of large areas to lease right now. They have the space where Pac Sun is currently located. The space where the Zoo Store/Kabets was located. The space where Successories used to be. And the space that they're currently using for All Wireless and seasonal stores (over the holiday season a claendar store was there).......this space used to be Modern Woman, a women's clothing store.

OU/OSU "A Store divided" has been on short term leases for some time now, in 3 different locations in the mall...where Mimi Maternity is now, where Rockport is now, and in their current location where White House/Black Market will be going. They're a pretty nice store and have been pretty succesful at the mall. I'd like to seem them take up one of the areas on a long term lease. I suppose when White House/Black Market starts on their space, A Store Divided will have to move again.

[Luke]

Do you guys know anything about Apple Stores? How large are they? Penn Square doesn't have a lot of large areas to lease right now.

Apple Stores are VERY cool looking stores. I've been to the super store in LA and the one in Plano, Texas (or Frisco...). Here is Apple's retail store web site: http://www.apple.com/retail

Anyways, this other site (http://www.ifoapplestore.com/stores/chronology.html) has rumors on upcoming Apple Stores and this is what it says about OKC:

"Penn Square - Oklahoma City (Okla.) - A 1.1 million square-foot "super regional" indoor mall operated by Simon near I-44 north of downtown. First revealed by tipster Oct. 4, 2004, with an unknown grand opening date, but reportedly under construction. However, in Dec. 2004 no work is visible at any mall space."

So, I guess the rumor was wrong.

[Patrick]

You never know......Penn Square sometimes works on leases for years and finally completes them, so this one could still be in the works. I'll mention it to Bob and see if he can share any information with me.

This may very well be what Bob was referring to when he said good things are coming to Penn in the upcoming year.