A new strip mall is under development on West White Oaks Drive, just west of Kohl’s
and White Oaks Plaza.
The development at 2901 West White Oaks Drive will feature six units of about 1,800
square feet each. Prep work currently is underway, and ground could be broken at the
site “at any time,” according to Jerry George of The Real Estate Group Inc., the property
manager for the project. George estimated construction should be completed by the end
of the year.
The project is valued at $1 million, according to a city building permit. The contractor is
Sri Karthik, and the architect is Tim Smith of Evan Lloyd Architects.
Dr. Shyam Gandam purchased the 1.5 acre commercial lot, which is located between
the University of Spa and Cosmetology Arts and a building housing a State Farm office
and the Global Grooming Lounge barbershop, in 2025 for $300,000, according to
Sangamon County tax records.
Space in the new development will lease for $29 a square foot. George said the
property would be a good fit for retail establishments, office space or restaurants.
“It’s just a great location with a lot of traffic,” he said. “Visibility will be great.”
The vacancy rate for retail space in the Springfield market was 3.2% in the fourth
quarter of 2025, up from 2.4% in the fourth quarter of 2024, according to data
from the National Association of Realtors. Springfield’s office space vacancy rate was
6.4% at the end of 2025, up from 3.1% in the prior year.