Retail Update in OKC | V.2

[Plutonic Panda]

Things seem to be looking pretty good. With Glimcher, Chisholm Creek, and hopefully the Will Rodgers Eastside development.

Chisholm Creek - OKCTalk

Glimcher - OKCTalk

Nichols Hills Plaza - OKCTalk

Shoppes at Quail Springs - OKCTalk

[Plutonic Panda]

Will Oklahoma City ever get a Trader Joe's? | News OK

[AP]

I was going to mention that chat too, mainly because Pete and OKCTalk got a nice little shout out from Brianna.

[Pete]

Brianna does a good job.

We've had a good rapport since her days at the Journal Record.

[Plutonic Panda]

Oklahoma City's big stores see little change | News OK

Big box stores have seen little change lately — and that’s huge.

The market for leasable retail space in the Oklahoma area is best explained “not so much (by) what is vacant as what is occupied,” said broker Mark Inman of CBRE.

“If you look at the newer, larger power centers in our market, it’s encouraging how strongly these properties continue to perform. We simply don’t see any large vacancies in Class A space,” said Inman, who tracks big store spaces — 18,000 square feet and more — with Stuart Graham, also of CBRE.

Just two big stores went dark the last half of last year for a combined 77,671 square feet of newly vacated space, Inman and Graham reported.

One was Tom’s Formal Wear in Southern Hills Shopping Center on Interstate 240 near S Pennsylvania Avenue. The other was a Homeland supermarket northeast of Northwest Expressway and MacArthur Boulevard.

Also late last year, WinCo Foods, a supermarket chain based in Boise, Idaho, bought the closed Target store northwest of Midwest Boulevard and Reno Avenue in Midwest City, removing 111,000 square feet from the market. WinCo will knock down the old Target and build new, Graham and Inman said.

The transactions reduced the available big box retail space from 556,265 square feet at midyear to 522,936 square feet at year’s end, a drop of 6 percent, according to the CBRE report.

The report listed 13 big retail vacancies, not counting perennially struggling Heritage Park Mall in Midwest City or Plaza Mayor at the Crossroads, formerly Crossroads Mall.

Most of the vacancies are more than 30 years old, Inman and Stuart said. Newer spaces have remained occupied or been absorbed quickly when they hit the market, they said.

The relative lack of new space has newcomers building their own space or delaying moves into the market.

“There are several projects on the board that are the result of a lack of inventory,” Graham said.

On the other hand, he said, brokers and property owners are preparing for saturation in the grocery sector.

“I don’t know how many more square feet of grocery can be added before we see some fallout,” Graham said. “There are a few older stores in the market that will need to be repositioned or closed.”

[Plutonic Panda]

Indicators show Oklahoma City's retail economy lags behind suburbs, other cities | News OK

[Questor]

Doesn't surprise me. Most of the big new retail development, other than the Memorial corridor, has been outside city limits.

Revitalization isn't the right word, but I feel like more should be done in the NWXP and May area. Also, for as much as has changed from downtown to uptown, I'm still surprised none of that has included major retail so far. I am also still to this day surprised at how slowly the I-240 corridor has changed over the years. It seems like such an opportunity lost in so many ways. It is better than it has been in a long time though. The one little area near Penn that has been modernized seems extremely busy every time I drive by that part of town... Surprised it hasn't prompted a lot more.

[Plutonic Panda]

2015 was a busy year on Oklahoma City's retail scene | News OK

[ljbab728]

An update by the Oklahoman.

Attention, shoppers: Here's where the stores are hot, and where they're not, in Oklahoma City | NewsOK.com

[Plutonic Panda]

http://journalrecord.com/2016/06/10/...y-real-estate/

[Plutonic Panda]

http://newsok.com/more-stores-coming...rticle/5512696

[Plutonic Panda]

Lots of good developments since this thread started.

I came across this article detailing how some of the conversations to getting new to market retailers starts:

https://www.velocityokc.com/blog/dev...ack=super_blog