Crossroads Mall

[Jesseda]

they could convert the old macys store and the old dillars store to more smaller shops to make the inside of the mall look bigger and olny leave th mall with two large anchor stores the one on the west (old jcpennies) and the east steve and barrys.. its a thought, i bet you can get about 20 smaller shops in the mall that way..

[Soonerman]

Spin spin spin.

"There are many successful malls that do not have a single anchor. We have over 100 quality stores."

The same denial we have been hearing for four years.

100 stores maybe I don't know if you would call them quality stores. But thats thier management for you.

[oneforone]

If Steve & Barry's leave the mall. What are they going to do? Raise rent rates on the mom and pop stores. I will be really suprised if the mall is still open for business this time next year.

[Chicken In The Rough]

IMO, the closure of S&B's puts Crossroads in a situation similar to that of Shepard Mall back in the 70s/80s - a slow, painful, humiliating, public funeral.

In this economic environment, their best bet is probably to close and donate the whole thing to OKC Communtiy College. I doubt they can secure financing for a major renovation, and I don't think investors will be interested in buying this property right now. Whatever is done, it must be done by someone with ready cash in hand. If Crossroads is sold, they'll be lucky to get half its value.

Donating it to a college (or even OKC Public Schools) could help us create another tremendous asset to our educational facilities, and it would create a steady stream of traffic to the area. It could be a self-contained campus. Perhaps some of it could be converted to dorms, and some to business incubator space.

I also don't think this property is right for a T.O.D. It is in a perfect physical location, but the demographics of the area are not right, there is too much heavy (and unsightly) industrial development nearby, and the city dump is practically next door.

[oneforone]

IMO, the closure of S&B's puts Crossroads in a situation similar to that of Shepard Mall back in the 70s/80s - a slow, painful, humiliating, public funeral.

In this economic environment, their best bet is probably to close and donate the whole thing to OKC Communtiy College. I doubt they can secure financing for a major renovation, and I don't think investors will be interested in buying this property right now. Whatever is done, it must be done by someone with ready cash in hand. If Crossroads is sold, they'll be lucky to get half its value.

Donating it to a college (or even OKC Public Schools) could help us create another tremendous asset to our educational facilities, and it would create a steady stream of traffic to the area. It could be a self-contained campus. Perhaps some of it could be converted to dorms, and some to business incubator space.

I also don't think this property is right for a T.O.D. It is in a perfect physical location, but the demographics of the area are not right, there is too much heavy (and unsightly) industrial development nearby, and the city dump is practically next door.

I agree the best use of that area would be a community college. I also think a hospital would perfect for that location.

Crossroads will most likey see the wrecking ball before it sees redevelpoment.

[JWil]

At least this means the I-240/I-35 interchange project could get more of that SW corner and make more room for the flyovers and the like.

[jbrown84]

Not really. Just because Crossroads might close, doesn't mean the Texas Roadhouse and Residence Inn have any intention of going anywhere.

[oneforone]

I cannot see any of the perimiter businesses leave Crossroads.

Then again if the owner of Crossroads drags thier feet and let it die a slow painful death they just might.

I know if owned the place I would:

1. Renovate
2.Stop the signing of permanent leases and shut down and rebuild a new development after allowing the existing tenants ample time to find new space.
3. Sell it to a non-profit healthcare provider at a discounted rate for a tax right off.

[jbrown84]

You could significantly redevelop the site without touching Residence Inn, AMC, Texas Roadhouse, Best Buy, etc. None are really relying on Crossroads to drive business, especially the hotel.

[Bunty]

I grew up in Sulphur too but before your time as Crossroads was non existent. As a child we shopped downtown OKC ala John A Brown's, Kerr's, and what was the name of that nice jewelry store? and ate at Anna Maude's.

BC Clark. How could you forget?

[Soonerman]

Well it's official now. Steve & Barrys is going out of business

Steve & Barry?s to close all stores - New Philadelphia, OH - The Times-Reporter

Steve & Barry’s to close all stores
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By Lee Morrison
The Times-Reporter
Posted Nov 20, 2008 @ 09:45 PM

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Steve & Barry’s has filed for bankruptcy protection and the clothing chain will go out of business, according to media reports on a court filing released Thursday.

The move will affect about 25 people who work in the store in New Towne Mall at New Philadelphia.

The Port Washington, N.Y.-based chain, which has more than 5,000 employees, will liquidate its stores by early 2009, according to a report by Newsday at New York.

“Steve & Barry’s has been a strong and valued performer in our market since opening in June 2007, despite any difficulties they have experienced on a national scale,” said Greg Fleser, general manager of New Towne Mall. “We have not received any official notification today from Steve & Barry’s regarding their status.

“Bearing in mind that the retail industry is always evolving, malls view every vacancy or potential vacancy as an opportunity to fulfill our customers’ requests by adding to our strong mix of tenants.”

Affiliates of the company’s new owners, who bought the ailing clothing retailer out of bankruptcy in August, filed for Chapter 11 bankruptcy protection at Manhattan on Wednesday.

Disappointing sales, amid the retail slump and greater economic slowdown, have made it difficult for the owners to get financing to continue operations, according to the filing as reported by Newsday.

“The appropriate course of action to maximize value for the benefit of all their stakeholders is an orderly liquidation,” the filing said. The liquidation is scheduled to be completed by the end of the year or early next year.

With the holiday shopping season around the corner, the company is requesting to begin store closing sales immediately, the documents state.

Steve & Barry’s started in 1985, selling college-licensed apparel. It also sells celebrity-endorsed clothing lines.

[ssandedoc]

Steve & Barry's is the final nail in the coffin. I don't know of any mall with three anchor stores closed let alone four.

[Thunder]

Montomgery Ward
JC Penney
Foley's
Macy's
Dillard's
Steve & Barry's

Any others to add to the list? I believe that is more than 4. Surprise! Crossroads is still alive and kickin! I think we'll have a new anchor or two next year.

[grantgeneral78]

does anyone know if steve & barrys is still open here?

[Soonerman]

As of right now yes it is.

[lasomeday]

There are many great ideas being past around for redoing Crossroads. It is in a great location and will be an ideal spot for it.....

[metro]

Anyone want to start guessing the closing date for Crossroads?

[SeinfeldBlock]

I just want to point out that you know the mall is going down if there is a "No Credit Check Auto" place in there.

[jbrown84]

Any others to add to the list? I believe that is more than 4. Surprise! Crossroads is still alive and kickin! I think we'll have a new anchor or two next year.

If they had anchor tenants interested, don't you think they would have filled the empty spaces a long time ago? It's not happening.

[Thunder]

Crossroads can attract them. First year free. At the end of the term, pay 5% of total sales or profits for that entire time.

[jbrown84]

Not. Going. To. Happen.

[zrfdude]

I just want to point out that you know the mall is going down if there is a "No Credit Check Auto" place in there.

There are other locations for that place, right? I don't think I can live without that guy that is in their commercials.

I almost died when Four-Day Furniture got ran out of business by the "Monopoly Brothers..."

"You got-ta got-ta"

[oneforone]

Anyone want to start guessing the closing date for Crossroads?

I expect one of the following things happen after the holiday season.

1. A major announcement that will redevelop the mall into something new.

2. A closing date announced that will allow enough time for existing retailers to move/close up.

3. A mass exodus of the national tenants still left in the mall. (IE: Victoria Secrets,American Eagle,Bath and Body Works)

If I were a property manager/owner for these new retail locations at 240 Penn Park, Town Center in MWC, The Shops at Moore and the other new developments. I would be heavily recruiting the remaining national tenants at Crossroads.

[jbrown84]

Yeah. Many of those national tenants are unlikely to go to any of those outdoor shopping centers, though.

It would take a more upscale lifestyle center. You just don't see PacSun or Victoria's Secret going in next to Cato and Payless Shoes in a basic strip mall.

[Chicken In The Rough]

The loss of the large department stores in South OKC has left a void. This seems to be a significant opportunity for new retail development in South OKC. Where might a new Macy's or Dillards be built? The new Penny's at 19th & I-35 serves its area well, but it is not well located for SW OKC.

Do you think we may see an announcement for something farther to the west? Perhaps a town center-style development near the the intersection of I-44 & SW 134th? SW OKC is growing and its demographics should be attractive. It will also draw from the rapidly growing Newcastle, Blanchard, Tuttle area. And someday, the Kilpatrick will make its way down there as well.

If Crossroads closes, it may open the door for two retail hubs in the South OKC area - one at 19th & I-35 (Moore), and the other somewhere in South I-44.