Massive Retail / Hotel / Office Development for Memorial & Western

[animeGhost]

I dont kno if this has been posted about yet. I was driving down memorial after work the other day and noticed a sign saying "Quail Springs Crossing Coming Soon!" I did a little research and found this site Retail Endeavors Group :: Quail Springs Crossing

Its supposed to be an 800,000 sq ft. retail center on the south side of memorial just east of penn.

[warreng88]

This is interesting because there is goig to be a large development just north of Quail Springs Mall that will include retail, office space and condo/loft living as well. I sure hope that area can support both of these developments.

[betts]

I hope that corner can handle the traffic. It's already terrrible, and I find myself avoiding the whole area.

[warreng88]

I hope that corner can handle the traffic. It's already terrrible, and I find myself avoiding the whole area.

I completely agree and hopefully they will get the dedicated turnarounds completed fairly quickly to help with that.

[metro]

I think there is more info on this project posted somewhere on this site.

warreng, I agree it will be interesting to see how well suburbia supports all these developments. Keep in mind there is also another similar project to this going up on Memorial, just right off Hefner Parkway on the SE corner, it has already started development. I personally think since we're so underserved with retail that we should be able to support these. For OKC's sake, I do hope we get retailers we've currently been unable to get.

[jbrown84]

I think there is more info on this project posted somewhere on this site.

I don't think so. I've never heard of this project here or at OKmet. I like the area around the pond, and the offices around the lake. Other than that it looks pretty generic but sounds like they have lined up some good tenants that aren't in this market (Dick's Sporting Goods, Ashley Furniture, Gold's Gym). I'd be especially excited about Dick's because it is so much better than Academy.

[JOHNINSOKC]

This is the first time I've heard of this development. I like the fact that "THE MAIN EVENT" is coming. My parents live in the metroplex and they rave about the one in Grapevine. I never thought we'd get one of those. Hopefully, the growth of north OKC and Edmond will justify all of these new developments and they will all be successful.

[onthestrip]

The restaurant pads around the water feature will hopefully upgrade this cities patio friendly restaurants, as of now there arent many. It does show a Chuy's and Bellini's as two restaurants that are apparently on board.

[metro]

anyone know if this has broken ground yet or not, I know the sign has been up for quite sometime.

[stlokc]

I am of two minds on this development. On the one hand, it looks fairly bland and I will have the same questions as everyone else about whether the Quail Springs area can handle both this one and the one north of the mall. On the other hand, I like the 8-story hotel. And, I am glad to see this at Memorial and Western as opposed to, say, Memorial and Council. Anything that pushes the north-side center of gravity a little bit eastward is marginally better sprawl-wise. We'll see if all these centers actually get built.

[Nawfside OKC]

Wow.. So I guess memorial is the retail and dining hub of OKC. they might have to en.d up adding another lane on both sides for traffic...

[OKCMallen]

I hope that corner can handle the traffic. It's already terrrible, and I find myself avoiding the whole area.

Worst intersection in the city of which I am aware.

[Spartan]

I am of two minds on this development. On the one hand, it looks fairly bland and I will have the same questions as everyone else about whether the Quail Springs area can handle both this one and the one north of the mall. On the other hand, I like the 8-story hotel. And, I am glad to see this at Memorial and Western as opposed to, say, Memorial and Council. Anything that pushes the north-side center of gravity a little bit eastward is marginally better sprawl-wise. We'll see if all these centers actually get built.

Not happening. There are two mixed-use centers about to be unveiled for Memorial Road out west at MacArthur and Council.

[jbrown84]

Why would those happen as opposed to this one?

[onthestrip]

I would imagine this one is a little further ahead based solely on the list of tenants that are shown on their website. It appears it is enough to get construction started, imo.

[Karried]

Worst intersection in the city of which I am aware.

I'm in this area a few times a day... during the holidays it's pretty horrific.. the rest of the time, it's not bad at all.

Of course, I come from the Bay Area of California so it takes a lot of traffic to negatively influence my thinking! This is nothing.

[Spartan]

No.... lol

I meant that the gravity shifting is not happening, not that this project is not happening..

[jbrown84]

Oh.

Sounded like the kind of thing that usually comes from your crystal ball...

[Pete]

Retail Endeavors Group :: Quail Springs Crossing





Memorial at Western retail hub planned
By Richard Mize
Real Estate Editor

Quail Springs Crossing, a major retail-restaurant-entertainment center planned for Western Avenue at Memorial Road, will make the Quail Springs area "the largest shopping destination in Oklahoma City,” the developer said.

About 800,000 square feet of retail stores are planned, the developer said.

About 500,000 square feet of Class A office buildings and a planned hotel would extend the Memorial Road commercial corridor a mile east from its heartbeat, Quail Springs Mall and Quail Springs Office Park farther west, the developer said.

Developer keeping quiet
Retail Endeavors Group, based in Austin, Texas, would not comment, even though a detailed marketing brochure is online, at Retail Endeavors Group :: Quail Springs Crossing — and local representatives have stuck a big sign in the ground, announcing the project, on the southwest corner of Western and Memorial.

Oklahoma City's NAI Sullivan Group is listed online — and on the sign — as local reps, but principal Bob Sullivan said the owner was six weeks away from talking publicly.

The brochure lists Ashley Furniture, Gold's Gym, Main Event Entertainment and Rudy's Country Store and Bar-B-Q as early tenants.

Quail Springs Crossing will be on the hard southwest corner of Western and Memorial Road/Kilpatrick Turnpike. Adjacent to the west will be the Offices at Highland Park, and west of that will be the Shops at Highland Park, on the hard northeast corner of Pennsylvania Avenue and an extended Highland Park Boulevard, south of the Wal-Mart Supercenter and Sam's Club fronting Pennsylvania.

"Our center will bring the largest concentration of retail, restaurant and entertainment to Quail Springs and a new destination for Oklahoma City,” Retail Endeavors Group said in the online brochure.

The 171,362 households, population of 405,833 and average household income of $63,403 within 10 miles will make the project successful, the developer suggested in the brochure.

Northside retail stress?
However, the area is showing some stress with some shopping centers dealing with vacancies from increased competition in recent years, especially along May Avenue from Northwest Expressway to the Kilpatrick Turnpike, according to analysis by Price Edwards & Co.

Retail competition is keen in north Oklahoma City, the realty firm reported in its 2007 year-end retail market summary.

North of Quail Springs Mall, a mixed-used project, an "open-air lifestyle community” called Quail Springs Village, complete with an IMAX theater, is under way by developer Larry Owsley.

South of Quail Springs but in the same trade area, Belle Isle Station Shopping Center "is leading a development rush to the area east of Penn Square (Mall),” Price Edwards said.

"Chesapeake Land Co., the major land owner in the area, has announced that a mixed-use development — office and retail — called Classen Curve between Grand (Boulevard) and NW 56 Street will be its first development of leased property,” Price Edwards said.

Price Edwards also pointed out that Chesapeake Land Co., an arm of natural gas giant Chesapeake Energy Corp., is working with planners to redevelop Chesapeake-owned Nichols Hills Plaza.

"When this redevelopment gets under way, there will be lots of excitement as Chesapeake has announced that it wants to bring tenants to this property that have not located in Oklahoma City before,” Price Edwards said.

Submarket still healthy
With 40 shopping centers totaling 6.2 million square feet, plus 13 freestanding retail stores totaling 715,810 square feet, the area "remains a very healthy submarket,” the firm reported, although the year-end occupancy of 93.8 percent was slightly lower than at the end of 2006.

In a retail submarket already showing some stress fractures, and with credit still tight — and with the developer remaining mum — news of the development raises some questions, said Carl Edwards, co-managing partner and a retail specialist with Price Edwards.

"Will they be able to get the financing to close on the land and build the retail project? That will depend on the tenants they've got,” Edwards said, noting that local lenders now require that major retail project be mostly preleased before extending credit. That's "one of the reasons Oklahoma City is not overbuilt,” he said.

However, demand for retail space along Memorial and the turnpike is strong, he said.

[Pete]

If you look closely at the PDF file on their website, you'll see the following tenants on the site plan:

Main Event
Dick's Sporting Goods
Cavender's Boot City
Rudy's
Chuy's
Toys r Us / Babies r Us
Bed Bath & Beyond
TJ Maxx
Which Wich
Bellini's
Jo Ann Fabrics
Famous Footwear
Lane Bryant
Ashley Furniture

[Karried]

I'll be ecstatic if the Main Event comes to this location. The others don't really excite me but I'm not much of a shopper anyway.

I just hope they aren't biting off more than they chew... the economy here might not be rosy forever.

A little worrisome in my opinion.

[wsucougz]

So... it will have basically all the same retail tenants you can find in any major U.S. strip mall.

After all the hype about the Norman retail center, I was pretty disappointed to see basically the same old lineup, give or take a few, down there as well. Best Buy... or was it Circuit City? Bed, Bath & Beyond... or was it Linens and things? Office depot... Office max, Martinez tires.

[Karried]

Welcome to Main Event Plano

[Pete]

This the nature of today's retail. Every single city seems to have the exact same big-box discount stores all strung together in these 'power centers'.

I was just on the Big Island of Hawaii and they had a Costo, Wal-Mart and all that other stuff.

All this comes at the expense of local, unique retailers. People gripe about Wal-Mart but they are a very small part of this overall trend. The simple truth is that people want inexpensive stuff and thus you get these massive strip centers set in the middle of a sea of parking.

I also question how much of this OKC can support. Seems like the growth of these places is way out of proportion with population increases.

[Nawfside OKC]

Wow so I guess they are going to build one of these things on all the avenues that run north/south through memorial. Is this shopping for the tourists or perm. residents, that will eventually make this the most congested street in OKC a title I think it already holds.