June 19, 2013

Foreclosure proceedings filed against OKC mall

BY: AP Staff Writer MARCH 3, 2013 | MODIFIED: MARCH 3, 2013 AT 5:45 PM
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OKLAHOMA CITY (AP) — Foreclosure proceedings have been started against a northwest Oklahoma City mall.

U.S. Bank N.A. has started foreclosure against Shepherd Mall Office Complex in Oklahoma County District Court.

Property manager Ed Duclos told The Oklahoman (http://bit.ly/Y7yY5k ) that he was not aware of the action filed Friday.

Price Edwards & Co. reports that the 709,000-square-foot mall was 21 percent vacant at the end of 2012 — with about 152,000 square feet of space available.

The former retail mall was converted to office use in the mid-1990s and faces the pending departure of the Oklahoma Health Care Authority — which plans to move into space just north of the state Capitol.

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Information from: The Oklahoman, http://www.newsok.com

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