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Bass Pro area reels in new center: An Arkansas development company buys 39 acres northwest of the outdoor-sports superstore.
(Tulsa World (OK) (KRT) Via Thomson Dialog NewsEdge) Oct. 28--Yet another development near the Bass Pro Shops store in Broken Arrow has been announced, this time a 360,000-square-foot, $50 million "lifestyle" center incorporating retail shops, restaurants and entertainment.
Dixie Development and Management LP, a Fayetteville, Ark.-based company, purchased 39.3 acres northwest of Bass Pro for the center's development. The land was sold by Phil Roland.
Mike Parrish of Parrish Co., the broker for the transaction, said Friday that Dixie paid $12.3 million for the land.
Ben Israel, chairman and CEO of Dixie, said the company had wanted to build in the Tulsa area for some time and was attracted to the growing retail area at the intersection of the Broken Arrow Expressway, Albany Street and Elm Place.
"We like Bass Pro being there, and there isn't much retail in Broken Arrow," he said. "We felt the time was right."
Construction on the center will likely begin in mid-2007 for a 2009 opening.
The project may not be the last for Dixie Development in the Tulsa area. Israel said the company is negotiating the sale of an additional 66 acres on the west side of Elm Place that would be used for a second phase to the lifestyle center. The project would be in the range of 450,000 to 550,000 square feet and cost approximately $80 million, he said.
Israel said Dixie is already negotiating with retailers for space at the center, but nothing has been finalized.
"All the major box stores will get a look at it," he said.
Dixie hopes to attract a movie theater as part of the project, he said.
Keith Sterling, director of communications for the city of Broken Arrow, said Dixie's announcement continues a string of good news on the city's retail front.
"What's happening near Bass Pro is huge for Broken Arrow," he said. "To attract that kind of center there doesn't surprise us."
Dixie controls 2 million square feet of retail and office space in northwest and central Arkansas, Dallas and Joplin, Mo.
The center near Bass Pro will be the latest in a string of developments that have popped up after the 130,000-square-foot outdoor-sports retailer opened last year. Two restaurants -- Steak & Shake and Los Cabos -- have opened nearby, and two more -- Lone Star Steakhouse and Runt's -- should follow in November, Parrish said.
A new Holiday Inn Express & Suites, constructed by SJS Hospitality LLC of Tulsa for $8.3 million, opened this summer. SJS officials previously announced plans for an additional hotel to be constructed adjacent to the Holiday Inn, but Parrish said plans are not finalized.
A 34,000-square-foot, $4 million strip center called Village at Stone Wood Hills, currently under construction in the area by Roland Investments, is 70 percent complete, Parrish said. Two additional phases of the center are planned.
Parrish also said a city-funded, $6.5 million convention center is planned for the area.
Copyright (c) 2006, Tulsa World, Okla.
Distributed by McClatchy-Tribune Business News.
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