OKC/Penn Sq. may have another opportunity to land an upscale retailer

[Patrick]

For those who say Penn Sq. has a waiting list of high end tenants. I no longer buy that when you see some of the cheesy local tenants they allow in the mall. I can't remember the names of some of the places, but nonetheless there is some cheese in Penn Sq. Thankfully it's getting better all the time.

You obviously don't understand the retail market when it comes to malls and leasing space. Penn Sq. has a VERY long waiting list of high end tenants The problem isn't tenants that are interested in the mall, but finding the right space, and timing. Most of the "cheesy local tenants" you refer to are on short term leases and are interim tenants, and that's the case with any mall. Take the "Honey's Handbags and More" store. That space is so small, and in such a weird area, that retailers on the waiting list simply aren't interested in the space. Most of the retailers have spaces in mind, and are simply waiting for those spaces to come available. As we saw with Windsor, that retailer had actually put money down on the old Walden Books space to claim that space away from Walden Books. For example, Forever 21 has wanted to put a store in the mall, especially a flagship XXI forever store, but the space simply isn't there current to accomodate them.

[Patrick]

By the way, the store will in fact be opening at Penn Square.

[Patrick]

Any chance Penn Square could do another new construction expansion?

Plans are in preliminary stages of development, as I've mentioned in other threads.

[metro]

Patrick, have you thought about quitting the medical and working for the mall?

[okcpulse]

With a waiting list as long as Penn Square, I am anxious to see the details when plans move to the development stages. Both the expansion of Penn Square Mall, the emergence of Classen Curve and The Triangle at the Curve, it would be fitting to restore the old Classen streetcar line at some point in the future. The Penn Square/Classen area is only 3.5-4 miles from downtown as the crow flies. If there is a substantial increase in high-income residents downtown, taking the Classen streetcar line instead of I-235 to I-44 would be less of a hassle. Just a thought.