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.