Penn Square Mall

Penn Square Mall has been part of Oklahoma City’s retail landscape since it was constructed as an outdoor shopping center in 1960. While its ownership has changed over the years – Simon Property Group acquired the mall in 2002 – Penn Square Mall is still a leader in upscale regional shopping and is currently the largest retail property in the state of Oklahoma.

What role does Oklahoma City play in Penn Square Mall’s success? According to Robert Alexander, senior vice president of leasing for Simon, Oklahoma City’s economic environment has set the scene for Penn Square’s growth.

“[Oklahoma City] is the largest retail market in Oklahoma,” Alexander said. “We view this as a booming market; it is a growing market. We have seen some incredible sales growth here. When we purchased the mall in 2002, the sales per square foot were approximately $400 per square foot. It has climbed almost $300 per square foot since we purchased the mall in 2002.”    

Alexander works to recruit high-end retail to Penn Square Mall’s growing list of stores in Oklahoma City, a city that he views as an extension of the Dallas retail market.

“Many national retailers, particularly some of the top-tier luxury retailers, certainly don’t have Oklahoma on their hit list, and our job is to convince them that it should be,” he said. “We find a lot of interest once the tenants realize what the sales per square foot coming out of Oklahoma City are. It’s been such a great success story, that I guess, in some respects, it sells itself.”

Oklahoma City’s retail market has allowed Penn Square Mall to thrive as one of Simon’s best portfolio assets. Penn Square’s steady growth enabled Simon to invest $78 million in their 2013 renovation.

“In this part of the country, this is one of the best malls that we have in our portfolio,” Alexander said. “This mall produces sales per square foot higher than some of the very top regional malls in the DFW market. We’ve seen growth in sales every year that we have owned the mall. It is a great market for us.”

Visit our affiliate sites

Shop Oklahoma City Will Rogers World Airport is soaring to new heights every day! For the second year in a row, OKC's Will Rogers World Airport hosted a record breaking number of passengers. ✈️
Shop Oklahoma City Higher broadband internet speeds (up to a gigabit!) are coming to OKC! Story via #VeloCityOKC
Shop Oklahoma City The craft brew scene in OKC is going under an amazing transformation right now, and breweries like Anthem Brewing Company, LLC are leading the way. Oh, the benefits of living in a craft beer town 🍻 Article via #VeloCityOKC
@okcretail ICYMI unemployment in OKC in October remained at 2.8%. This isn't just the lowest unemployment rate in Oklahoma (but unemployment is down statewide in all 77 counties!), but the lowest it's been since 2001.
@okcretail Already the OKC Streetcars are delivering heaps of success across the city. There's more money flowing in, a more navigable downtown area and a better sense of community, to name only a few of the immediate benefits.
@okcretail A big part of keeping a park beautiful is keeping its trees healthy--that's why OKC is investing $600,000 in keeping its trees healthy and beautiful.
Welcome to OKC | Property Search | Success Stories | Districts - Regional | Districts - Neighborhood | News
maps | about us | contact us | sitemap