Penn Square Mall

Simon Property Group’s leasing profile calls Penn Square Mall the highest-producing shopping destination in Oklahoma, a claim the property’s structure supports more readily than its A- classification would suggest. The 2025 10-K reports 95.0 percent occupancy across 1,082,982 square feet and a 94.5 percent Simon interest. Dillard’s trades from two separate stores, East and West, the second in the box Montgomery Ward vacated in 2001. JCPenney and Macy’s, which carries a Macy’s Backstage inside the store, complete the department store tier, and an AMC complex sits among the major large-format uses on site.

Oklahoma City sits at the center of a broad trade area that extends across the metro’s most populated corridors, drawing shoppers from the northwest Oklahoma City suburbs including Bethany, Warr Acres, and Nichols Hills, as well as communities further out along the Interstate 44 and Northwest Expressway corridors. The property’s location on Northwest Expressway gives it strong accessibility from the dense residential neighborhoods to its north and west, while its central position within the metro puts it within reach of a wide cross-section of Oklahoma City’s consumer base. Nichols Hills, which begins immediately north of the property, recorded a median household income of $218,500 in 2020 and ranks first among Oklahoma municipalities by per capita income, and that concentration of wealth at the mall’s northern edge is what carries the upper end of the tenant register.

That upper end is narrow but real. Apple trades here in one of only two Oklahoma locations, the other at Simon’s Woodland Hills Mall in Tulsa. The Container Store opened its first Oklahoma store on a parking-lot pad in September 2018. Coach, Sephora, Lush, L’Occitane, and Fresh cover the accessible premium tier without a luxury department store behind them. Athletic footwear runs deep for a market this size, with House of Hoops, JD Sports, Champs Sports, Foot Locker, and Kids Foot Locker trading simultaneously. Texas de Brazil, The Cheesecake Factory, and Whiskey Cake form a full-service dining layer around the mall perimeter rather than inside the food court.

The inline register places Oklahoma-founded concepts alongside the national specialty tenants. Kicklahoma, Love Okie, Casavante House of Jewelry, and Classic Charm Boutique each trade from a single Oklahoma location. For a brand evaluating Oklahoma City, that is the co-tenancy worth reading before signing: Penn Square pairs a four-box department store structure with local operators the OKC shopper already knows by name, and an incoming national brand competes for attention against both.