50 Penn Place
| Location | Oklahoma City, Oklahoma USA |
|---|---|
| Opening date | 1973 |
| No. of floors | 16 |
| Website | 50PennPlace.info |
50 Penn Place is an upscale mixed-use development in the inner Northwest part of Oklahoma City, Oklahoma. The galleria-style shopping mall and tower is located at 1900 Northwest Expressway in the Penn Square trade area immediately at I-44 and Northwest Expressway, across from Penn Square Mall near the exclusive suburb of Nichols Hills.
The complex consists of a 16-story office tower, 233,000 square feet (21,600 m2) of retail shops on 3 levels 185,000-square-foot (17,200 m2), and a parking structure.[1]
Midland Oak Realty purchased the building from MBL Life Assurance for $15 million in 1997.[2] The complex was later owned by a Dallas-based capital management company, which bought the building for $25.7 million in 2004, along with 25 tenants-in-common. A planned sale fell through in 2008.[3] In March 2011, In-Rel Properties based in Lake Worth, Florida purchased the building for $15.25 million and invested over $1 million in renovations.[4]
History
The complex was built in 1973 by C.W. Cameron, founder of American Fidelity.[2] For the next twenty years it was a landmark due to four neon pigs, one on each face, belonging to Sooner Federal Savings and Loan. It was also formerly home to the flagship store of the Orbach's chain of local clothing stores (which closed in 1990). Although not currently anchored by a major retailer, 50 Penn Place has upscale shops and restaurants, a brewpub, independent bookstore, the 50 Penn Place Art Gallery, and various office tenants including LexisNexis. In recent years, the retail portion of the complex has lost the majority of its tenants to other shopping venues, such as nearby Penn Square Mall, and is no longer seen by locals as a shopping destination. However, several upscale tenants still remain, and former retail space is being leased to other tenants, such as ITT Technical Institute. In March 2011, In-Rel Properties purchased the building for $15.25 million and invested over $1 million in renovations.
Gallery
Tenants
- 50 Penn Place Gallery
- Belle Isle Brewery Company
- Branch Communications
- Capital Insurance Group
- Craig E. Brown, PC
- Full Circle Bookstore & Cafe
- Futurity First Insurance Group
- iHeartCommunications, Inc.
Radio Stations:
* KBRU-FM (94.7) - Classic Rock (94.7 The Brew)
* KGHM-AM (1340) - Sports (Fox Sports Radio)
* KJYO-FM (102.7) - Top 40 (KJ 103)
* KTOK-AM (1000) - Conservative Talk (Newsradio 1000)
* KTST-FM (101.9) - Country Hits (101-9 The Twister)
* KXXY-FM (96.1) - Classic Country (96.1 KXY)
- ITT Technical Institute
- Inceed Employment Professionals
- Jameson Management
- Legacy Investment Services
- LexisNexis Risk Solutions
- Mahin's Full Service Salon
- Mee Mee Hoge & Epperson, PLLP
- Midwest Private Client Group
- Oklahoma City Abstract & Title Company
- Pinpoint Resource Fine Wear
- Regent Bank
- Route 66 Gift Shop
- Summit Group
- Wilsey Meyer Eatmon Tate, PLLC
- Olive Garden Italian Kitchen (separate building on the premises)
See also
References
- ↑ Richard Mize (2008-01-18). "50 Penn Place to be sold to California investors". Daily Oklahoman.
- 1 2 Emily Graham (2007-10-03). "Building's new owners plan series of upgrades". Journal Record.
- ↑ Richard Mize (2008-02-29). "Court catches 50 Penn Place deal". Daily Oklahoman.
- ↑ http://www.in-rel.com/wp-content/uploads/2012/07/a8a003bb-c1fe-d591-97a3-4ff37329e458.pdf