Newspaper article THE JOURNAL RECORD

Eastland Partners Pays $1.8 Million for Dillard's Location in Tulsa Mall

Newspaper article THE JOURNAL RECORD

Eastland Partners Pays $1.8 Million for Dillard's Location in Tulsa Mall

Article excerpt

A fine steel gray powder permeated the renovated entryway at what once had been Tulsa's Eastland Mall. It pooled like desert sands in the waves of the protective plastic sheeting, clung to the bricks and tile, and formed murky clouds in the centerpiece two-story fountain.

Such was the all-prevailing sign of construction that grips the one-time shopping center being remade as the Eastgate Metroplex office environment. A casual inspection uncovered workers busy in the central corridors, inside former outlets, painting exterior signs, even trimming trees.

"We are on track for how we anticipated it would be," said Director of Development Gerry Chauvin for developer Eastland Partners LLC. "But the truth is, we had two deals in place much sooner than expected. That raised expectations we would be moving faster than we had hoped - including yours truly."

With their first year on the $50-million-plus renovation project nearing completion, Chauvin said the mixed-use project remains only 15-percent occupied, its reconstruction about 20-percent finished. But the developers will soon complete two key steps to advance their vision.

* As Eastland DP LLC, Tulsa County Courthouse records indicate the developers paid $1.8 million to Dillard's Inc. for the chain's former mall location, a 250,000-square-foot, three-story extension that Chauvin expects to transform into a Class A office tower.

* Another arm of Eastland Partners LLC expects to close on the 106,000-square-foot, two-story Mervyn's location within a month.

These deals will finally give Eastland Partners control of the 1 million-square-foot mall and its 150,000-square-foot basement, expanding its ability to meet user needs even as its first two tenants settle in.

Coca-Cola Enterprises will hold a grand opening Oct. 30 for its 62,000-square-foot customer service center at Eastland's west end. …

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