Retailers Share at ICSC Meeting

Several hundred commercial real estate brokers, retailers and shopping center developers gathered at the Embassy Suites in Rogers on Sept. 9 for the International Council of Shopping Centers’ 2008 Oklahoma/Arkansas Idea Exchange.

Panelist David Faulkner, general manager of the Pinnacle Hills Promenade in Rogers, spoke about new developments in the open-air mall.

A new development, 32 acres of retail, restaurants and office space, will be anchored by Target, he said, and will open in March 2009.

Several retailers announced expansion plans for 2009.

Jay Howard of furniture store I.O. Metro, which opened its first store in Bentonville in March of 2006, said the company has expanded into Memphis, Oklahoma City and Missouri.

Growth plans for 2009 include stores in Dallas, Omaha, St. Louis and five more that are to be announced, he said.

Scott Nelson, assistant vice president of Hobby Lobby Stores Inc., said the company is continually looking for better locations.

The company is also launching two additional concepts. A Christian books and music concept is planned for about five stores per year in Oklahoma and Arkansas.

Nelson said the company is currently looking at Rogers and Fayetteville as potential locations.

The other concept is an upscale furniture store called Hemispheres, which now has stores in Oklahoma City and Dallas.

Nelson said the company will be expanding into markets in Dallas and Austin, and eventually could be in Little Rock and Tulsa.