The Joplin Globe, Joplin, MO

Business

March 4, 2013

Foreclosure proceedings filed against OKC mall

OKLAHOMA CITY — 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 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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