Penn Square Mall

[OkieBerto]

The Belle Claspenn District.

The Belle Curve District

[Martin]

The Belle Curve District

meh.... as names go, that's pretty average. : )

[HFAA Alum]

The Belle Claspenn District.

The BelleClassPenn District, or the Bermuda Triangle of expendable income.

[OkieBerto]

meh.... as names go, that's pretty average. : )

The Oak Isle District... for those who love the Oak Island treasure-hunting shows? Come on?

[Martin]

The Oak Isle District... for those who love the Oak Island treasure-hunting shows? Come on?

juuust in case it was funny in my head but nobody else's... i only worked 'average' into my post to play off your use of 'bell curve.' i didn't mean for that to be an actual critique of your post.

[Pete]

In addition to Urban Outfitters now being open, Ann Taylor is under construction, as is Paramount Jewelers. Image is open south of Paramount and Free People Movement is in progress south of that.

I didn't see one empty spot in the mall.

[OkieBerto]

juuust in case it was funny in my head but nobody else's... i only worked 'average' into my post to play off your use of 'bell curve.' i didn't mean for that to be an actual critique of your post.

Oh no, I totally caught it; I was just being funny back.

[OkieBerto]

In addition to Urban Outfitters now being open, Ann Taylor is under construction, as is Paramount Jewelers. Image is open south of Paramount and Free People Movement is in progress south of that.

I didn't see one empty spot in the mall.

My girlfriend will be excited about Free People. She already buys their clothing! Thanks Pete!!!

[soonerguru]

In addition to Urban Outfitters now being open, Ann Taylor is under construction, as is Paramount Jewelers. Image is open south of Paramount and Free People Movement is in progress south of that.

I didn't see one empty spot in the mall.

My wife is going to be absolutely pumped about this.

[Pete]

From Saturday afternoon:

[oklanime]

I hope Macy's stays at Penn Square, it's always very easy to find a place to park over there!

[barrettd]

From Saturday afternoon:

Clearly dead.

I have found a little tiny piece of parking that's always available and right near a department store door. I rarely go to PSM much these days, but parking is always my big issue there.

I can relate to Yogi Berra when he said, "Nobody goes there anymore. It's too crowded."

[PhiAlpha]

From Saturday afternoon:

Amazing it’s this crowded with such undersized sewer lines. How will they ever keep up???

[mugofbeer]

They could use another parking garage on the back lot.

[Martin]

They could use another parking garage on the back lot.

i wonder if it would be feasible to add another story or two to the existing structure.

[Snowman]

i wonder if it would be feasible to add another story or two to the existing structure.

Even if it were possible, the parking garage is probably over halfway through it's useful life, so may be more cost effective to build a new structure.

[Martin]

Even if it were possible, the parking garage is probably over halfway through it's useful life, so may be more cost effective to build a new structure.

it was just speculation... honestly, i don't see simon investing that kind of money on the property in the near future.

[PhiAlpha]

Im not sure I’ve ever seen that parking garage or the lot behind it anywhere remotely close to being completely full. Theres plenty of space back there.

[soonerguru]

it was just speculation... honestly, i don't see simon investing that kind of money on the property in the near future.

What a bummer if true. The mall has clearly been a cash cow for them for decades now and still has a bright future. OKC is not getting smaller and the mall is dead center in the retail shopping hub of the city.

I keep hoping the emergence of OAK will lead to greater investment in the mall. If Simon isn't willing to continue to invest in it, I wish they would just sell the property to a group that will.

It's promising at least that we are getting these new-to-market concepts.

[MagzOK]

Im not sure I’ve ever seen that parking garage or the lot behind it anywhere remotely close to being completely full. Theres plenty of space back there.

I've seen it full during the Christmas holidays, but not on a normal basis.

[PhiAlpha]

I've seen it full during the Christmas holidays, but not on a normal basis.

I’ve parked in it the week leading up to Christmas with plenty of empty spots around me (it’s where I always park when I do my last minute Christmas shopping lol). Guess it just depends on the day during the holidays.

[mugofbeer]

Even if it were possible, the parking garage is probably over halfway through it's useful life, so may be more cost effective to build a new structure.

Just curious, considering the age of the much smaller (and not precast concrete) Pasteur Building garage at about 70 years, what is the useful life of a precast concrete parking structure?

[baralheia]

Im not sure I’ve ever seen that parking garage or the lot behind it anywhere remotely close to being completely full. Theres plenty of space back there.

It's been nearly 20 years ago now so take this for what it's worth... but I used to work for the movie theater in the mall back when it was Dickinson, and around Christmas the garage and back lot were just as full as the front lot. That was unusual though, the garage normally was pretty empty. But I don't have any more recent experience.

[Rover]

It's been nearly 20 years ago now so take this for what it's worth... but I used to work for the movie theater in the mall back when it was Dickinson, and around Christmas the garage and back lot were just as full as the front lot. That was unusual though, the garage normally was pretty empty. But I don't have any more recent experience.

When JCPennys and AMC were busier the garage was. Alas, Pennies is in serious decline and AMC in PS is an afterthought. Just like why the Macy’s area of parking has more open spaces usually.

[UrbanistPoke]

it was just speculation... honestly, i don't see simon investing that kind of money on the property in the near future.

Unfortunately this is my fear with both Penn & Woodland. Simon has a lot of assets like this that have very little to no debt and pretty much no local competition either. Just a small amount of investment in new flooring & lighting would make the Oklahoma assets feel completely new. In person retail is all about environment and experience and Simon is really behind the ball on these in markets like OKC but they don't feel they need to do anything and they're somewhat right. However, long term that can splinter out retail and eventually distress the asset. While neither Penn or Woodland have the higher per square foot sales (I believe they are both in the $600-700/square foot range) they are some of Simons most profitable. They have some malls that have well over $1,000/sq ft in sales but they usually have a high amount of debt on those assets too.

I do hope they eventually refresh the malls here sooner than later. Add some public art (think North Park but not that extreme) and things like that. Maybe an outdoor food court and some additional infill with a new parking structure.