White Oaks Plaza…not the mall across the street…has been sold to a major Kansas City, Missouri developer and landlord in a massive property deal.
The State Journal Register reports that the plaza, which sits across the road from White Oaks Mall off of Veterans Parkway in Springfield’s west end sold to U.S. company The R.H. Johnson Company, a member of Chainlinks Retail Advisors, a nationwide organization which facilitates expansion, disposition, relocation and repositioning efforts throughout the U.S. and Canada this past week.
The White Oaks Plaza has over 320,000 feet of retail space and houses stores like Harvest Market, Kohl’s, TJ Maxx, Ballys and HomeGoods among others. It’s ranked in the Top 12% of shopping centers in Illinois, according to the Johnson Company website.
The exchange between the Johnson Company and Westgate SC LLC was for $49.8 million according to cited Sangamon County property tax records. Johnson Company has already listed four spots in the plaza up for lease. The deal was finalized on October 2.
According to the report, it is very unlikely to see a change on the consumer side of tenants moving or the name of the plaza changing post-sale. The deal is likely one of the largest retail space sales in Sangamon County’s history.