Crossroads Mall

[CowboyConservative]

Macerich Co. has refinanced $61.2 million of debt on Crossroads Mall with a 10-year, fixed-rate loan, said Mark McGovern of CB Richard Ellis-Melody Capital Markets in San Diego, who arranged the financing through Bear Stearns. Crossroads Mall, built in 1974, has 1.1 million square feet of rentable space with tenants including American Eagle Outfitters, Victoria's Secret and anchors J.C. Penney Co. Inc., Foley's and Dillard's.

Maybe they have something planned for Crossroads if they are refinancing debt. Such as renovating or better yet tearing down and rebuilding.

They demolished the Boulder, Colorado Crossroads Mall and they are building this.

http://www.twentyninth.com/about/index.jsp

The 240/I-35 interchange reconstruction is not to far down the road. From what I understand construction is expected to begin in 2007.

[ETL]

Crossroads problem is The Valley. Unless OKC can do something to fix this city, them this area is doomed. Why can the city put gates to check who goes in and out. Maybe those people will leave the city and it will just go away. Death Valley to Crossroads

[mranderson]

Crossroads problem is The Valley. Unless OKC can do something to fix this city, them this area is doomed. Why can the city put gates to check who goes in and out. Maybe those people will leave the city and it will just go away. Death Valley to Crossroads

Valley Brook was there LONG before Crossroads. The problem is gang bangers. The mall is fuill of them.

[ETL]

The city is nothing but a nuisance. Why do people live there?

[BricktownGuy]

Sorry, please tell us out of towners, what exactly is Valley Brook?

[soonerliberal]

Valley Brook is a small quarter-mile by quarter-mile town completely surrounded by Oklahoma City. It is basically at the corner of SE 59th and Eastern.

Here's a map.

Valley Brook is known for its line of strip clubs along with lower-class housing and borders Crossroads Mall. It is literally from the wrong side of the tracks.

[BricktownGuy]

SL, thanks.

[Patrick]

I wouldn't be surprised if Macerich is setting itself in a better position to sell the mall. I believe they already have the mall for sale, if I'm not mistaken.

[BricktownGuy]

Someone is real estate, could you please tell me how one can find out if certain properties are for sale?

For example, if Crossroads was for sale, how would someone know about it?

[Amelapa]

If Heritage Park can persist in what appears to be an ongoing vegetative state, with only one anchor tenant, a Chik-fil-A, and a handful of no-names, then surely Crossroads can endure.

-SoonerDave

I wouldn't call Bath & Body Works, Cingular Wireless, Claire's Boutique, Economy Hearing Aid Center, El Chico, Eyecare Discount Optical, EyeMasters, Famous Footwear, Finish Line, FootLocker, GameStop, General Nutrition Center, Gordon's Jewelers, J's Hallmark, Mastercuts, Pelican's Wharf, Rainbow Apparel, T-Mobile, US Cellular, Waldenbooks, Whataburger and Zales no name stores.

I guess people would rather deal with parking a mile away and deal with tons of people and go to Penn Square to shop a lot of the same stores. I like the low to medium traffic at Heritage. I despise crowds. It's just my speed.

[SoonerDave]

I wouldn't call Bath & Body Works, Cingular Wireless, Claire's Boutique, Economy Hearing Aid Center, El Chico, Eyecare Discount Optical, EyeMasters, Famous Footwear, Finish Line, FootLocker, GameStop, General Nutrition Center, Gordon's Jewelers, J's Hallmark, Mastercuts, Pelican's Wharf, Rainbow Apparel, T-Mobile, US Cellular, Waldenbooks, Whataburger and Zales no name stores.

Well, I would. Subtract from your list all the outparcels and cellphone shops you mentioned, eg Whataburger (yeah, people are really flocking to a mall for a Whataburger), and Pelican's Wharf, and the fact that you can buy a mobile phone from just about any street corner these days, and (with the exception of one or two) you have a list of absolute nobodies.

I already know that the Chick-Fil-A store will be closing as soon as the new store on 29th opens in the middle of next year.

The point is that malls must have anchor tenants to survive, and there's not one reliable, core, anchor tenant in that mall other than Sears. Have you looked in that forsaken "A to Z" consignment store? I walked in there one time and thought I needed a shower. It's embarassing - worse than a flea market. No one who cares about that property would ever lease space to that abomination. As for the rest of the stores you list, I fully expect that most if not all of those stores are there only because their lease agreements just haven't expired yet.

Crossroads still has four anchor tenants (and I'll grant you that Penny's is almost certainly leaving for Moore next year, so call it three), and the location at the I-240/I-35 junction gives it the kind of traffic that can make a rehabilitation discussion plausible. Heritage has no such hope. With the huge new construction going in on 29th, including a Best Buy (and, rumor has it, another Penny's), Heritage just has nothing going for it.

I'm certainly not suggesting Crossroads is a panacea; it has its own share of problems, but it has at least as good a chance of enduring as long as Heritage with more traffic, more anchor tenants, and at least a faint hope for perimeter revival. Not saying it's easy, but it's possible. Getting Sears into the presumptively vacated Penny's spot would be a big first step, but don't know if that's going to happen..

-SoonerDave

[mranderson]

Ghetto neighborhoods, gang bangers, high crime... You do the math.

[jbrown84]

Eyecare Discount Optical, Pelican's Wharf, Rainbow Apparel

Never heard of any of these.

[BailJumper]

Heritage's problem is location, location, location. I have gone in to Heritage a few times to eat at El Chico's or pick up something from the Radio Shack (I think it's gone now). I've even shopped the A to Z market. SD must have higher standards than me - that or he hasn't visited our local flea markets lately. A to Z is fine for what it is. It's clean and fairly organized. If you're looking for some cheap tools that you don't need to use too often then that's your place. In my opinion, Heritage should consider going the way of Shepard Mall. But even then, location is not in their favor.

As for Crossroads, I go there often as it is close to me. I've never felt "unsafe" there. I think that opinion is based more on herd mentality and a few overblown newscasts.

Crossroads problem is bad recruiting, bad management, and some traffic woes with all the ongoing I-35 construction.

I was surprised at the number of vacancies on my last visit (a few weeks ago). They really need a one-of-a-kind out of state store to come in there to be a draw.

[writerranger]

First, let it be known that I know nothing about this industry. To those that do, what are the chances that Simon could pick up Crossroads? I've always been impressed with Simon Malls, whether it be Penn Square here in OKC, the outdoors Arboretum in Austin, Northgate in Seattle or The (incredible) Galleria in Houston. I have noticed that in some markets, they will have two and sometimes three properties. Is there a chance that the Simon Property Group could pickup and reinvent Crossroads? Pipe dream?

-------------------------

[jbrown84]

They sold off the Shawnee Mall a couple of years ago, as well as Sooner Mall I believe. Looks like they're focusing on Penn Square, and I prefer that.

[mranderson]

Heritage's problem is location, location, location. I have gone in to Heritage a few times to eat at El Chico's or pick up something from the Radio Shack (I think it's gone now). I've even shopped the A to Z market. SD must have higher standards than me - that or he hasn't visited our local flea markets lately. A to Z is fine for what it is. It's clean and fairly organized. If you're looking for some cheap tools that you don't need to use too often then that's your place. In my opinion, Heritage should consider going the way of Shepard Mall. But even then, location is not in their favor.

As for Crossroads, I go there often as it is close to me. I've never felt "unsafe" there. I think that opinion is based more on herd mentality and a few overblown newscasts.

Crossroads problem is bad recruiting, bad management, and some traffic woes with all the ongoing I-35 construction.

I was surprised at the number of vacancies on my last visit (a few weeks ago). They really need a one-of-a-kind out of state store to come in there to be a draw.

What is "SD?"

[SoonerDave]

As for Crossroads, I go there often as it is close to me. I've never felt "unsafe" there. I think that opinion is based more on herd mentality and a few overblown newscasts.

Agree completely.

I won't pretend that the area is pristine and perfect, but it is hardly as bad as the media suggests. My family, which is not what I would consider low-income, lowest-common-denominator gutter trash (which some have implied is all Crossroads attracts), goes to Crossroads reasonably often. Heck, I've been going to Crossroads since it opened 30 years ago and I've never felt remotely unsafe there. That includes times when I worked there late, and been there as it closed.


mranderson, in all honesty, I probably overstated the A to Z situation some, but not by much, It's just a smelly, junky little store that I can't fathom is something designed to attract more people into the mall. I think it's sad how Heritage has deteriorated; I work in the MWC area (have for the last 20 years or so) used to go there to the Sbarro's for lunch; there was a nice coffee shop there before coffee shops became trendy. It had its moments.

-soonerdew

[Flatlander]

Off topic but what part of 29th has the best buy and chick-fillet development.

[SoonerDave]

Flatlander,

There's an entirely new shopping district being built just east of Air Depot on 29th. A Lowe's and new Target have already opened, several new shops are being opened including a Steak n Shake, and in the open parcel between the Target and the Lowe's is where the BestBuy and/or Penny's is supposed to be going. Chik-fil-A is supposed to be built on an outparcel in that area; specifically where I do not know (the Chik-fil-A person that told me all this wasn't sure).

This person also told me that there was no question that the Heritage Park Chik-Fil-A would close upon or shortly after opening of the new standalone location, and that Chik-Fil-A is building six such stores in the metro. One is getting ready to open on NW Expressway in OKC, and with this one pending on 29th, that leaves four in the metro slated for construction....I really like Chik-Fil-A, and will be hoping one of those goes in near my house!!

-SoonerDave

[Flatlander]

Thanks SoonerDave,I do not get out that way very often,guess its time to drive around town and see all the progress.I too like chik-fil-a,thanks for the detailed information.Just read in the Daily Oklahoman that the NW Expressway location will open Thursday (30th) at 6:30 in the morning.About crossroads I do not shop in that area ever,so Im not familar with the mall,just what I hear on the forum here.When I drive by I dont see that much traffic,so yes I think crossroads is dying away.Also havent heard anything about the pole road exit.Crossroads said they need an exit at pole rd ODOT Shows no exit at pole rd.

[chrisok]

Flatlander,

One is getting ready to open on NW Expressway in OKC, and with this one pending on 29th, that leaves four in the metro slated for construction....I really like Chik-Fil-A, and will be hoping one of those goes in near my house!!

-SoonerDave

Another one is going in Moore as an outparcel at the new shopping center.

[BG918]

Is Crossroads dying in its present state? Yes. Can anything be done to save it? Yes, and I think the saviour is the red line I drew on this aerial photo of Crossroads: the future commuter rail right-of-way between Edmond, downtown OKC, and Norman. Crossroads could become the station for south OKC and the mall redeveloped into a large TOD (transit-oriented development) with the mall being the retail/restaurant portion and then housing and parking around it and the train station. Something like that would require some major private investment (for the TOD) and public investment (for the rail) but it would really improve the whole area of south OKC. That rail line, and the areas it goes through and stops, will prove to be very valuable someday soon when OKC finally gets serious about commuter rail.

[Martin]

^
wow... and practically walking distance to a potential TORD (transit-oriented redlight district)

-M

[mranderson]

^
wow... and practically walking distance to a potential TORD (transit-oriented redlight district)

-M

You may be on to something. Close the mall and turn it into the worlds largest legal brothal with the anchor stores being adult video stores and strip clubs. "yeah, that's the ticket." (quote from John Lovitz)