The Finch Formerly Known As Gold

10 February 2007

What may be in store

The Saturday Oklahoman has a column on the second business page which lists major office leases. (This is separate from the major real-estate transactions, which is usually one page over.) This item from today's list gave me pause:

VS Pharmacies signed a ground lease for 60,412 square feet of space in Mayfair Village Shopping Center at NW 50 and May Avenue. [Mark] Inman, Alaina McGlothin and [Brian] Donahue handled the transaction.

This threesome works for CB-Richard Ellis Oklahoma. The first thing that struck me was, well, who is "VS"? Most likely, I reasoned, a typo: this is really CVS. And inasmuch as there's a Walgreens on this corner, a CVS should be considered inevitable: these two chains chase each other all over.

But wait: there's a CVS at the far end of the complex, near 48th and May. And they surely don't occupy sixty thousand square feet, which means that this is probably not a renewal of their current deal.

Which can mean only one of one thing: the oft-rumored displacement of the Mayfair Market, which has sat on this corner for decades. I am, of course, outraged, not so much because of the historical importance of this store (not much) but because this is the only place I know of that actually stocks Kellogg's Pop-Tarts in the plain (unfrosted) blueberry variety. I am so screwed.

But wait! The market isn't 60,000 square feet either. According to the County Assessor, it's 19,600, and there's no way they can scrape it off the pavement and replace it with a building three times its size without getting in the way of Union Bank. That Walgreens is listed as 15,396 square feet.

If nothing else, this gives you an insight into the sort of things I worry about while the rest of the world concentrates on ephemera.

Posted at 6:09 PM to City Scene

Hmmm. That is curious, indeed. 60,000 is a lot of space for a pharmacy. I did a little web searchin' and found this: "With last year's takeover of MinuteClinic, Ryan is adding in-store clinics that treat common illnesses, such as strep throat, ear infections, and pink eye -- a move that allows the company to offer accessible and affordable medical care."

I gave CVS a try in January. I liked the open space and quietness of the store, but it still flunked the test when it failed to deliver the promised $10 rebate... and instead of fixing it, they gave me a toll-free number to call and warned me I would have to jump through a lot of hoops. No thanks and good bye.

Posted by: Jan at 7:17 PM on 10 February 2007

I went back to the paper and found this item:

"CVS 6009 OK LLC paid $1.2 million to Sooner Investments for 60,412 square feet of land on the northeast corner of Northwest Expressway and Council Road. Inman handled the transaction. Capital Abstract was the closing company."

Hmmm. Maybe that is where that mysterious number came from. A 20,000 square foot building plus the obligatory parking lot would fit.

Posted by: CGHill at 7:50 PM on 10 February 2007

Here ya go...

link to

Stock up!

Posted by: Luke at 10:46 PM on 10 February 2007

Well, I'll be damned.

(Note: This is not necessarily a prediction.)

Posted by: CGHill at 11:15 PM on 10 February 2007

Here's a better deal from Amazon....Buy a case of 12 8-packs for $23.55. That drops the price from $2.59 a box to $1.97. Not bad!

Posted by: MikeSwi... at 12:16 AM on 11 February 2007

Indeed, since $2.29 a box was the going rate at the store.

Posted by: CGHill at 9:40 AM on 11 February 2007

But, wasn't the deal at Mayfair a lease? Do you lease parking space in a strip mall? Maybe you do...I just didn't think so. I should have mentioned that "Ryan" is the CEO of CVS. It is still possible they are planning a CVS clinic. Even though I don't like CVS, I have to admit the idea is appealing.

Posted by: Jan at 11:11 AM on 11 February 2007