Midtown Retail Competition
Completed Proposals are Due August 16, 2010
Background
Like most of downtown Oklahoma City, the Midtown District lay dormant for many years.
Plagued by a lagging economy and the oil bust of the 1980's, the heart of the city
had become a virtual ghost town. But since the mid-1990s, thanks to both public
and private reinvestment the area has been transformed into an urban oasis. As a
key participant in this revitalization effort, Midtown Renaissance (a REHCO Company)
offers historic, architecturally unique properties to businesses and residents relocating
to Midtown. Their fully refurbished and remodeled properties are home to offices,
retail, restaurants, and residences.
The Opportunity
Midtown Renaissance is pleased to announce an exciting business opportunity. In
keeping with their role as a redevelopment leader, the company is conducting a competition
for one of their high visibility retail spaces in the Plaza Court Building at NW
10th and Walker. Located in the heart of Midtown's entertainment and restaurant
district, the 1,501 sq ft property offers a chic urban location with upscale amenities
suitable for a variety of businesses. The competition is designed to enhance the
creative energy of the district by adding an innovative local business to the retail
mix. Through a competitive proposal review and selection process, the winning applicant
will receive the first year rent-free in a three year lease. The winner will also
receive a free one year membership to the Greater Oklahoma City Chamber of Commerce.
Competition Details
The 1,501 sq ft space is on the ground floor of the Plaza Court Building at NW 10th
& Walker. To see the space contact Ev Ernst, Price Edwards & Co., (405) 843-7474
(Office), (405) 830-8505 (Cell),
eernst@priceedwards.com.
The winner will receive a three year lease with the first year rent-free. A sample
lease is available for download from this site. NOTE: This lease is intended to
be a general framework for use in creating the business plan. The winner will also
receive a one-year membership in the Greater Oklahoma City Chamber. While the base
lease will be free for the first year, the tenant will be required to pay their
share of the CAM (common area maintenance), taxes and insurance. This is projected
to be $290 per month or $3,452 per year.
The tenant will be responsible for their own utilities. The space is all electric
and costs are estimated between $200 to $300 per month or $2,400 to $3,600 per year.
The tenant will also be required to provide their own signage, as appropriate to
their business and this location.
Competition Materials and Information