FEMA leases at Belle Isle

[metro]

When going through recently retail leases, I noticed FEMA/US Govt. leased 34,000 sq. ft in Belle Isle Shopping Center. I wonder if this was the old Bed & Bath location. Anyone know more and why?

[Patrick]

That's interesting. That would be about the size of the old Linen's n' things space. Not sure why they'd lease that out as non-retail, as it's prime retail space.

[Soonerman]

I wonder why Fema would be leasing space in a shopping center? I was hoping Macy's might lease the old Linens N Things space and put a furniture gallery in there.

[MikeOKC]

That's very unusual - almost disturbing. I don't like this. Patrick said it right, the big question is - why?

[Soonerman]

Metro where did you find this?

[Pete]

Could this be a short-term lease of otherwise vacant space to deal with claims from the recent storms?

[Soonerman]

Hmmm Didn't think about that Pete. Thats probably what it is.

[MikeOKC]

Could this be a short-term lease of otherwise vacant space to deal with claims from the recent storms?

I actually thought about that when I called FEMA. I left a voicemail and asked if that was what it's for. I haven't heard back yet.

[usmbubba]

FWIW both FEMA and the Red Cross have used the old Wal Mart in MWC on short term leases in the past

[Snowman]

FWIW both FEMA and the Red Cross have used the old Wal Mart in MWC on short term leases in the past

They had been using Shepard mall recently as well. One of the issues with short term leases is you rarely can get the same place, but since they often are opening up to get close to whatever disaster just happened has it's advantages.

[Steve]

This was a five-month lease signed last year for the former Linen's and Things space in which FEMA needed space to deal with the aftermath of the ice storm. This lease ended in November and the space is empty again. This is a listing from spring of 2010.

[easternobserver]

it is called a TRO - temporary recovery office. it will be active until the paperwork from the most recent declared disaster is completed. probably no more than a few months.

[Patrick]

Old news. Hey did anyone happen to notice the Penn Square Mall now has a JC Penney?

[metro]

Patrick, you and Steve can take your beef up with OKC Business leasing records. Were they off on the flea market deal too, I haven't seen anyone report that.

[Steve]

The Oklahoman reported it a few months ago. I've got no beef with OKC Business at all. I just read their latest issue, and to be fair to OKC Business, I think these listings are old news to them as well (not in the January issue). I think at the moment The Oklahoman, the Journal Record and OKC Business are all doing a good job keeping the community informed about area business and I notice the majority of legitimate business news posted on OKC Talk is based, whether it's disclosed or not by posters, on one of these three sources.

[Steve]

I take that back: there is a year-end report in the last OKC Biz on 2010 major real estate transactions and it includes the FEMA lease, the Kingman building sale, and Salvation Army.