View Full Version : Talbots looking at Penn Square



Patrick
12-21-2004, 01:14 AM
Rumor has it that Talbots is considering a move to Penn Square. Problem is, Penn Square doesn't have any space available for them at the current time. But, that doesn't seem to be a problem, as Talbots is still under a 5 year contract with 50 Penn Place. Anyways, not sure if Talbots will stick with it and move across the street, but I wouldn't be surprised if they do that in the near future. Every store that's moved to Penn Square away from 50 Penn Place has seen huge increases in profits. Williams-Sonoma and Ann Taylor are good examples. If Talbots decides to leave 50 Penn Place, what would that mean for 50 Penn? Well, that pretty much spells the death of 50 Penn Place, IMHO. Talbots is pretty much the anchor of the retail sector at 50 Penn Place. If Talbots moves in the near future, I wouldn't be surprised to see Harolds move with them.

There is only really one space open right now that Tablots might consider.....2nd floor on the Foleys wing....Penn Square has been using this for short term leasing and seasonal shops. All Wireless is also on a short term lease, thus this area could be leased all at once. Also, spaces currently leased by Julyani and th Zoo store are temporary spaces. Other than that, the mall is full....all other spaces are long term leases. That's not too shabby, just having 3 short term leases.

By the way, OU/OSU A Store Divided is on a short term lease, but White House/Black Market has already leased that space long term along with a portion of the old Express space next to Jos A Bank...they plan to open Spring of 2005. This will be another upscale store to the Penn Square market.

Luke
12-21-2004, 07:50 AM
There is a vacancy on the second floor by Express and Vanity. Do you know what that will be? It's been vacant for awhile.

HOT ROD
12-21-2004, 11:54 AM
I hope this does not happen.

I really wish 50 Penn would develop into our own Galleria. It has the makings of one if the owners would get a vision and remodel the place.

If this would occur, it would create a really nice, upscale retail district - PENN (that would probably be the largest in the state - if it isnt already).

Luke
12-21-2004, 05:38 PM
I've thought (and maybe posted it before) of a cool idea...

What if they built a long indoor sky bridge across NW Expressway from Penn Square Mall to 50 Penn Place. The walkway could have one of those airport style conveyer belts to get people from side to side. It would help both places I think, but it would help 50 Penn more.

Also, they could put retail kiosks in there too.

PS: Patrick, what about that place upstairs next to Express and Vanity? Did you find out anything? Thanks.

Patrick
12-21-2004, 10:41 PM
Hey Luke, Pac Sun is moving up there, into a larger space. They also like being near Hollister. The current Pac Sun space next to Motherhood Maternity will be up for lease.

Also, in regards to your idea of connecting 50 Penn Place and Penn Square....I've mentioned it to the mall manager and Simon Property Group before. They actually looked into it after I mentioned it. I had mentioned expanding a wing out from the front of Penn Square (at the main mall entrance), and stretching it over NW Expressway to connect with 50 Penn Place.
Sure, it would be nice, but it would be extremely costly. Anytime you build a large space up in the air like that it's going to cost. Unfortunately, for Simon Property Group, it simply wasn't feasible financially. It would probably just be a loss over the long term. Simply connecting the two with a conveyer belt without stores in between wouldn't really solve our purpose....it would still give the appearance that the two centers were separate. To make them feel like one center, you'd have to connect them with a wing of stores. Obviously, as I've already mentioned, that would be quite costly.

It's kind of like the cost difference between building structured parking and surface parking.

Simon probably would've considered it more, if there would've been a greater return on the investment.

Luke
12-22-2004, 02:36 AM
Wow, in a way I'm surprised they even considered it... But now that I know they have, I want them to think about it, rework it and make it work. :)

Penn Square Mall is the best hope for snagging the biggest high end names. But, it's full. Expanding the mall would be a great option. But any expansion they do would HAVE to include more parking garages. That place is packed, even during non-holidays...

Patrick, aside from the skyway idea, have they mentioned about just building a new wing into the parking lot without attaching it to 50 Penn? I mean, it would be less costly than a skyway yet add more valuable leasing area. Again, taking up parking space to expand the mall would mean they would have to build a garage, but why not? I'll bet they'd still have a waiting list, even after expansion.

One last idea is to do what they did before... add another story. Yeah, it would be exensive...but more expensive things have been done.

So, is there anything on the table at all when it comes to Penn Square Mall expansion?

Patrick
12-23-2004, 11:06 AM
Seems like anyway you turn would be expensive. Unfortunately, Penn Square has just run out of space, for the most part. It doesn't have the luxury Quail Springs does, having a lot of open land around it. IMHO, I kind of wish Penn Square would've purchased the old Belle Isle Power Plant, back when it was for sale. They could've expanded the mall to the east.

Anyways, anyway you turn now will take up a big chunk of parking. Problem with a new wing out the the south is you'd basically have no parking in the front of the mall. People fight over those front parking places now as it is.
I guess the Galleria in Dallas doesn't have much surface parking, so it's an option. Again, mall mangement has to consider the return on such a project.

Unfortunately, the structure of Penn Square itself won't accomodate a 3rd floor.

The only thing in the works right now is to lease some of the surrounding pad space to restaurants. There are very few restaruants on the property, so this will add some diversity to the property. I've noticed Quail Springs is doing the same with much of the surrounding space they own. TGI Friday's is one example.

I also spoke with Quail Springs Mall management about expansion. They said that they do have the land for expansion, but there's really no way to expand the mall anymore. They said they really pulled some strings locating the theater right out in the front, in place of where the main entrance used to be. They've said, unfortunately, it's made parking on the south side worse as well. I asked if they'd consider a parking garage...they said they wouldn't due to costs.

mranderson
12-23-2004, 11:08 AM
They could go to Crossroads.

Patrick
12-23-2004, 12:37 PM
Unfortunately, the thing holding Crossroads back is pure mismangement by Macerich Property Group, and the demographics surrounding the mall. Seems like the location on 2 major interstates should make up for the demographics to some extent.

Luke
12-23-2004, 01:27 PM
What if a new mall was built?

Aren't southwest OKC, West Moore and northwest Norman higher income areas? In fact, isn't one of the zip codes down there the wealthiest one in the metro? Rivendell maybe? Penn Square isn't exactly a convenient drive (what, 20 minutes or so?) and forget about Quail Springs. I know Odom is a big time upscale developer out there. Maybe he could do something like that. Looking at a map, I-44 and SW 119th might be a general area to build a new upscale mall.

Of course, I'd bet there's even a market for a nice mall out further north of Quail Springs Mall in West Edmond/far north OKC off of Penn and Covell or Coffee Creek or even Waterloo maybe.

mranderson
12-23-2004, 01:34 PM
What if a new mall was built?

Aren't southwest OKC, West Moore and northwest Norman higher income areas? In fact, isn't one of the zip codes down there the wealthiest one in the metro? Rivendell maybe? Penn Square isn't exactly a convenient drive (what, 20 minutes or so?) and forget about Quail Springs. I know Odom is a big time upscale developer out there. Maybe he could do something like that. Looking at a map, I-44 and SW 119th might be a general area to build a new upscale mall.

Of course, I'd bet there's even a market for a nice mall out further north of Quail Springs Mall in West Edmond/far north OKC off of Penn and Covell or Coffee Creek or even Waterloo maybe.

Yes. the 73170 zip code is the third most wealthy zip code in Oklahoma. Mine, 73159 is not far behind.

Can south Oklahoma City support an upscale mall? Yes. Then we can close gangbanger central (Crossroads).

Luke
12-23-2004, 02:12 PM
mranderson, do you know where I can see the wealthiest zip code listings for the state and then particularly OKC metro? There are some neighborhoods that I am especilly curious about.

Patrick
12-23-2004, 04:23 PM
Unfortunately, the city of Edmond would never allow a mall to be built. The residents would complain forever.

Unfortunately, as we all know, malls are on the way out. The last mall was built like 3 or 4 years ago, if my recollection serves me correctly. Maybe SW OKC should consider a really nice shopping village like Utica Square.

mranderson
12-23-2004, 04:28 PM
mranderson, do you know where I can see the wealthiest zip code listings for the state and then particularly OKC metro? There are some neighborhoods that I am especilly curious about.

I am not sure where they are now. My info is from an article in the Oklahoman from about five years ago. You might try their archives.

Luke
12-23-2004, 05:16 PM
I dunno if traditional malls are on the way out. The Shops at Willow Bend in Plano wasn't built too long ago. Shopping villages are basically outdoor malls and those are trendy now. I believe that either an outdoor shopping village or a traditional mall would do very well in SW OKC or Edmond/North OKC.

HOT ROD
12-23-2004, 07:53 PM
SW OKC needs upscale retail!

Patrick
12-26-2004, 11:23 PM
I agree.....whether it be an upscale mall maybe like Northpark, or a shoppnig village, maybe like Spring Creek Plaza in Edmond. Seems like Spring Creek Plaza serves the Edmond market very well. I imagine that Spring Creek Village will also be a hit! It looks like it's gonig to be a pretty large development. If you haven't been up to Edmond lately, you might check out the NW corner of 15th and Bryant. The Spring Creek Village development site covers a lot of land facing 15th St.

kielaaron
01-09-2005, 08:44 PM
Malls are totally done for in the OKC metro area for the time being... with all of the new strips all over the area there's no need. Yukon has its new Lowe's/Chili's area, Moore got their Kohl's/Gordman's complex. OKC actually has an amazing phenomenon in the fact that its three significant malls are so filled to capacity. Go to Enid and look at the miserably empty 500,000 sf Oakwood Mall and realize what zealous mall-building will earn you!

However, just in case anyone's interested... I have reason to believe that three new Old Navy's will appear in the OKC metro by end of 2006. There are five areas under consideration from what I understand. Just what we need, I'm sure!!

I personally won't be happy until we get respectable retail sources in the downtown OKC area; what a significant sign of growth.

Luke
01-09-2005, 09:30 PM
The "Renaissance Galleria" is what we should push for. A retail center just south of the new Galleria garage.

metro
01-09-2005, 09:54 PM
keilaaron, can you shed some light on possible new old navy's? I know its got to be inevitable for one to locate to the west okc/ yukon area

Luke
01-10-2005, 04:51 AM
There going to put one on 240 where they're tearing down that wal-mart and mardel.

I would bet that the huge retail complex that Midwest City is building across from Tinker on SE 29th will be where another one goes.

And metro's right, if Yukon or West OKC doesn't have one yet, that could be another area.

metro
01-10-2005, 08:16 AM
well im almost positive there is one in the westgate marketplace but I could be wrong. Even if there is, Yukon or furter north part of west OKC could support one towards 39th and the turnpike area or at Garth Brooks Plaza.

mranderson
01-10-2005, 08:55 AM
There going to put one on 240 where they're tearing down that wal-mart and mardel.

I would bet that the huge retail complex that Midwest City is building across from Tinker on SE 29th will be where another one goes.

And metro's right, if Yukon or West OKC doesn't have one yet, that could be another area.
Just to clarify. When you say "one," are you saying South Oklahoma City is getting a Talbot's, or are you refering to the new strip center?

Luke
01-10-2005, 09:17 AM
I'm referring to Old Navy. Sorry for the confusion.

metro
01-10-2005, 10:24 AM
im sure she was talking about Old Navy since the previous question had asked about oldnavy locations

mranderson
01-10-2005, 10:27 AM
Never hurts to be sure. It could have been Talbots since the thread is about them. Or about the new strip center. The message was not clear.

kielaaron
01-10-2005, 11:54 AM
Our corporate offices have hinted at new ON locations in MWC, Yukon, South OKC, and in Westgate Plaza. These probable three will be the older-style, boutique-like stores, similar to those formerly at Quail Springs and Parkway Plaza. No more of the behemoth warehouses like those at Sooner or Quail - people in Oklahoma don't know how to shop nicely in our big stores...

mranderson
01-10-2005, 11:57 AM
Our corporate offices have hinted at new ON locations in MWC, Yukon, South OKC, and in Westgate Plaza. These probable three will be the older-style, boutique-like stores, similar to those formerly at Quail Springs and Parkway Plaza. No more of the behemoth warehouses like those at Sooner or Quail - people in Oklahoma don't know how to shop nicely in our big stores...
Are you saying the owners of Old Navy sent you this email?

If so, what an insult saying Oklahoman's do not know how to shop "nicely." The location on 240 is firm.

kielaaron
01-10-2005, 12:08 PM
I have worked at Old Navy for several years and inthe past six months the corporate chatter about expanding the Oklahoma market has come up more regularly. 2006 was the date we've been tipped...

In regards to people not shopping nicely... it's the truth. I know that I watch people come into our stores and treat the place like it's a rummage sale. We can't keep up with them as they pay no regard to the state of our store and then complain to us about it, as though we like it the way they leave it. Just because we have clothes that ARE similar in price to a garage sale, they don't have to literally throw things about. This is true in all three stores in the metro area. Suddenly our stores are a battle zone in which we can fight no combat.

I just moved to the metro area ONs in 2001. We never had these problems where I came from. While I know it's insulting, it is also difficult to witness people behave like animals day after day and not come to such a conclusion. I would love to write a manners column in local newspapers to tell people how to better their own shopping experiences via a variety of behavioral standards!

Patrick
01-10-2005, 03:05 PM
The Yukon location is also a done deal....I've spoken with the developer out there.

Also, there is not currently an Old Navy at Westgate Market Place on Reno and MacArthurr...just a Ross, Shoe Carnival, etc. I wouldn't be surprised if an Old Navy were built out there though.

Also, as mranderson said, the Old Navy at the old Wal-Mart location is a done deal.

Sooner&RiceGrad
01-12-2005, 06:21 PM
That sucks. 50 Penn Place is the metro's best shopping mall...

Sooner&RiceGrad
01-12-2005, 06:26 PM
What if a new mall was built?

Aren't southwest OKC, West Moore and northwest Norman higher income areas? In fact, isn't one of the zip codes down there the wealthiest one in the metro? Rivendell maybe? Penn Square isn't exactly a convenient drive (what, 20 minutes or so?) and forget about Quail Springs. I know Odom is a big time upscale developer out there. Maybe he could do something like that. Looking at a map, I-44 and SW 119th might be a general area to build a new upscale mall.

Of course, I'd bet there's even a market for a nice mall out further north of Quail Springs Mall in West Edmond/far north OKC off of Penn and Covell or Coffee Creek or even Waterloo maybe.

I don't want to see Crossroads closed for this however. Crime will run rampant with the states largest one time mall a huge empty vacant building.

Yes, P.B. Odom is currently propelling himself into commerce. He is building a big center with an old navy, and all your big box retailers you could dream of at Penn and 74th street.

Sooner&RiceGrad
01-12-2005, 06:27 PM
Unfortunately, the city of Edmond would never allow a mall to be built. The residents would complain forever.

Unfortunately, as we all know, malls are on the way out. The last mall was built like 3 or 4 years ago, if my recollection serves me correctly. Maybe SW OKC should consider a really nice shopping village like Utica Square.

There is a Sak's going up at 15th and Bryant.

Don't worry. I'm going to begin editing my posts.


SW OKC needs upscale retail!


people in Oklahoma don't know how to shop nicely in our big stores...


This made me chuckle. The problem lies with Old Navy. They tried to cheaply consolidate the whopping OKLA market into a few stores in Lawton, OKC, and Tulsa. What do they expect? It will be mayhem! One of the world's busiest Wal Marts is in Lawton. It is getting better though, it was once the world's 5th busiest. When you have these problems, you have to deal with it.

P.B. Odom tore down the old Albertson's on Western and 104th. He is building a very, very upscale shopping center in it's place.

Patrick
01-12-2005, 11:22 PM
Actually, the writer of that article made a lot of statements about SpringCreek Village that aren't true. Saks has NOT made any commitments to come to Edmond.

Sooner&RiceGrad
01-12-2005, 11:23 PM
The basterd!

Patrick
01-12-2005, 11:38 PM
Just to make some comments on other threads listed here......50 Penn Place is going down because it doesn't have any major anchors and the owners are focusing more on the office tower. The mall will probably eventually be another office arena!

Sooner&RiceGrad
01-12-2005, 11:44 PM
Isn't it he metro's first "smart tower"?

El Gato Pollo Loco!!!
01-12-2005, 11:51 PM
50 Penn Place has a mall??? I thought it was just little shops and offices...you learn something new everyday huh?

Sooner&RiceGrad
01-12-2005, 11:56 PM
Yeah... the first 3 floors.

El Gato Pollo Loco!!!
01-12-2005, 11:57 PM
go fig...

Patrick
01-12-2005, 11:57 PM
If you want to call it that....there aren't too many shops left. Pendelton will be leaving soon. And Talbots may come after that.

Sooner&RiceGrad
01-13-2005, 12:05 AM
Pendleton just opened up!!!