Bye-Bye, Crossroads

And so it is done.

The last remaining vestiges of the old Crossroads Mall have finally sold. Price Edwards announced the sale of the former Dillard’s store today, thus marking an end to a long-running, topsy-turvy chapter in local retail real estate.

Here is the formal release:

Price Edwards & Company is pleased to announce the sale of Dillard’s at Crossroads, the last available real estate at Crossroads Mall.   

Price Edwards & Company handled the sale of the 193,000 square foot Dillard’s building at Crossroads Mall in south Oklahoma City.  The sales price was $900,000. The purchaser was CRM Properties Group, LLC, which purchased the 762,532 square foot main mall in 2011 from an affiliated entity of the Federal Reserve Bank of New York.  Price Edwards was the listing broker for the 2011 transaction as well. The mall is currently in the process of being repositioned in an effort to cater to the local Hispanic community.

Dillard’s operated its retail department store at the Crossroads location for more than 30 years, having built the building in 1972 and closed the doors in October of 2008.

Karleen Krywucki represented Dillard’s in the transaction. Paul Ravencraft and Phillip Mazaheri represented the buyer.

Price:  $900,000

Improvement SF:  193,000

Land Size:  15.06 +/- acres

Buyer: CRM Properties Group, LLC

Seller:  Dillard’s Inc