Midtown

[chssooner]

Walker is now kinda dead, north of 11th. With 1492 and Louie's gone, hopefully those get replaced sooner rather than later. But I don't doubt Midtown Renaissance. They have a proven track record.

[sethsrott]

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[Bits_Of_Real_Panther]

I've been parking in the SSM lots and walking to places. I've seen pay parking lots like at Brown's bakery.

Has anyone ever heard SSM towing cars on busy evenings/weekends?

I'm planning to use the SSM lot as a park and ride lot for catching the streetcar to head toward the paycom.

[DowntownMan]

I've been parking in the SSM lots and walking to places. I've seen pay parking lots like at Brown's bakery.

Has anyone ever heard SSM towing cars on busy evenings/weekends?

I'm planning to use the SSM lot as a park and ride lot for catching the streetcar to head toward the paycom.

I doubt it because the hospital gets so many visitors they would have a hard time tracking and knowing who might be a patient parked there or a visitor to hospital. They have a lot of parking spaces so they probably don’t care.

[Rover]

I doubt it because the hospital gets so many visitors they would have a hard time tracking and knowing who might be a patient parked there or a visitor to hospital. They have a lot of parking spaces so they probably don’t care.

I would think that parkers would value the access to parking for visitors to a hospital over saving a couple of dollars. Courtesy and compassion should trump $2

[Thunderbolt]

Ludivine is the next Midtown restaurant to announce its closing. It joins Brown's, Louie's, Cafe do Brazil, City Garden/Bleu Garten, Elk Valley and Sunset Patio (am I missing any?) as Midtown spots to shut down in recent months. Brutal!!

https://www.oklahoman.com/story/life...e/71768756007/

[Midtowner]

Yeah, there's definitely a theme there. With all of these restaurants closing all of the sudden, are the rents just too high for an operator to be able to make it on typical restaurant margins?

[BoulderSooner]

Yeah, there's definitely a theme there. With all of these restaurants closing all of the sudden, are the rents just too high for an operator to be able to make it on typical restaurant margins?

that was the case for Louies and 1492 ...

Cafe do Brazil the owner retired (she also owns the building)
Browns owned the building ..

and Ludivine's chief investor owns the building it was in .. they are still going to cater out of the kitchen and R&J is staying open in the back of the building ..

[Midtowner]

that was the case for Louies and 1492 ...

Cafe do Brazil the owner retired (she also owns the building)
Browns owned the building ..

and Ludivine's chief investor owns the building it was in .. they are still going to cater out of the kitchen and R&J is staying open in the back of the building ..

Well Browns is actively being built in as we speak.. or at least it appears changes have been made very recently. Cafe do Brazil was a great operation, but I can see how a business owner with the $/sq ft in the area being what it is would want to go ahead and take profit. I currently office in Midtown (hence the handle) and I assume my building where my family has officed for 30+ years will go up for sale in the next few months or years. I'll move before I'll pay ridiculous rents.. even if it means I have to drive 5 extra minutes to the courthouse.

I really have to wonder about these landlords and their business plans and how they make money on empty buildings with huge asks for rent.

Restaurants already run on pretty low margins, so large rent increases are going to kill a lot of their business models.

[onthestrip]

Theres been a lot of doom and gloom from people about these recent midtown closures but Cafe do Brazil, 1492, Ludivine, Louies, Browns all had been in business for many years. Sure you hate to see a business closing but they had done well relative to most restaurants. It was a good run for them.

Personally Im happy to see something new and fresh go into the 1492 and Louies spaces. It was time for something different.

[BoulderSooner]

I really have to wonder about these landlords and their business plans and how they make money on empty buildings with huge asks for rent.

Restaurants already run on pretty low margins, so large rent increases are going to kill a lot of their business models.

browns buildings sold to Midtown R ... after they decided to close ..

and i think your comment is very very fair ..

[Dob Hooligan]

I think there are just several Midtown R tenants who's leases are expiring. And Midtown R wants to set the rents at today's rates. These are aging concepts and the operators would have to remodel and reinvigorate on top of the higher rent. Might as well move on to a different location and concept. It's hard to raise prices 40-50% at a place that has a reputation at a certain price level.
Also, Phillips Murrah is coming in, along with other larger tenants, and it would be nice to have fresh faces operating in the area.

[PhiAlpha]

Theres been a lot of doom and gloom from people about these recent midtown closures but Cafe do Brazil, 1492, Ludivine, Louies, Browns all had been in business for many years. Sure you hate to see a business closing but they had done well relative to most restaurants. It was a good run for them.

Personally Im happy to see something new and fresh go into the 1492 and Louies spaces. It was time for something different.

Yeah but that's what I'm concerned about. Are there concepts lining up to go into those spaces? If not, I'd prefer the restaurants that had been there for 10-20 years over an empty retail corridor (I realize it's not completely empty but it's certainly not what it was even 3 years ago.)

[Dob Hooligan]

[/B]

Yeah but that's what I'm concerned about. Are there concepts lining up to go into those spaces? If not, I'd prefer the restaurants that had been there for 10-20 years over an empty retail corridors (I realize it's not completely empty but it's certainly not what it was even 3 years ago.)

I think Midtown Renaissance owns almost all the property on Walker in that stretch. And I'm convinced they have new stuff lined up for the spaces. I also think they worked with the operator of Sunset Patio in order to reset their clientele. I think their ultimate goal is to get it all lined up with the Phillips Murrah completion.

[BoulderSooner]

I think Midtown Renaissance owns almost all the property on Walker in that stretch. And I'm convinced they have new stuff lined up for the spaces. I also think they worked with the operator of Sunset Patio in order to reset their clientele. I think their ultimate goal is to get it all lined up with the Phillips Murrah completion.

if they had things lined up for 1492 and louies building they would already be under construction/renovation

[Dob Hooligan]

if they had things lined up for 1492 and louies building they would already be under construction/renovation

Yes, but I would suggest the Midtown Renaissance investment in the area is in the hundreds millions dollars. They might leave a building empty for a year, or so, in order to get the best tenant mix for the area.

[Pete]

Built-out restaurant space with a full kitchen has been going very fast all over town.

I suspect MidtownR will have not trouble leasing the spaces, they will just be selective.

[Thunderbolt]

I walked by Capitols ice cream on Saturday night at 7 pm and it was closed. Their Google hours now say "permanently closed". Another one bites the dust?

[Ginkasa]

Yeah, they're closed. Its been mentioned in a couple of spots. They were never my favorite at the best of times, but especially with the opening of Boomtown (which is GOAT IMO) there's been no reason to stop by here other than proximity if I was in the area.

[Pete]

Yeah, they're closed. Its been mentioned in a couple of spots. They were never my favorite at the best of times, but especially with the opening of Boomtown (which is GOAT IMO) there's been no reason to stop by here other than proximity if I was in the area.

I wonder if their Edmond location (in the Railyard) is still operating?

[BoulderSooner]

I wonder if their Edmond location (in the Railyard) is still operating?

no longer on the Railyard website .. and google shows as closed

[Pete]

I really have to wonder about these landlords and their business plans and how they make money on empty buildings with huge asks for rent.

Restaurants already run on pretty low margins, so large rent increases are going to kill a lot of their business models.

More and more of the successful local restaurant operators are taking a much stronger negotiation stance, as every landlord and developer wants them to anchor their development. Several are now seeking an equity position in the property, and often getting it.

[Thunderbolt]

Yeah, they're closed. Its been mentioned in a couple of spots. They were never my favorite at the best of times, but especially with the opening of Boomtown (which is GOAT IMO) there's been no reason to stop by here other than proximity if I was in the area.

Thanks. Missed it.

[Tyson]

no longer on the Railyard website .. and google shows as closed

Yes, Cities Ice Cream in Edmond closed very recently. They put up a now leasing sign last week. It was always dead in there starting a few months ago.

[PhiAlpha]

More and more of the successful local restaurant operators are taking a much stronger negotiation stance, as every landlord and developer wants them to anchor their development. Several are now seeking an equity position in the property, and often getting it.

Yeah I think the free market working itself out is the answer on rent, etc. It sucks to lose restaurants but if rent is really the reason, it will come down or the retail spaces will stay empty. It just won’t happen overnight.