{"id":1004774896,"date":"2025-10-17T03:14:35","date_gmt":"2025-10-17T11:14:35","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004774896"},"modified":"2025-10-17T03:15:55","modified_gmt":"2025-10-17T11:15:55","slug":"wpg-sells-springfield-shopping-center-in-historic-deal","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/wpg-sells-springfield-shopping-center-in-historic-deal\/","title":{"rendered":"WPG Sells Springfield Shopping Center in Historic Deal"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a26190d2a465&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-large is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"620\" data-attachment-id=\"1004774897\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/wpg-sells-springfield-shopping-center-in-historic-deal\/whiteoaksplaza\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/10\/WhiteOaksPlaza.png\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"WhiteOaksPlaza\" data-image-description=\"&lt;p&gt;Image sent by Jeremy Barewin at  Cushman &#038; Wakefield, October 2025.  &lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;The property features 50 retail and dining options across from the White Oaks Mall. Image courtesy of Cushman &#038; Wakefield&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/10\/WhiteOaksPlaza.png?w=800\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/10\/WhiteOaksPlaza.png?w=800\" alt=\"Aerial shot of White Oaks Plaza in Springfield, Ill.\" class=\"wp-image-1004774897\" style=\"width:412px;height:auto\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/10\/WhiteOaksPlaza.png 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/10\/WhiteOaksPlaza.png?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/10\/WhiteOaksPlaza.png?resize=768,595 768w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">The property features more than 50 retail and dining venues across from White Oaks Mall. <em>Image courtesy of Cushman &amp; Wakefield<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Washington Prime Group has sold White Oaks Plaza, a 320,933-square-foot retail center in Springfield, Ill., to The R.H. Johnson Co. The property changed hands for $49.9 million, <a href=\"https:\/\/eu.sj-r.com\/story\/business\/2025\/10\/16\/white-oaks-plaza-in-springfield-has-been-sold-for-nearly-50m\/86715174007\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><em>The State Journal-Register<\/em> reported<\/a>. The deal, facilitated by Cushman &amp; Wakefield, represents the area&#8217;s largest open-air retail deal to date.<\/p>\n\n\n\n<p>White Oaks Plaza features more than 50 retailers with shopping and dining options. The R.H. Johnson Co. has this retail center listed in the top 12 percent of shopping centers in the state.<\/p>\n\n\n\n<p>Khol\u2019s + Sephora, TJMaxx, HomeGoods and Sierra are the plaza\u2019s anchor tenants, with other national retailers such as Petco, Olive Garden and Sketchers part of the roster. At the start of the year, The Buckle Inc., a denim specialty retailer that houses more than 200 brands, relocated from its store in the nearby White Oak Mall to the plaza to offer its visitors a more immersive experience.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/top-retail-trends-uncertainty-shifts-demand-dynamics-in-2025\/\">Top Retail Trends: Uncertainty Shifts Demand Dynamics in 2025<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>Located at 3003 S. Veterans Parkway, the shopping center is part of Springfield&#8217;s dense retail corridor that also includes Southwest Plaza, Parkway Pointe and The Gables, among others. The property serves an estimated population of nearly 51,000 within a 3-mile radius, with an estimated average household income of more than $119,000.<\/p>\n\n\n\n<p>Cushman &amp; Wakefield\u2019s Retail Investment Advisors Evan Halkias, Mark Gilbert, Zander Fried and David Matheis negotiated on behalf of the seller. The R.H. Johnson Co. was represented by an in-house team.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-wpg-retail-continues-to-sell\">WPG retail continues to sell <\/h2>\n\n\n\n<p>The sale of White Oaks Plaza is the latest deal involving a WPG asset. When the company placed Polaris Fashion Mall on the market, half of its portfolio had already been sold. <a href=\"https:\/\/www.commercialsearch.com\/news\/oconnor-capital-buys-majority-stake-in-columbus-mall\/\">O\u2019Connor Capital Partners acquired Polaris<\/a> in late July.<\/p>\n\n\n\n<p>Also in July, CBL Properties purchased <a href=\"https:\/\/www.commercialsearch.com\/news\/cbl-closes-179m-retail-acquisition\/\">four enclosed retail malls<\/a> from WPG for $179 million, adding 2.2 million square feet to its retail footprint. Almost a month later, Second Horizon Capital bought a <a href=\"https:\/\/www.commercialsearch.com\/news\/second-horizon-buys-950-ksf-retail-center\/\">950,000-square-foot shopping center<\/a> in Orange Park, Fla. The property was 95 percent leased at the time of sale, anchor tenants including AMC Theaters, Dillard\u2019s, Dick\u2019s Sporting Goods and more. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>This is the largest open-air retail transaction the area has seen to date. <\/p>\n","protected":false},"author":3749,"featured_media":1004774897,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,13,21742,21749],"tags":[32799,34071],"class_list":["post-1004774896","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-midwest","category-latest","category-retail","tag-cushman-wakefield","tag-washington-prime-group"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>WPG Sells Springfield Shopping Center in Historic Deal - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Washington Prime Group has sold another retail asset in Springfield, Ill., totaling 320,933 square feet to The R.H. 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