Springfield, Ill. — Charles Robbins Realty Co. sold the 368,000-square-foot property.
Springfield, Ill. — An investor group led by St. Louis-based The Staenberg Group (TSG) has acquired Southwest Plaza, a 368,000-square-foot shopping center in Springfield, for approximately $45.2 million. TSG purchased the fully occupied shopping center, which is located at the intersection of South Veterans Parkway and Wabash Avenue, from Charles Robbins Realty Co. Bank of America provided long-term financing to TSG. The center is fully leased to tenants including Best Buy, Sports Authority, Bed, Bath & Beyond, Michaels, Office Depot and Ross Dress For Less.
Alvin Mansour of The Mansour Group arranged the sale. Michael Staenberg formed TSG after selling some of his ownership interests in various national commercial real estate entities to Stan Kroenke, his longtime partner, in late 2012.