Seritage Growth Properties, which owns the Sherwood Plaza shopping center, has applied for a building permit on behalf of Marshall’s Department Store. Last July, our sister publication, Illinois Times, broke the news that Marshalls was planning to open in Springfield . The parent company of Marshalls also owns TJ Maxx, which already has a location nearby at 2801 Veterans Pkwy.
The tenant build out, valued at $1.8 million dollars, is for the space at 2560 Wabash Ave. next to Burlington Coat Factory. The architect is Nelco Architecture and Englewood Construction is serving as the general contractor.
Since Kmart closed its west-side location in 2016, Seritage has invested nearly $20 million dollars in redeveloping the entire shopping center. Other new tenants include Binny’s Beverage Depot and Orangetheory Fitness. Outback Steakhouse built a new location that opened last year on one of the outlots, while construction is currently underway on the other outlot for a CoreLife Eatery.
Seritage Growth Properties is a publicly traded REIT and has a large portfolio of properties nationwide, specializing in redeveloping former Kmart and Sears locations into multi-tenant shopping centers. Based out of New York, New York, with real estate holdings in 49 states, Seritage also owns and manages multiple shopping centers in Illinois, primarily in Chicago and the Chicago suburbs, but also Moline and Springfield.