The Shops at Broken Arrow (Target Project)

[Composer]

Target pays $2.58 Million for land in Broken Arrow

Target Corp. of Minneapolis has paid $2.58 million for land in a new Broken Arrow retail development, records show. Although officials were not available Wednesday to discuss the transaction, the deal with Auburndale-Halifax Broken Arrow LLC caps months of rumors that Target intended to build a store in Oklahoma's third-largest city. Tulsa County Courthouse records show Target acquired a lot in The Shops at Broken Arrow subdivision from Auburndale-Halifax, an affiliate of Halifax Development LLC of Denver. Tulsa real estate executives said Halifax would handle leasing for the shopping center, to go in east of the Bass Pro Shops near 71st Street and the Broken Arrow Expressway. That subdivision is so new it does not show up on the county computer records.

Court Newkirk, new business development director with the Broken Arrow Chamber of Commerce, said he didn't hear about the deal until contacted for comment: "I knew it was coming, and I knew where they were going to put it, but I didn't know when," he said.

While a building permit has not been filed with the project, Broken Arrow city officials said Target intended to start construction early next year for completion before the 2008 Christmas season. Target officials said it was too early to comment on the development. But several Tulsa real estate analysts confirmed the Halifax plans to build the estimated 40-acre Shops at Broken Arrow shopping center. Steve Walman of Walman Commercial Real Estate Services said Halifax developer Hans Kuhlmann already had several junior anchors in tow.

"They've got quite a number of spaces pre-leased," said Richard Monaghan, a retail specialist with CB Richard Ellis of Oklahoma. "Obviously Target is an anchor and I think they have a linens store and an electronics store."

This would mark the second of three Target stores expected to join the metro retail base over the next year. One is scheduled for completion in March at the 750,000-square-foot Tulsa Hills shopping center being developed at S. 71st Street and State Highway 75. One also has been rumored for Bixby, although Tulsa metro area real estate executives expect Target to choose instead a location at 101st and Memorial in south Tulsa. The Tulsa Hills and Broken Arrow stores would feature the Minneapolis company's 126,000-square-foot general merchandise store format. But the 101st and Memorial location may feature a Super Target format, which includes another 50,000 square feet of grocery space.

The 1,591-store company now operates 10 stores in Oklahoma, three of those in the Tulsa area. Only one is a Super Target. Target's expansion follows that of retail giant and competitor Wal-Mart, which also is said to have three stores plotted for the Tulsa suburbs.

Whatever kind of store the new Target is, the Broken Arrow community would welcome the added retail base, Newkirk said. "Our sales tax here has kind of been in a stagnant period," he said. "There's even been some months with drops this year. So to get another retailer with significant sales is going to be a significant boost to our sales tax."

ALSO....

KOHL'S is coming to Broken Arrow

The latest site plan for The Shops at Broken Arrow shows a KOHL'S department store.  

So far, only Target and Marshall's are confirmed but the site plan shows:

Target
Marshall's
Famous Footwear
Justice Clothing Co.
Olive Garden
AT&T

...and spaces for other stores (hopefully a Best Buy).

I also just got confirmation from the Vice President of Real Estate for Bed Bath & Beyond that they know of the opportunities in the area and "plan to have a store here in the next 2 years".

[YoungTulsan]

Ive never actually been to a Kohls.  When they first started appearing, I was rather shocked at the size of their stores (seeing them from the road).  They take "big box" to a whole new level.  What could be so great that they need to dedicate an entire square mile to?

[joiei]

quote:Originally posted by YoungTulsan

Ive never actually been to a Kohls.  When they first started appearing, I was rather shocked at the size of their stores (seeing them from the road).  They take "big box" to a whole new level.  What could be so great that they need to dedicate an entire square mile to?

Maybe it would help your understanding to actually go in one.  And Walmarts and Targets are much larger.  Plus, their product mix is much better than Walmart.

[sgrizzle]

quote:Originally posted by inteller

Target is really overextending themselves in the Tulsa area.  Do the concepts of cannibalism not mean anything to them?  They are saturating South County with a bunch of stores that people don't want.  I don't think they realize the novelty factor of Target.  if they make themselves as common as Wal-Mart people will just go to wal-mart.  They are reading into a demand that is just not there.  Target was better than the "old" wal-mart.  But the new wal-mart stores going up have the same "quality" of appearance that Target does.  One is blue, one is red...who cares.

There are going to be 4 superwalmarts in BA (plus multiple WMNM) and you think one regular target is oversaturating?

pshaw.

[Composer]

There will only be 3 Supercenters in BA in about 2010.  I think inteller is just mad at Target because of the proposed memorial store.  None of the residents near the Broken Arrow development are complaining because they are tired of driving to Tulsa just to go to Target.

[TeeDub]

quote:Originally posted by Composer
None of the residents near the Broken Arrow development are complaining because they are tired of driving to Tulsa just to go to Target.

Much like the residents near the hospital, the ones that use to back up to a pretty field, and now will be looking at the back of a Target are the one's *****ing.

Everyone thinks that the view will be there forever.

[Composer]

There really has not been much complaining about Target in Broken Arrow.  I can kind of understand the hospital because the proposed helipad is practically in their backyards.  I think everyone has agreed on delivery times that are not too early or late.

[joiei]

quote:Originally posted by Composer

There will only be 3 Supercenters in BA in about 2010.  I think inteller is just mad at Target because of the proposed memorial store.  None of the residents near the Broken Arrow development are complaining because they are tired of driving to Tulsa just to go to Target.

I am beginning to think that Inteller works for Walmart.  He sure does like them a LOT.     They are very defensive of any criticism of the behemoth of retailing.  Back to Target,  I do not mind new ones.  My money goes to Minneapolis faster than it does to Bentonville.

[Composer]

The new Broken Arrow store will be on the east side.

[RecycleMichael]

The new Wal-Mart in Coweta should be open in two weeks.

I am working on putting a recycling center on the old Wal-Mart location parking lot after they move to their new store.

[TeeDub]

Target/Cinemark/Marshalls/et al will be in Tulsa county.  The nearest Walmart (currently) will be the supercenter at 71st and 145.  (2 miles)


They have announced they are building ANOTHER supercenter Walmart at 71st and 209th.   (2 miles east in Wagoner county.)

[Composer]

Construction on the infrastructure and Target should begin this week.

[hello]

I used to live out there. I hated when that Walmart closed down and when the Albertsons closed down even though I hated shopping there. I would have LOVED to have a Target. They are also building a Cinemark in that area.

[Composer]

The Target and Cinemark will be good for the area.  Where have you moved to now?

[hello]

Near downtown Tulsa.