Costco

[mugofbeer]

Kinda off topic but has there ever been discussions about moving the exits further back to allow more space for cars to merge over to make right turns? Getting off at any of the main roads during peak hours it's almost impossible to get over. I see this more now on WB/EB exits on May, Penn, and Western.

I was in OKC this week along Memorial and had the same observation. The knucklehead designers of the Kilpatrick have traffic emptying nearly right up to the corner. Even mid-day, mid-week, traffic backed up and peoplevwere doing some major lane-changing. It's unfortunate but the exits do need to be moved or extended past the major streets to service the next street a mile in advance.

[bluedogok]

Oh lordy. Since this will be the only one in the city, it's going to be packed all day every day. Hopefully they open a few more.

I would think they will build one in the Moore/Norman area sometime in the future. When I lived in Austin we had two, one on South Mopac close to our house and one north on 183. We have six locations in the Denver area but the one by us (Parker location) is constantly packed. We shop at Sam's more frequently.

[brianinok]

When it comes to chain retail, I think the last major missing piece for OKC is a truly upscale department store. Neiman Marcus, Saks Fifth Avenue, Lord & Taylor, Nordstrom. One of those four - probably in the 63rd and Western area.

They aren’t building a lot of these anymore, but if OKC can get one of those, it would go a long way.

We need a Nordstrom. We make consistent trips to Dallas for those, or purchase online. The others are good, but Nordstrom is best. Funny thing is we nearly always end up at Northpark or Stonebriar, and recently went to Nordstrom at Galleria. That is a pitiful Nordstrom. If we get one I hope it's better than that. They might have had less than half the stock of the Northpark location.

OKC's shopping is better than it was several years ago, but when we want efficient shopping we just go to Dallas for the weekend and go to Northpark. You can find nearly anything there. Our Penn Square Dillard's is the only store we have found that is better or equal to Dallas. But the bulk of our shopping can still be done in OKC.

[mugofbeer]

Its highly doubtful Nordstoms would put a store in OKC. Few of their full service stores make money. Even the one here by me in South Denver isnt ever truly busy. They are getting killed on the cost of their Puerto Rico store and the cost of their flagship Manhattan store which is not yet open. The Rack and online keeps Nordstrom going

[bluedogok]

Yeah, the Park Meadows store seems to have very little traffic.

[Pete]

Here is a better image showing how Costco will be situated.

[jonny d]

We need a Nordstrom. We make consistent trips to Dallas for those, or purchase online. The others are good, but Nordstrom is best. Funny thing is we nearly always end up at Northpark or Stonebriar, and recently went to Nordstrom at Galleria. That is a pitiful Nordstrom. If we get one I hope it's better than that. They might have had less than half the stock of the Northpark location.

OKC's shopping is better than it was several years ago, but when we want efficient shopping we just go to Dallas for the weekend and go to Northpark. You can find nearly anything there. Our Penn Square Dillard's is the only store we have found that is better or equal to Dallas. But the bulk of our shopping can still be done in OKC.

Moat Nordstrom's are awful, and not busy at all. I went to 2 in NorCal, and they were not well stocked, and were almost empty.

[Rover]

Nordstrom’s is recognized as industry best in customer service and relationships. But you pay for it. It is doubtful that they would find enough regular customers here to make it work. The majority of OKCitians seem to look for value, not personal service. There is a market here, but thin. They are the ones that also travel and have high end shopping experiences when they do.

Look at Von Maur....if they aren’t busy, Nordstrom’s would die here. It’s a pipe dream in OKC or Tulsa.

[bluedogok]

The Nordstrom in Austin at Barton Creek Mall and the Park Meadows Mall here in South Denver has been like a ghost town whenever I have been in them

[Motley]

Decided to investigate but couldn't find the sales/sq ft for Von Maur. Nordstrom averages $370/sq ft and Neiman Marcus $467/sqft. Both these department stores are far above others, although it appears this source combines all department stores under a parent company, so, for instance, they list Macy's but not Bloomingdale's. Macy's averages around $150/ft and Dillard's comes in at $117/sq st. Again, I assume the number for Macy's includes all the department stores under that parent company. Since Von Maur is private, they probably don't have to publish their figures.

My source was emarketer.com

[Pete]

^

According to records filed with the City in 2016 as part of an incentive deal, Von Maur reported $27.5 million in sales in 161,561 SF, which equates to just over $170 / SF.

They had estimated they would do $40 million or $247 / SF.

[Motley]

According to the article in the OKlahoman, they are happy with the performance in OKC, and it appears they are doing better than the average Macy's or Dillard's. Encouraging, I would say. Can't say for TX, but as you know Pete, Nordstorm's does quite well in CA and the rest of the West coast.

[jn1780]

Here is a better image showing how Costco will be situated.

Glad their not putting in any entrances besides the one at the light and along the service road.

[jn1780]

According to the article in the OKlahoman, they are happy with the performance in OKC, and it appears they are doing better than the average Macy's or Dillard's. Encouraging, I would say. Can't say for TX, but as you know Pete, Nordstorm's does quite well in CA and the rest of the West coast.

Is that just raw sales or does it factor In the increase cost of the goods they have to buy? Macys and Dillards are going to have lower cost of goods sold numbers.

[Motley]

based on gross sales of the store.

[Ward]

Costco does a mind blowing roughly $1,100 sales per square foot. Sams is far behind at roughly $600 per square foot.

That's amazing.

[onthestrip]

According to the article in the OKlahoman, they are happy with the performance in OKC, and it appears they are doing better than the average Macy's or Dillard's. Encouraging, I would say. Can't say for TX, but as you know Pete, Nordstorm's does quite well in CA and the rest of the West coast.

Probably happy because the store got built and Von Maur hasnt hit the threshold to where the city has to pay them their share of sales tax TIF money. So its obviously not doing great, but maybe in the department world its not doing bad. Maybe $170 per square foot for department stores is ok (I dont see how) but thats definitely not good for smaller retail stores like your Gaps, Finish Lines, and Victorias Secrets.

[Pete]

And honestly, what is Von Maur going to say in the press when they have already invested a ton and signed a long-term lease?

"OKC is a cheap stinktown and we should never have come here. We are losing our butts!"

[scottk]

Probably happy because the store got built and Von Maur hasnt hit the threshold to where the city has to pay them their share of sales tax TIF money. So its obviously not doing great, but maybe in the department world its not doing bad. Maybe $170 per square foot for department stores is ok (I dont see how) but thats definitely not good for smaller retail stores like your Gaps, Finish Lines, and Victorias Secrets.

https://9to5mac.com/2017/07/29/apple...r-square-foot/

Average in 2017 is $325 per square foot for retail, down from $375 from the early 2000's.

Obviously, there are a lot of factors that play into this: store rent, hourly wages, incentives, etc. With OKC's low costs of living and "space" to build, $170 per square foot may be ok.

[Rover]

National avg for Macy’s is $198. Dillard’s is $126. Being avg means there are lots and lots of stores doing worse than that.

In general department stores are having a hard time...especially the high end ones. Kohl’s is way higher if that tells you something.

[jonny d]

The Dillards at Penn Square is among the best in the chain (maybe the best). The men's store has Creed cologne - which is VERY rare in OKC. And it has a lot of upscale brands (similar to Von Maur and Nordstrom). I thoroughly enjoy shopping there. It must be doing well for Dillards to constantly keep increasing the upscale brands there.

[Ward]

I was of the impression that negotiations for a sales tax rebate whatchamacallit for Costco was in process. Then once that was agreed on, we'd hear about it. Then plans and permits would be filed, land purchased, and then construction would commence. Since building plans have been filed, can we safely assume this deal is basically a done deal and it's now just a matter of time to work? If so, did the tax negotiation succeed? Thanks

[mugofbeer]

Here is a better image showing how Costco will be situated.

I don't know why, maybe it's nothing, but it seems putting the entrance and exit (which will be very, very busy at times), in such close proximity to the entrance ramp to the toll road, will cause significant traffic problems. It seems the access to COSTCO should be further down the road so the mass traffic decision-making can be stretched out

[stile99]

I was of the impression that negotiations for a sales tax rebate whatchamacallit for Costco was in process. Then once that was agreed on, we'd hear about it. Then plans and permits would be filed, land purchased, and then construction would commence. Since building plans have been filed, can we safely assume this deal is basically a done deal and it's now just a matter of time to work? If so, did the tax negotiation succeed? Thanks

Posts #751 and 756.

[jn1780]

I don't know why, maybe it's nothing, but it seems putting the entrance and exit (which will be very, very busy at times), in such close proximity to the entrance ramp to the toll road, will cause significant traffic problems. It seems the access to COSTCO should be further down the road so the mass traffic decision-making can be stretched out

It does seem like an odd spot. It's not intended for anyone exiting Costco so you can bet there would be physical barriers to keep people from trying to immediately trying to get into the onramp from Costco. The main way to get out of Costco will be from Western. Otherwise you would have to go east to Santa fe. I wonder if the city will ever consider making walker go all the way to the service road. That would make my life easier when going home from Costco as I live in the neighborhood directly north from memorial.