ENID — Three large national retail chains plan to open stores at Oakwood and Garriott on the site currently occupied by the former Homeland grocery store.
Rickey Hayes, CEO of Retail Attractions and retail consultant for the city of Enid, made that announcement Monday during an Enid Rotary Club meeting.
Hayes said three national retailers have signed letters of intent to locate here, but the identities of the store chains could not yet be released due to confidentiality agreements.
“These three are all three retailers that aren’t in the market now who will bring a new value to the overall market and increase the already-considerable draw from the outlying areas, which we know is what makes your economy so strong,” Hayes said in an interview Monday after the Rotary meeting. “They’re all recognized national names, and their entrance into the market will increase the synergy that’s already working.”
The three retailers will occupy new storefronts, which will be built on the ground currently occupied by the vacant Homeland building.
The city of Enid purchased the property, which had been vacant since 2005, last year for $1.75 million, then sold it in February for a profit of about $100,000 to Hunt Properties of Dallas.
Hunt Properties plans to demolish the old Homeland building to make way for the new development. Hunt Properties could not be reached for comment Monday, and Hayes said he couldn’t comment on an exact timeline for demolition and construction at the Oakwood and Garriott location.
Hayes did say he expects construction to begin before the end of this year, and for the new retail stores to open in the third quarter of 2013. He said the three retail chains will occupy 60,000 square feet of retail space. The existing building encompasses about 65,000 square feet.
Tenants at other Hunt Properties locations include Target, Kohl’s, PetSmart, King Soopers, Best Buy, Bed Bath & Beyond and Staples.
Hayes said the commitment from the new retail chains, added to the recently announced redevelopment of Oakwood Mall, “speaks well for Enid.”
Vector Companies, of Tulsa, announced last week a plan to “de-mall” Oakwood Mall by redeveloping the mall into an outdoor regional shopping center, retaining anchor stores Dillard’s, Sears and JCPenney.
“It speaks well for Enid to have an announcement from three national retailers in addition to the announcement you had last week,” Hayes said. “The whole market is ripe for hospitality businesses, and as the economy continues to grow and the oil and natural gas industry continues to surge in that part of the state, the economy will continue to be dynamic for the foreseeable future.”