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Phase II of Bartlesville's Silver Lake Village center has hit a major snag.  Bartlesville Development Authority President, David Wood confirms that Academy Sports has pulled out of the agreement with GBT Realty.  GBT Shopping Center Division Managing Director Jeff Pape told Wood Wednesday morning that Academy has reduced its new store expansion program and smaller markets such as Bartlesville were unfortunately victims of the reduced expansion plans.

 

Pape says GBT is no longer moving ahead with Phase II.  With no anchor tenant, GBT had no choice but to indefinitely suspend the Phase II project. Pape goes on to say his firm is very disappointed with the change of events because it believes in the vitality of the Bartlesville market.  He says he is still very excited about getting phase I open in a few months.

 

Pape explains that GBT a signed lease with Academy Sports but there was a contingency allowing them to  terminate the lease if GBT didn't close by April 1st.  That didn't happen because of delays caused by required environmental surveys.  GBT was still negotiating up until last week on a lease amendment with Academy allowing for a later closing date and pushing the delivery of the store to later in 2018