Renovation Project Commenced at Penn Square Mall

A $13 million upgrade is underway at the Oklahoma City retail center, which will soon house a new Barnes & Noble.

Updated on Oct. 5, 2026 in Openings & Closings

Isometric editorial illustration of a clean mall atrium with concrete pillars and a metallic escalator, representing a facility renovation. — Simon Property Group has initiated a $13 million renovation of Oklahoma City's Penn Square Mall, featuring facility upgrades and a new Barnes & Noble location set for 2027. AI Illustration. Upload story photo >

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Simon Property Group began a $13 million renovation of the 1 million square foot Penn Square Mall in Oklahoma City, as evidenced by a building permit filed on September 4, 2026. The site will also welcome a new Barnes & Noble bookstore in May 2027.

Why it matters

The project modernizes a key retail hub for the local community, which has seen shifts in tenant composition since the closure of a Waldenbooks location in 2011. This investment reflects a broader strategy to revitalize the long-standing shopping destination.

BHM Architects filed the $13 million permit for the 1 million square foot facility. Barnes & Noble currently operates a total of 720 locations across the country.

The players

Simon Property Group

This real estate investment trust is one of the largest owners of shopping malls and retail properties in the United States.

Barnes & Noble

This company is the largest retail bookseller in the United States.

BHM Architects

This firm specializes in architectural design and planning services for commercial projects.

The details

Renovations at the facility will include new entrances, repainting, updated signage, flooring, and elevator and escalator replacements. The upcoming bookstore will be located in the mall's west wing, joining new additions such as North Italia and M Beauty Bar.

2002: Simon Property Group purchased Penn Square Mall.
2011: Borders closed its Waldenbooks location at the mall.
September 4, 2026: BHM Architects filed a $13 million building permit.
May 2027: Barnes & Noble is scheduled to open its new store.

Market Landscape

The introduction of a new Barnes & Noble signals a reinvestment in physical book retail within regional mall environments. This follows the 2011 closure of the Waldenbooks store, which represents a shift in the tenant mix at the property.

Shoppers can expect various upgrades to the mall's layout, including improved vertical transportation and aesthetics. The addition of new retailers provides more options for residents visiting the west wing of the mall.

The takeaway

The renovation demonstrates the ongoing effort to maintain large retail spaces as competitive community gathering spots. Consumers should look for these improvements to provide a more modern shopping experience as the project progresses toward its 2027 conclusion.