50 Penn Place is an upscale mixed-use development in the inner Northwest part of Oklahoma City, Oklahoma

Oklahoma City, Oklahoma

Oklahoma City is the capital and the largest city in the state of Oklahoma. The county seat of Oklahoma County, the city ranks 31st among United States cities in population. The city's population, from the 2010 census, was 579,999, with a metro-area population of 1,252,987 . In 2010, the Oklahoma...

. The galleria

Galleria

Galleria , or The Galleria, is a common name for a shopping mall, ultimately deriving from the 19th-century Galleria Vittorio Emanuele II in Milan.- Australia :*Centro Galleria - Morley, Western Australia...

-style shopping mall and tower is located in the Penn Square trade area immediately at I-44 and Northwest Expressway, across from Penn Square Mall

Penn Square Mall

Penn Square Mall is a two-story, upscale regional shopping mall and 10-screen theater in Oklahoma City, located at the intersection of Pennsylvania Avenue and NW Expressway, near I-44. The center was originally built as an outdoor shopping center in 1960 with anchors John A. Brown and Montgomery...

 near the exclusive suburb of Nichols Hills

Nichols Hills, Oklahoma

Nichols Hills is a city in Oklahoma County, Oklahoma, United States, and a part of the Oklahoma City metropolitan area. The population was 4,056 at the 2000 census. Nichols Hills is a bedroom community and is completely cut off from further growth. It is surrounded by Oklahoma City and The...

.

The complex consists of a 16-story office tower, 233000 square feet (21,646.4 m²) of retail shops on 3 levels 185000 square feet (17,187.1 m²), and a parking structure.

Midland Oak Realty purchased the building from MBL Life Assurance for $15 million in 1997. The complex is currently owned by a Dallas-based capital management company, which bought the building for $25.7 million in 2004, along with 25 tenants=in-common. A planned sale fell through in 2008.

History

The complex was built in 1973 by C.W. Cameron, founder of American Fidelity. For the next twenty years it was a landmark due to four neon pigs, one on each face, belonging to Sooner Federal Savings and Loan. The tower of 50 Penn Place was once headquarters to Penn Square Bank

Penn Square Bank

Penn Square Bank was a small commercial bank located in the rear of the Penn Square Mall in Oklahoma City. The bank made its name in high-risk energy loans during the late 1970s and early 1980s Oklahoma and Texas oil boom. Between 1974 and 1982, the bank's assets increased more than 15 times to...

, which failed in 1982. It was also formerly home to the flagship store of the Orbach's chain of local clothing stores (which closed in 1990). Although not currently anchored by a major retailer, 50 Penn Place has upscale shops and restaurants, a brewpub, independent bookstore

Independent bookstore

An independent bookstore is a retail bookstore which is independently owned.-Literary and countercultural history:Author events at independent bookstores sometimes take the role of literary salons. The bookstores themselves, "have historically supported and cultivated the work of independent...

, the 50 Penn Place Art Gallery, and various office tenants including LexisNexis

LexisNexis

LexisNexis Group is a company providing computer-assisted legal research services. In 2006 it had the world's largest electronic database for legal and public-records related information...

. In recent years, the retail portion of the complex has lost the majority of its tenants to other shopping venues, such as nearby Penn Square Mall

Penn Square Mall

Penn Square Mall is a two-story, upscale regional shopping mall and 10-screen theater in Oklahoma City, located at the intersection of Pennsylvania Avenue and NW Expressway, near I-44. The center was originally built as an outdoor shopping center in 1960 with anchors John A. Brown and Montgomery...

, and is no longer seen by locals as a shopping destination. However, several upscale tenants still remain, and former retail space is being leased to other tenants, such as ITT Technical Institute

ITT Technical Institute

ITT Technical Institute is a for-profit technical institute with over 130 campuses in 38 states of the United States. ITT Tech is owned and operated by ITT Educational Services, Inc. , a publicly traded company headquartered in Carmel, Indiana. ITT Educational Services, Inc...

.

Tenants

• Clear Channel Radio
• LexisNexis
  LexisNexis
  LexisNexis Group is a company providing computer-assisted legal research services. In 2006 it had the world's largest electronic database for legal and public-records related information...
  
  
• ITT Technical Institute
  ITT Technical Institute
  ITT Technical Institute is a for-profit technical institute with over 130 campuses in 38 states of the United States. ITT Tech is owned and operated by ITT Educational Services, Inc. , a publicly traded company headquartered in Carmel, Indiana. ITT Educational Services, Inc...
  
  
• Pendleton Woolen Mills
  Pendleton Woolen Mills
  Pendleton Woolen Mills is an American apparel manufacturing company located in Portland, Oregon, United States.-Company origins:The company’s roots began in 1863 when Thomas L. Kay made a transcontinental trek to the west coast and began working in the woolen mills in Oregon. He went on to opened...
  
  
• Olive Garden
  Olive Garden
  Olive Garden is an American restaurant chain specializing in Italian-American cuisine. It is a subsidiary of Darden Restaurants, Inc., which is headquartered in an unincorporated area in Orange County, Florida, near Orlando. Olive Garden operates more than 730 locations globally.- History :The...
  
   (separate building in parking area)
• Pinpoint Resource
• Route 66
• 50 Penn Style Shop
• Full Circle Bookstore
• Belle Isle Brewery