New businesses entering metro

[mranderson]

Regardless of size and type of business, what businesses would you like to see enter the Oklahoma City market? Or what businesses do you know that have or will soon enter the market?

Me: 1. Steak n' Shake (announced first location recently), 2. Jersey Mike's (opening on or about October 1), Cartridge World (second location just opened I-240 and Santa Fe), new location Express Auto Sales.

What would I like to see? A doggie daycare center, a second Comp-USA on the city's south side, Dairy Queen's comeback.

I know there are others I will add as I think of them.

[floater]

Dave and Busters
Crate and Barrel
Smith and Wollensky
Barnes and Noble (downtown or south side)
Room and Board
Lord & Taylor
H & M

and a second on Dairy Queens

I'm sure others will come to mind...

[Patrick]

A third on Dairy Queen! I always look forward to my trips to Tulsa because I always hit the DQ at Woodland Hills Mall for a Blizzard.

I'd like to see: The Cheesecake Factory, a Marie Callenders on the north side, a Rainforest Cafe, Macy's Nordstroms or Niemann Marcus, Corning reconsider OKC and build on the old site, a new computer company relocate to the old Lucent site.

[BG918]

I think a Barnes & Noble or Borders and a Cheesecake Factory would make great "chain" additions to Bricktown. Of course then you would need to counter that with a couple of local retail stores or an Oklahoma-based chain, like Camille's Sidewalk Cafe. Camille's would be PERFECT right on the canal with outdoor seating, there is currently no cafe/coffee shop on the canal for lunchtime patrons.

[Patrick]

We need a deli in Bricktown as well. Maker's used to have one but I believe they closed it. Could you imagine having a deli similar to the Hello Deli in New York that they always show on Letterman? That would be pretty cool! I think a Borders might be better than Barnes and Noble, because they're smaller. It would be cool though if we could get Tolbert to open up a second Full Circle Bookstore, locating it in Bricktown.
Camille's sounds like a perfect fit for Bricktown! I guss that would fill the deli void. Cheesecake Factories are located mostly in malls, but Hogan could still give it a shot.

[Nuclear_2525]

Well those of you who want to see high-end shopping come to OKC like Neiman Marcus and Nordstrom's, it might be on the way. A large Texas developer bought One Penn Place(I think that is what its called) and said it was the most prestigious piece of property he bought out of the 10 or so others in the deal. I forget what all the story said, but who knows.

[mranderson]

The buidling to which you refer is Fifty PennPlace. It is a 16 story high rise which use to house, not only the mall and the Clear Channel stations serving the Oklahoma City market and ONN, but also the Oklahoma City division of the FBI. When the Murrah building was bombed, Fifty PennPlace was possibly the safest building in Oklahoma City.

I welcome Nordstroms but not Neiman-Marcus. We have too many Texas based businesses doing business here now. Nordstroms, if I am not mistaken is based in Seattle.

[mranderson]

I need to clarify one thing. Clear Channel and ONN still occupy the building. The FBI moved to their new building on Memorial about two or three years ago.

[Patrick]

You know, if expanded properly, 50 Penn Place could make a really nice upscale mall! It already has the office tower providing and influx of customers, all it needs are anchors to keep smaller tenants there. Right now, it's more like North Park Mall, in that it has mostly smaller local upscale shops, with the exception of Harolds and Talbots. I always thought they should add two anchors, one on each end of the mall. Then maybe expand a new wing of the mall southward to end in another upscale department store. Unfortunately, the land isn't there to go southward. Previous owners tried to buy homes to the south, but weren't very successful. Maybe new owners could launch a better attempt to purchase homes in the neighborhood to the south.

Unfortunately, from what I've heard though, the new owners are focusing more on office space though, and as a result, they've leased much of the third floor of the the mall out to office type tenants. That's been unfortunate.

One thing that's worknig against 50 Penn now, is the fact that Simon has turned Penn Square across the street into an upscale center. Although Penn Square has always had some upscale shops, it didn't used to be as upscale as it is now. They're stealing stores from 50 Penn Place left and right (so far they've stolen Williams-Sonoma, Ann Taylor, Mimi's Maternity, Mr. Ooley's, etc....all are doing much better at Penn Square) and mall officials are adding new stores like White House/Black Market and Jos. A. Bank.

If 50 Penn Place is going to compete with Penn Square they're going to have to differentiate, expand, and possibly go even more upscale, with upscale department stores....something Penn Square doesn't have.

Like I said though, it doesn't appear the new owners of 50 Penn Place are focusing on retail.

[floater]

50 Penn Place is an abject lesson that renovations alone will not bring in traffic. They did a terrific interior redesign with some nice public areas, followed by the expansion/relocation of Full Circle. But it wasn't enough. When stores leave your location and enjoy double-digit (and better) increases in sales at a neighboring location, you've got a perception problem.

I don't think there was a negative impression of 50 Penn Place, I just don't think they offered the range of recognizable names that splash onto people's minds. Penn Square offers a wider array of choices in an attractive setting.

With the increase in office space in the mall area, I'm afraid that people will see the tower as more of an office building.

I wonder though: what Penn Square lacks is a wide choice of full-service restaurants. What if 50 Penn filled its remaining two floors with 4-5 upscale restaurants plus a cafeteria? Plus one mini-screening auditorium/theater showing independent/classic films? It could double as a 100-seat presentation center (with full a/v capabilities) during the daytime hours for building tenants (at no cost) or outside groups (for rental). Along with Full Circle, they might be able to carve out a successful niche.

[Patrick]

I like your thinking, floater. For the mall area of 50 Penn to become vibrant again, the owners are going to have to develop a concept that fills a new niche. Currently there are only about 15 to 20 stores and services in the mall. There used to be about 40. Losing national retailers has sure hurt 50 Penn. Anytime you lose stores like Ann Taylor and Williams-Sonoma, it's going to hurt. I have a friend that works at Pendelton at 50 Penn and she said if Harolds or Tablots ever moves out, Pendelton will probably have to follow suit. So hopefully the owner can keep those main retailers there. Talbots had considered moving to Penn Square about the same time Ann Taylor did, but they decided to remain at 50 Penn.

I think two anchors would realy help 50 Penn Place, but the the mall area itself being so small, I doubt two upscale national department stores would actually consider 50 Penn Place.

It's been sad seeing places like Metropolitan College, Morgan Stanley, and Bank of Oklahoma locating on the 3rd level of the 50 Penn Place mall.

I do agree with you though, floater.....the renovation 50 Penn did a few years back was impressive though. The fountain and new marble flooring, along with the soft seating areas are nice. It's definitely an upscale location.

[Luke]

I agree that Penn Square is filling in a high end niche that 50 Penn should have taken. Now, 50 Penn is going to have to go higher. Look to the Shops at Via Bellagio in the Bellagio Resort in Las Vegas for some ideas on who to lure to the halls of 50 Penn:

Giorgio Armani
The Intimate Collection
Fred Leighton
Chanel
Prada
Dior
Tiffany & Co.
Gucci
Yves Saint Laurent
Hermès

Among others...

[Patrick]

I think you're right on Luke! 50 Penn Place really missed their opportunity to be a high end retail shopping center in the metro area. It's still a nice center, but with the many stores that have moved across the street, it's not as nice as it once was. You're absolutely right though......for 50 Penn to survive, they're going to have to go even higher than Penn Square now, as Penn is taking over the upscale retail market in that area, as is evidenced by the signing of new stores like White House/Black Market (coming in Spring 2005), Jos A. Bank, and J. Jill, along with the other upscale stores they have already attracted over the past few years.

But, going even higher than Penn Square is going to be tough for 50 Penn Place, especially given the market we're dealing with. Unfortunately, in all market studies, the entire Oklahoma City metro area (including Edmond) just doesn't show that it can support stores like Nordstroms, Gucci, Tiffany and Co, etc. Simon Properties, owner of Penn Square, has already done the research on it, as they've tried to attract many of the names you've mentioned.

At the same time, it becomes even more difficult to expand the shops at 50 Penn when you have an already vibrant large mall across the street. This is also being seen by Northpark mall, an upscale mall on the city's far northwest side, which is competing with nearby Quail Springs Mall. Northpark seems to be doing a little better than 50 Penn Place though, probably because their competition (Quail) isn't as upscale as Penn Square is, so they don't have to try to move too far upscale to differentiate themselves. Also, Northpark seems to be filling their mall with something besides chain upscale stores....namely, they seem to be catering to local upscale businesses like the Lime Leopard, Kokopelli, Geno's Furs, Jeromes, Tres Chic, etc. Here's their website: http://www.northparkmallokc.com/

Anyways, regardless of what the market studies show, I still think 50 Penn can become a vibrant upscale shopping center like Luke mentions. For 50 Penn to do this though they need to start buying up property and putting an expansion plan together....maybe an upscale hotel, a few very upscale anchors, etc. This will help attract names like Tiffany and Co., Gucci, etc.

[mranderson]

THE WARDS LOCATION AT CROSSROADS HAS BEEN LEASED!

I was looking through Monster.com and saw a job opening for a manager at a store called Steve & Barry's University wear. I researched it and found they are locating a 150,000 square foot store in Crossroads. Their concept is locating in reginal malls as anchor tenents.

Could this be the beginning? Maybe. But I still expect Crossroads to not be updated and draw the usual gang banger crowd. I bet this new store's demographic market is gang banger types as well as yuppies. Maybe a few blue collars. Since the gang bangers wear a lot of that type, I suspect that is their primary target.

At least the space is leased.

[Patrick]

This is great news mranderson. The absence of the fourth anchor at Crossroads has really hurt the mall. Hopefully this will help bring some life back to Crossroads. I know it's not a major department store or anything, but at least it is a retail store and fill fill the anchor space. That end of the mall is dead right now with the absence of an anchor...hopefully that will change.

With the added revnue from this new anchor, hopefully Macerich Properties will do a complete mall renovation! I know, wishful thinking on my part, but it's worth a dream or two!!!

Why don't you go ahead and cut and paste your post here into a new thread with the label title? That way more people will be able to find it!!

Thanks mranderson.

[Patrick]

Oh, by the way, I checked their website, and this is actually something, for once, that Texas doesn't have! How about that. I looked at the pics on their website, and it looks like their stores vary in size from smaller stores to large anchor stores. The store itself looks kind of like an Old Navy inside. The clothing is about on the same line as Old Navy as well. It's a national retailer, but not too upscale, so I think it will fit into Crossroads wonderfully! With the situation the mall is currently in in regards to empty space available and stores closing left and right, this is actually better than I expected. Maybe Crossroads will make a turn for the better!

[mranderson]

I was looking at Steak n' Shake's website and found the Oklahoma City metro location has been formally announced.

It will be near 2nd and Bryant in Edmond. Other locations are sure to follow in the coming months.

This is a pretty good place to eat. Expensive, but good.

[Patrick]

Yeah, it will be over by the Wal-Mart Neighborhood Market....I saw the sign for it last time I was up there...I'm guessing they've probably started on it by now....I haven't been up to Edmond in a few months.