power centers

[rickyoklahoma]

What is needed in order for a place to be called a "power center?" Meaning, what is the definition of a "power center?"

Where exactly are these power centers located in Oklahoma City? Tulsa??

[soonerguru]

In Oklahoma, I believe the power center is the ninth floor of the OPUBCO building. Oh, and also the pulpits of large churches in the suburbs.

[rickyoklahoma]

sorry.

I meant as in retail power centers. One example, I been told that Westgate Marketplace in OKC is a power center. so.. will repost the original info I was looking for......

What is needed in order for a place to be called a "power center?" Meaning, what is the definition of a "power center?"

Where exactly are these power centers located in Oklahoma City? Tulsa??

[Pete]

In the commercial real estate business, a power center is one that is typically anchored by large "big box" retailers in a strip-mall type of configuration. In most cases, they have several big tennants instead of a bunch of smaller ones.

The development near Penn Square (don't know the name) would be a good example, as would be the one on May w/ Best Buy.

And I think there is another one on the SWC of Memorial & Penn.

[Patrick]

Basically from what I understand, a Power Center is a huge retail strip with over 500,000 of space...it might be 750,000 so don't quote me. But, anyways, a huge strip development. Good examples in OKC include Belle Isle Station near Penn Square, Quail Springs Market Place across Memorial from Quail Springs Mall, Westgate Marketplace at I-40 and MacArthur, etc. I'd probably say Riverwalk Center or whatever it's called in Moore is somewhere close to becoming one, and the new 240 Penn Center where Wal-Mart used to be on I-240 and Penn will be one. May Ave. has a lot of shopping areas, but they're kind of spread out...if you were to put the Centennial Plaza at NW 59th and May and French Market together, you'd have a Power Center, but they're separated.

Personally, I like the layout along NW Expressway and May Ave. better......shops more spread out....it makes traffic better. Power Centers tend to be a traffic nightmare.

[Patrick]

By the way, I'm not sure about the Tulsa area. I'm sure Tulsa has a few Power Centers around town, especially along 71st St., but the Tulsa guys on board would have to provide that info.

[Pete]

Patrick, what most people call "power centers' in the commercial real estate business has to do with the composition of tenants rather than square footage.

For example, Rockwell Plaza would not be considered (by most) a power center because it has a couple of large tenants and tons of small ones.

Power centers usually have zero to few smaller tenants and are comprised of "big box" retailers -- usually at least 3 or 4 and often more.

It's a relatively new concept and one bourne from the proliferation of discounters like Home Depot, Lowes, Staples, Petsmart, etc.

[Patrick]

Patrick, what most people call "power centers' in the commercial real estate business has to do with the composition of tenants rather than square footage.

For example, Rockwell Plaza would not be considered (by most) a power center because it has a couple of large tenants and tons of small ones.

Power centers usually have zero to few smaller tenants and are comprised of "big box" retailers -- usually at least 3 or 4 and often more.

It's a relatively new concept and one bourne from the proliferation of discounters like Home Depot, Lowes, Staples, Petsmart, etc.

Thanks for the clarification MalibuSooner. That makes complete sense.

I'll be curious to see if the status of Rockwell Plaza changes after Ross and PetsMart are added, and the Target is enlarged. I doubt that will make it a Power Center, but it is still nice to see that center coming back.