OVERLAND PARK, Kan. — Nordstorm’s departure from Oak Park Mall sent shockwaves to the community in February 2018 when it announced plans to relocate to the Country Club Plaza.
Retail industry experts said the move could negatively impact Oak Park Mall overall.
Lane 4 Property group released its annual retail report this week and said Nordstrom’s move was the biggest piece of retail news in 2018. The group said the relocation could pose a potentially existential threat to the future of Oak Park Mall.
“What's happening in a lot of these mall locations and with a lot of these larger format department stores is they are shrinking their model, they don't need all the square footage,” said Tom O'Leary, senior vice president at Lane 4 Property Group.
That smaller footprint is what Nordstrom gets in the move to the Plaza according to O’Leary.
While it’s great news for the Plaza, it might not be as great of news for Oak Park Mall.
“It will be a loss, but if they play their cards right and find a good replacement, it could be a significant gain," O'Leary said. "It will be a challenge because it's a three-level department store, but at the same time, a lot of these mall owners are looking for new ideas: entertainment, dining, bowling or theaters."
41 Action News reached out to the owners of Oak Park Mall, CBL Properties and sent this statement:
“Nordstrom leaving gives us a tremendous opportunity to position Oak Park for even greater success through redevelopment. We are evaluating various scenarios, including adding entertainment and other non-retail uses, and will create the plan that makes the most sense for the market. We will make announcements as more definitive plans are available.”
Shoppers said Friday when Nordstrom leaves, so will they.
“I really come here for Nordstrom,” shopper Penny Vandiver said.
“I do think it will definitely impact the mall overall," shopper Susan Perez said. "I think it's a big chain and it's a big name drawer. In the last two years, I probably have not frequented another store in the mall.”
The metro has seen a drop in the number of malls over the decades and by January 2019, only two remain.
“They are still viable, but again, that transition you make from anchor store to the next anchor store is going to be huge," said O'Leary. "Those that can figure that out and get ahead of the curve and bring in those new cool concepts remain relevant, I think."
While it will be a challenge for Oak Park Mall, O’Leary believes they will come out on top.
“In the short-term it will be a hit, but I think they'll come back," he said.
Nordstrom officially moves from Oak Park Mall to the Plaza in 2021.
