Enid could be experiencing some major new retail developments in the near future.
During an Enid Regional Development Alliance luncheon Thursday afternoon, Rickey Hayes, a retail development specialist in partnership with the city, revealed that three potential tenantshave expressed interest in moving into the vacant Kmart building at 4010 W. Garriott.
Hayes is founder and CEO of Retail Attractions LLC, which specializes in economic development consulting, and has been working with Enid for six years.
The owner of the vacant Kmart building currently is “working with the three tenants,” Hayes said.
“With old buildings like this there’sbenefits, which is it’s already there, we just have to remodel it, but there’s also hindrances and the asbestos word comes up, because it’s an old building,” he said. “What we’re trying to do is get these tenants comfortable with the depth of the market and then see if we can make the economics work.”
Hayes also discussed the possibility of another well-known national retail chain opening in Enid.
“I still think Enid is a Target city … it’s just a matter of time,” he said.
The Minneapolis-based retailer is preparing to expand, he said, and is “focused on new growth.”
As to why Enid is one day destined to have a Target of its own, Hayes highlighted the city’s unique geographic location, assets and economic strength.
“We try to sell them on the fiscal health of the entire economy of the city, and yours is very, very strong, and that’s why these other people are investing,” Hayes said, referring to recent additions like TJ Maxx and Academy Sports + Outdoors.
Enid isn’t just the regional hub for commerce, he said, it is the regional hub for banking, medical services, educational services “and a ton of other things that make this market very desirable.”
Amid the forecast of change, there is at least one, massive, piece of real estate expected to stay the same.
“You like the mall? Good, because it isn’t going to change,” Hayes said.
After two attempts to revitalize the largely emptyOakwood Mall, Hayes and city leaders are doubtful it will turn a corner any time soon.
“The mall’s going to be just like it is 10 years from now,” Hayes said.
In June 2012, Jim Dill, CEO of Tulsabased developer Vector Companies, announced plans to “de-mall” Oakwood Mall by eliminating the enclosed spaces and creating exterior entrances for the shops.However, Vector and J. Herzog & Sons, mall owners at the time, could not reach agreement on a deal and parted ways in 2014.
Then, in fall 2014, S Squared Development entered the picture, signing a contract to acquire the property. But, fell through as S Squared terminated the contract in 2016.
In 2016, the mall was purchasedby Sb Retail GroupCarlsbad LLC.
Story provided by Enid News & Eagle
Written by: Mitchell Willetts