BEFORE
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AFTER
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| BEFORE - Glen Oaks |
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AFTER - Glen Oaks |
The Glen Oaks Shopping Center was one of JAH Realty’s original acquisitions in the Oklahoma City market. JAH Realty purchased this former grocery-anchored center from a national grocery store operator in 1985. JAH Realty saw the opportunity to develop the surplus land in the shopping center, along with the chance to re-tenant the project as the upside to this asset. At the time of acquisition, the project was 60% vacant with no anchor tenant. In 1987, Westlake Hardware leased the anchor space (a former grocery store box). In 1996, the Company embarked on a plan to develop the surplus property. Two pad sites were developed for a restaurant and dry cleaners. The original shopping center was expanded by approximately 3,000 s.f. to accommodate a new Blockbuster Video. Other cosmetic changes to the fascia, parking, landscaping and lighting were added at the same time. Other national tenants were added to the tenant mix. As result of the renovation and development of the excess land, this project has tripled in value and continues to be an outstanding investment property.
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