White Oaks Plaza, a shopping center on the west side of Springfield, has been sold for nearly $50 million. The center is situated immediately west of Veteran’s Parkway and across from White Oaks Mall.
The 320,933-square-foot retail development is anchored with Kohl’s and a Harvest Market grocery store. It includes more than 50 retailers, including three from The TJX Companies: TJ Maxx, HomeGoods and Sierra. The newest tenant is Skechers, which opened a freestanding store last month at 2691 Veterans Parkway in a space previously occupied by Treasure Hunt Deals.
Commercial real estate firm Cushman & Wakefield represented the seller, Washington Prime Group, a leading retail real estate operator in the U.S. The buyer, The R.H. Johnson Company, was represented in-house. The R.H. Johnson company, based in Kansas City, Missouri, works with retailers, landlords and developers throughout the Midwest.
“The record-setting sale of White Oaks Plaza marks a major milestone for the central Illinois retail market,” said Evan Halkias, Cushman & Wakefield executive director. “White Oaks Plaza stands out as the premier, dominant regional destination for Springfield and its surrounding communities.”
The R.H. Johnson Company lists four available spaces for lease in White Oaks Plaza, ranging from 1,600 square feet to the former Big Lots space at 45,194 square feet, which is temporarily occupied by Spirit Halloween.
The shopping center was purchased Oct. 3 by Westgate SC LLC for $49,850,000, according to Sangamon County tax records.
So is the buyer RH Johnson or Westgate SC LLC or are they the same owners?