The Edmond Sun

Business

June 30, 2014

Developer reshapes Boulevard shopping center

EDMOND — A multi-million total renovation continues at the new Edmond Market Place shopping center south of 33rd Street and west of Boulevard, said Michael Platt, president of Vanguard Development.

“We’re actively seeking a high-end restaurant to anchor a portion of the shopping center,” Platt said. “We have several restaurants interested at this point.”

Vanguard Development purchased the property in 2013 and is handling the shopping center’s redevelopment after more than five years of vacancies. The center has had a low profile during those years. But that’s about to change, Platt said.

“We decided that center is at a fantastic intersection,” Platt said. “According to the City of Edmond, there’s 43,000 vehicles per day that cross that intersection of Boulevard and 33rd Street.”

This property encompasses 96,112 square feet and was built in 1981. Today Edmond Market Place is 82.76 percent vacant, according to the 2012 Edmond Economic Preview Retail Sector Report. Delta Café  remains a tenant along with a Chinese restaurant and Traditions Furniture. Edmond Market Place contains 79,547 of available square footage.

“Once Hobby Lobby moved out, then over time all of the smaller tenants moved,” Platt said. “And I think the prior ownership was not attentive. I know they were out of state.”

One of the first things tenants told him is that the shopping center had been too dark. So changes will include brand new lighting for both visual appeal and security.

Vanguard Development is building one of the finest shopping centers in Edmond. It will offer a classic design, contemporary in it’s appeal, he said.

“I don’t feel like it’s going to be dated in 10 years,” Platt said.

An investment of about $3 million will refurbish the center with a new roof, glass, sidewalks, parking lights, upgrading the parking lot and a completely new facade of the shopping center, Platt said. Attractive landscaping will replace the Bradford Pear trees that had been cut back in previous years.

“There’s a lot of towers. The center needed presence,” Platt said. “It just sat too low. With that flat roof line it was easy to not notice what was there.”

Several proposals have been made to anchor tenants. And, Platt said he is excited about the prospects.

Janet Yowell, executive director of the Edmond Economic Development Authority, said there has been a lot of interest in the shopping center by major grocery stores. Fisher Hall office complex at 3520 S. Boulevard will compliment the new Edmond Market Place.

Outside of retail shoppers, a daytime population of office workers will need a convenient place for their dry cleaning as well as restaurants to serve them, Platt said. South of Edmond Market Place are two medical facilities with a large OU Medical Physicians presence. McBride Clinic, RCB Bank and Bank of America are nearby.

“You’ve also got Mercy, which is at the intersection of Boulevard and Memorial a mile south of us,” he said.

The Kilpatrick Turnpike is just a mile away as well as a major auto shopping zone. First Baptist Church is a mile to the east of the shopping center. Thirty-third Street and Broadway is the city’s busiest intersection with many people needing to go east.

“You can avoid the congestion of Broadway by taking Boulevard. I think that’s why Boulevard is becoming such an attractive corridor,” Platt said.

Platt said Vanguard Development will be ready for tenants in August.

jcoburn@edmondsun.com | 341-2121

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