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Thread: Costco

  1. #51

    Default Re: Costco in Active Negotiations

    At a summer Planning Commission meeting, they closed an utility and drainage easement on this site, owned by Houghton Heights Limited Partnership, but said it was for "new medical office".

  2. #52

    Default Re: Costco in Active Negotiations


  3. #53

    Default Re: Costco in Active Negotiations

    I wonder if Tulsa will convince them to open up there first? I honestly would be surprised if that isn't what ends up happening. It has been almost a year since the last rumor that Costco had selected a Tulsa site.

  4. #54

    Default Re: Costco in Active Negotiations

    I never thought I'd see a Nordstrom Rack in Oklahoma, and look what happened
    We need a Costco asap. I'm so sick of Sam's Club. The one near me has terrible customer service, sparse selection of even the most essentials... even if Tulsa gets one first, I'm willing to drive.

  5. #55

    Default Re: Costco in Active Negotiations

    I spoke with a Costco's real estate representative who told me Tulsa will definitely come first. He said they have looked around OKC, but would not commit to saying they are coming here. He said it would be at least 12-18 months.

  6. #56

    Default Re: Costco in Active Negotiations

    Quote Originally Posted by LuccaBrasi View Post
    I spoke with a Costco's real estate representative who told me Tulsa will definitely come first. He said they have looked around OKC, but would not commit to saying they are coming here. He said it would be at least 12-18 months.
    This doesn't surprise me. Everything cool comes to Tulsa first.

    I wonder if Wal-Mart saturation in OKC has anything to do with making Tulsa a more preferable market for them? I wouldn't think Costco would depend on high concentration of high-income homes like upscale retail does. Maybe it's simply that Tulsa's retail environment is already light years ahead of OKCs.

  7. #57

    Default Re: Costco in Active Negotiations

    I grew up in Tulsa and I personally think it has to do having less powerful Suburbs. A retailer could put something in South Tulsa and never consider what about east tulsa, west tulsa, north tulsa. At least in my perspective things in Tulsa are Tulsa centered, while here its all suburb centered. I've lived in OKC for 8 years now and i've met a handful of people through my different employers who have actually lived in OKC schools area.

    Think about OKC, the entire city is segregated into different communities centered around the interstate. I35 in norman, I35 for moore, 240 for south okc, bricktown, midwest city I40e, yukon I40w, penn square, kilpatric, broadway extension, and now i35n in edmond.

    Where is the proper place to put something new? All of these areas have centers of wealth that arent typically willing to drive 30 minutes to another section of town.

  8. #58

    Default Re: Costco in Active Negotiations

    Quote Originally Posted by LuccaBrasi View Post
    I spoke with a Costco's real estate representative who told me Tulsa will definitely come first. He said they have looked around OKC, but would not commit to saying they are coming here. He said it would be at least 12-18 months.
    Really??? I am questioning?? this because clearly it states in first post of this thread that Costco is buying land at Memorial and Western. Furthermore, why would they sit on the land for 12-18 months before they build? Who is this Costco representative? Clearly they should already know that the land is being secured in OKC? Sounds rather fishy, lol.

  9. #59

    Default Re: Costco in Active Negotiations

    Quote Originally Posted by bchris02 View Post
    This doesn't surprise me. Everything cool comes to Tulsa first.

    I wonder if Wal-Mart saturation in OKC has anything to do with making Tulsa a more preferable market for them? I wouldn't think Costco would depend on high concentration of high-income homes like upscale retail does. Maybe it's simply that Tulsa's retail environment is already light years ahead of OKCs.
    Can you give us examples of how Tulsa's retail environment is light years ahead? With all due respect, you constantly talk about how OKC is saturated with Wal Mart and complain about the choice selections here. Sometimes I have to question your motives on this thread??

  10. #60

    Default Re: Costco in Active Negotiations

    Quote Originally Posted by WilliamTell View Post
    I grew up in Tulsa and I personally think it has to do with the layout of the city being better and having less developed Suburbs. A retailer could put something in South Tulsa and never consider what about east tulsa, west tulsa, north tulsa. At least in my perspective things in Tulsa are Tulsa centered, while here its all suburb centered.

    Think about OKC, the entire city is segregated into different communities centered around the interstate. I35 in norman, I35 for moore, 240 for south okc, bricktown, midwest city I40e, yukon I40w, penn square, kilpatric, broadway extension, and now i35n in edmond.

    Where is the proper place to put something new? All of these areas have centers of wealth that arent typically willing to drive 30 minutes to another section of town.
    You are right. It may be because Tulsa is so much more cohesive its easier for retailers to select a site. OKC really seems like multiple smaller communities rolled into one based off of how spread out it is. I can understand upscale retailers like Saks opting for Tulsa over OKC because of the distribution of wealth is more concentrated, but mid-tier retailers like Costco shouldn't have any issues with a market like OKC. It has to be simply easier to select a site in Tulsa. In OKC, Costco will likely need at least a northside and southside location.

  11. #61

    Default Re: Costco in Active Negotiations

    Quote Originally Posted by WilliamTell View Post
    I grew up in Tulsa and I personally think it has to do having less developed Suburbs. A retailer could put something in South Tulsa and never consider what about east tulsa, west tulsa, north tulsa. At least in my perspective things in Tulsa are Tulsa centered, while here its all suburb centered. I've lived in OKC for 8 years now and i've met a handful of people through my different employers who have actually lived in OKC schools area.

    Think about OKC, the entire city is segregated into different communities centered around the interstate. I35 in norman, I35 for moore, 240 for south okc, bricktown, midwest city I40e, yukon I40w, penn square, kilpatric, broadway extension, and now i35n in edmond.

    Where is the proper place to put something new? All of these areas have centers of wealth that arent typically willing to drive 30 minutes to another section of town.
    Sorry not buying it? OKC is logistically layed out much better than Tulsa? OKC has 3 major interstates I40, I35, I44 running through the city. In addition, OKC is layed out pretty much in a grid, NW NE, SW, SE, etc.. so the ease of getting to places is much more plausible than in Tulsa?? Not going to turn this into a Tulsa-vs-OKC rivalry though so I will arrest my case, lol.

  12. #62

    Default Re: Costco in Active Negotiations

    Quote Originally Posted by progressiveboy View Post
    Sorry not buying it? OKC is logistically layed out much better than Tulsa? OKC has 3 major interstates I40, I35, I44 running through the city. In addition, OKC is layed out pretty much in a grid, NW NE, SW, SE, etc.. so the ease of getting to places is much more plausible than in Tulsa?? Not going to turn this into a Tulsa-vs-OKC rivalry though so I will arrest my case, lol.
    The development and growth in OKC is very spread out, regardless of it being at the perfect intersection on the Interstate Highway System. It's difficult to select a single location that will be convenient for NW OKC, Edmond, the inner Northside, along with Moore/SW OKC/Norman. In OKC, Costco will need at least two locations. In Tulsa, it can get by with one simply because of the layout of the city.

  13. #63

    Default Re: Costco in Active Negotiations

    Quote Originally Posted by progressiveboy View Post
    Sorry not buying it? OKC is logistically layed out much better than Tulsa? OKC has 3 major interstates I40, I35, I44 running through the city. In addition, OKC is layed out pretty much in a grid, NW NE, SW, SE, etc.. so the ease of getting to places is much more plausible than in Tulsa?? Not going to turn this into a Tulsa-vs-OKC rivalry though so I will arrest my case, lol.
    I think you missed the core of my message, so i will restate it.

    If a retailer is thinking about entering the Tulsa market its a easy decision put one into South Tulsa, because South Tulsa and its suburbs are so much nicer than the rest of the city.

    With OKC, you have a spread out population with centers of wealth in every direction N,E,S,W. So they have to chose, do we want it in Norman, Moore, Midwest/Choctaw(not so much there), Yukon/ Mustang, NW OKC, Old Edmond or new Edmond?

  14. #64

    Default Re: Costco in Active Negotiations

    Quote Originally Posted by bchris02 View Post
    You are right. It may be because Tulsa is so much more cohesive its easier for retailers to select a site. OKC really seems like multiple smaller communities rolled into one based off of how spread out it is. I can understand upscale retailers like Saks opting for Tulsa over OKC because of the distribution of wealth is more concentrated, but mid-tier retailers like Costco shouldn't have any issues with a market like OKC. It has to be simply easier to select a site in Tulsa. In OKC, Costco will likely need at least a northside and southside location.
    Doesn't Saks get a subsidy from the owner of Utica Square? If they didn't get that more than likely they wouldn't be in Tulsa. It is also a smaller store than most of the other Saks stores that I have been in other cities.

    Austin has two locations, the South Austin store opened up around 2007, not sure when the north store opened up but it was there when I moved to Austin in 2003. Austin is a little easier than OKC because the majority of the population (and money) is west of I-35 and is constrained by The Hill Country to the west. Eventually once the northern burbs (Round Rock, Pflugerville, Georgetown, Hutto) grow I would imagine a third location somewhere around Ikea and the outlet mall is located. The northwestern burbs (Cedar Park, Leander, Liberty Hill) will probably have to be served by the current North Austin store. Judging by how old some of the stores are here in the Denver area they don't tend to move locations to newer stores like Sam's does. May have to do with the difference in property acquisition mentality, Sam's does most locations on a build to suit lease and I think Costco does outright property ownership.

    I could see three possible Costco locations, the Memorial location being discussed, a Moore/Norman location and a Mustang/Yukon location. I think the odds of one east is remote and the west location would be the least likely or last one to be done. There is about 25 miles between the Austin locations, we have three locations within that distance of our house out here in far southeast Denver and about six Sam's locations.

  15. #65

    Default Re: Costco in Active Negotiations

    I doubt Tulsa will secure a location first, I'll even extend that I doubt Tulsa will have one for about 2-3 years after we get our first.

  16. #66

    Default Re: Costco in Active Negotiations

    Quote Originally Posted by LuccaBrasi View Post
    I spoke with a Costco's real estate representative who told me Tulsa will definitely come first. He said they have looked around OKC, but would not commit to saying they are coming here. He said it would be at least 12-18 months.
    Proof?

    I sent in this email and will post the response.

    "Is there any chance that you guys will expand into the Oklahoma City market? Further more, if Costco comes to Oklahoma, would they set up shop in Tulsa first or Oklahoma City first? I would sign up instantly if one were to open up here in OKC and it would very much be appreciated by many here! "

    I don't think they will be in Tulsa for awhile.

  17. Default Re: Costco in Active Negotiations

    Quote Originally Posted by LuccaBrasi View Post
    I spoke with a Costco's real estate representative who told me Tulsa will definitely come first. He said they have looked around OKC, but would not commit to saying they are coming here. He said it would be at least 12-18 months.
    I am not sure that Costco is very happy to have all this info out there until they are ready to make an announcement. They are not going to tell you anything on the front end. That is why they would not commit to coming here at all. They are very secretive about these expansions into new markets.

  18. #68

    Default Re: Costco in Active Negotiations

    Quote Originally Posted by bchris02 View Post
    The development and growth in OKC is very spread out, regardless of it being at the perfect intersection on the Interstate Highway System. It's difficult to select a single location that will be convenient for NW OKC, Edmond, the inner Northside, along with Moore/SW OKC/Norman. In OKC, Costco will need at least two locations. In Tulsa, it can get by with one simply because of the layout of the city.
    Okay, so say they build a Costco around 71st & Memorial. How is driving from Owasso to there any different than someone from Norman driving to Western & Memorial in OKC? I don't get it...

  19. #69

    Default Re: Costco in Active Negotiations

    Quote Originally Posted by OKCisOK4me View Post
    Okay, so say they build a Costco around 71st & Memorial. How is driving from Owasso to there any different than someone from Norman driving to Western & Memorial in OKC? I don't get it...
    It would be similar if there was continuous sprawl from Owasso all the way to Claremore, but there isn't.

    Right now, for a big box retailer wanting to enter a market they consider 'risky', its a lot easier in to select a sure site in Tulsa than it is OKC. We all know that Costco will do very well in OKC, but the formula used by most retailers that works for most other cities doesn't say the same thing. There really is no focal point for retail in OKC. In Memphis it is Germantown. In Charlotte it is the Southpark area. In OKC it could have been Penn Square had Belle Isle been something better than a Wal-Mart shopping center. I think in OKC it will eventually be Memorial but it will take at least a couple more years to get there.

    Little Rock used to have the same problem, back when NW Arkansas seemed to get all the good retail developments and Little Rock was passed up. They built a few risky, ambitious developments and then after a few years things have really fallen into place.

  20. Default Re: Costco in Active Negotiations

    I often wonder if marketing departments for retail companies pull raw numbers for OKC and Tulsa before they look at geographical demographics. If that is the case, OKC would have a lower percentage of households with incomes > $175,000 because of Nichols Hills, while Tulsa's version of Nichols Hills is in Tulsa, therefore making Tulsa appear more attractive.

  21. #71

    Default Re: Costco in Active Negotiations

    Quote Originally Posted by okcpulse View Post
    I often wonder if marketing departments for retail companies pull raw numbers for OKC and Tulsa before they look at geographical demographics. If that is the case, OKC would have a lower percentage of households with incomes > $175,000 because of Nichols Hills, while Tulsa's version of Nichols Hills is in Tulsa, therefore making Tulsa appear more attractive.
    Almost all retailers look at demographics in a 1-, 3- and 5-mile radius.

  22. #72

    Default Re: Costco in Active Negotiations

    Quote Originally Posted by Pete View Post
    Almost all retailers look at demographics in a 1-, 3- and 5-mile radius.
    True, and this is where OKC gets killed every time, unfortunately.

  23. #73

    Default Re: Costco in Active Negotiations

    The ironic reality, however, is that once Costco opens here its results will invariably dramaticly exceed projections, just like Whole Foods and others have, and OKC will certainly exceed Tulsa's numbers its too bad our lack of density skews our numbers so badly, because it makes the numbers lie.

  24. #74

    Default Re: Costco in Active Negotiations

    Yep, it seems every new retailer that opens here blows their projections completely out of the water.

    I'm sure the people at the Chamber who are employed full-time to recruit new retailers have put together an impressive presentation. They have lots of concrete data they can now sell to others.

  25. Default Re: Costco in Active Negotiations

    There are a lot of example as to why the demographics don't represent the true story in OKC. For example the Horison Group that built the outlet mall exceed their projected sales and added on right away. Penn square is one of many properties owned by Simon. As of last year it was the best performing mall in their chain. the Macy's in Penn Square is one of the top grossing Macys stores in the chain. We may not look good on paper but our recors speaks for itself.

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