Promenade Mall could soon have a new owner.
The current owner, Mike Kohan of Kohan Retail Investment Group, told the Flyer this week a “property settlement” could come any day — and Tulsa Oilers owner Andy Scurto will likely have a say in what happens next.
“We’re involved in some opportunities,” Scurto said. “There is something in the works.”
Scurto told the Flyer he couldn’t say much more because of a non-disclosure agreement, but he thinks the abandoned mall should be repurposed into “more entertainment and more housing for midtown Tulsa.”
Scurto said he hopes to “announce something” in the next few weeks.
Erran Persley, Tulsa’s economic development director, said revitalizing that area will provide an economic boost to midtown.
“Any time you take a property that has been dormant and an eye sore for years, and turn it into something that’s very productive… housing, entertainment, nice restaurants, that drives sales tax dollars and people to come to that area,” said Persley. “It not only helps that development but all the other shops around there as well.”
Scurto already has a stake in the property. He opened WeStreet Ice Center in the former Macy’s in March 2024. The indoor ice sports and entertainment arena also serves as the Tulsa Oilers practice facility.
Extra Space Storage, Genesis Health Clubs, TruHealth Integrated Care, CREOKS and the Dillard’s Clearance Center also currently anchor the building at the southeast corner of East 41st Street and South Yale Avenue. Firestone Complete Auto Care is on a separate parcel.
It is unclear how the sale may impact the current tenants.
Code violations and unpaid taxes plague Promenade property
Promenade Mall closed permanently in September 2023 after Kohan failed to address municipal code violations related to the building’s fire suppression and alarm system, among many other infractions. According to a 2022 story from The Real Deal, these kinds of problems are common at a number of malls Kohan has purchased across the country.
Tulsa code enforcement deemed the property “unfit for human occupancy or use” this April after pictures of its interior were posted anonymously to Reddit.
As of mid-November, Kohan owed nearly $575,000 in unpaid ad-valorem taxes for 2022, 2023 and 2024, according to the Tulsa County Treasurer’s tax payment website.
Tulsa County Treasurer John Fothergill said if the 2022 taxes are not paid by June 8 next year, the property will be sold to the highest bidder at the county’s annual real estate auction.
It narrowly escaped the auction block earlier this year, until Kohan paid $265,000 in June for 2021 taxes.
Many Tulsans are hopeful the once bustling mall could become useful again.
“It is sad,” said Katie Thomas, a Tulsan shopping at Southroads Shopping Center. “It’s in such a busy part of town, which is confusing to me. Midtown is a thriving area. Why do we have a dead mall in the middle of it?”
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