Macy's at Quail Springs Mall is going out of buisiness.

[Patrick]

A lot of it has to do with money. In high end malls, retailers put up bids for spaces (Note, this is unlike at Quail where the mall has to offer incentives to get stores to locate there). It's kind of like how in grocery stores manufacturers put up money for certain shelf space. Windsor put up a pretty large bid to locate there in that exact space. As another example, Pottery Barn Kids was doing fairly well but as their lease was expiring, Forever 21 put a bid in for that 2 story space that was far above and beyond what Pottery Barn Kids was putting up, so Forever 21 got the space. Plus, the deal was made even more sweet by the fact that Forever 21 wanted more space....they also wanted the 2nd level storage room where Aspen Athletic Club used to be, making it a junior anchor, with an outside entrance. So it was a sweeter deal, so mall management went with it. Same can be said about them forcing out J's Hallmark, instead going with Kids Footlocker, which put up more money for the space.

Even though you may not like Payless, money speaks, and if they're putting up more money for a certain space in the mall, mall management is going to go for it, as long as it fits in with their diverse portfolio of tenants.

One reason national retailers are on the waiting list is because they want a particular space that mall management can't accommodate at the moment. They'd rather wait it out and get the right space. Retailers are pretty particular over which exact spaces they want. Center court and the high end west Dillards wing are pretty sought for. Retailers would rather locate in those areas than resort to another space in the mall.

Also, I doubt Penn Square will expand. They're at 100% occupancy, and that drives competition for spaces which increases amounts they can get off leases. Also, mall management told me that the current structure won't support a 3rd story. Plus, 3rd floors on malls typically don't do well, from what I've been told.

[traxx]

I wonder if Simon is just sitting and waiting for GGP to run Quail completely into the ground, then just swoop in and purchase it for pennies and make it Penn Square II.

Only if their subtitle can be Electric Bugaloo.

[Brett]

Did a quick stroll through QSM on Saturday night and noticed signs in Macy's windows stating "Final Two Weeks".

[Soonerman]

I believe that this is the last day.

[DowntownMan]

I believe that this is the last day.

They are closed and the signs are down

[RedSoxFan]

It is still baffling to me that in a metro of 1M+ people, there is one Macy's store.

[bchris02]

It is still baffling to me that in a metro of 1M+ people, there is one Macy's store.

There has only been one real Macy's store well before the QSM location closed. The Quail location was never updated since it was Foley's and had different merchendise than the Penn location does.

[traxx]

Yeah, the one at Quail was a Macy's in name only. In reality, it was still pretty much a Foley's.

[pure]

I may have missed it in this thread somewhere, but does Macy's own the building? If so, it would be very nice if they put in a Bloomingdales! Wishful thinking, I know.

[SomeGuy]

Yeah Macy's owns their building iirc . Bloomingdale's is also owned by Macy's and they've closed stores over the past few years as well.

[progressiveboy]

I feel that GGC will either find another anchor such as Belk which fits the demographics for the OKC market, or they may divide the space up and lure new retailers. If this becomes the case, it will have to market to destination retailers and restaurants that would be new to the marketplace. Currently, the market mix in QSM is pretty lackluster.

[pure]

If anyone is interested, http://www.grantgroupok.com/comm_add...perty_ID=18599

They're asking 5.4 million for the former Macy's space