2939 Veterans PkwySpringfield, IL 62704

For Sale
Call for price

High-Occupancy Retail Center, Prime Location

Overview

Added:
Dec 11, 2024
Days on market:
93
White Oaks Plaza, located at 2939 S Veterans Pkwy, Springfield, IL 62704, is a dominant 320,933 square foot regional shopping center. This multi-tenant property boasts 98% occupancy across 28 units within five buildings on a 34.88-acre lot. Built in 1986, the single-story center features 1,622 parking spaces and benefits from a highly visible location on two major Springfield retail arteries, Veterans Parkway and Wabash Avenue, experiencing a combined 53,247 vehicles per day. Major tenants include Kohl's, Petco, US Bank, TJ Maxx, Sephora, and Ulta, with a diverse mix of retail and service businesses providing a comprehensive shopping experience. The property's anchor tenants, including Kohl's + Sephora (97,245 square feet, tenant since 1992) and several TJX Companies banners, account for 58% of the gross leasable area and 50% of revenue. Strong grocery shadow anchors, Harvest Market and Sam's Club, further enhance traffic. The affluent surrounding area, with 48,299 residents and an average household income of $103,555 within three miles, contributes to the center's success. The property's APN is 21-12.0-226-001

Highlights

  • Dominant 320,933 SF regional shopping center with 98% occupancy.
  • Strong tenant mix including Kohl's, Petco, US Bank, TJ Maxx, Sephora, and Ulta.
  • 4.2% CAGR upside potential.
  • Flexible layout allowing for potential break-up of the property.
  • Long-term tenants, including Kohl's since 1992.
  • High-traffic location on Veterans Parkway and Wabash Avenue (53,247 vehicles/day).

Property Details for 2939 Veterans Pkwy

Property type
Lifestyle centers, Power centers
Square Feet
320,933 SF
Year Built
1986
Buildings
5
Stories
1
Lot Size (sq. ft)
1,519,373 SF
Units
28

Location Insight

City
Springfield
County
Sangamon
State
Illinois
Latitude
39.7653847
Longitude
-89.7090385
2939 Veterans Pkwy, Springfield, Illinois

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2939 Veterans Pkwy
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