WPG Portfolio


Building Area Gross
Land Area Gross ()
Rentable Area
Occupancy 83.0 %
Call for Offers

Portfolio description

JLL has been retained as exclusive advisor for the sale of four enclosed regional and super regional malls (the “Portfolio”) which is comprised of 2.7M sf of retail GLA. Each asset serves as the main retail hub of their respective markets with Southern Hills Mall in Sioux City Iowa, Lindale Mall in Cedar Rapids Iowa, Lima Mall in Lima, Ohio and New Towne Mall in New Philadelphia, Ohio.

Investment Highlights


All assets in the Portfolio enjoy expansive trade areas, with the closest enclosed regional mall competition ranging from approximately 30+ to 80+ miles from each Property. Notably, all of the assets rank as the number one regional mall within 50 miles. Lindale Mall and Southern Hills Mall rank 2nd and 3rd in Iowa, respectively, while New Towne Mall and Lima Mall rank 2nd and 6th in Ohio, respectively.


With an average occupancy cost of approximately 9.9%, this implies a very sustainable health ratio and an ability to further grow in-place rents.


Each asset is prominently located and highly visible at the intersection of highly trafficked roadways, providing ease of access throughout their respective trade areas.


Each Property is at an attractive stage in its leasing cycle, offering a compelling entry point for a new investor to capitalize on a number of actionable value creation opportunities including in-line lease up ability and anchor box repositioning.


The Portfolio presents new ownership the opportunity to acquire well located and established regional malls below replacement cost. New ownership’s will have ability to implement a successful redevelopment / repositioning strategy, enhanced by a lower basis.


Located in Iowa (Southern Hills Mall and Lindale Mall) and Ohio (Lima Mall and New Towne Mall), this offering presents a compelling portfolio opportunity to build a presence in the region and achieve significant potential operational efficiencies.

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WPG Portfolio (4 Properties)
4400 Sergeant Road
Sioux City, IA, United States
Lindale Mall
Cedar Rapids, IA, United States
New Towne Mall
New Philadelphia, OH, United States
Lima Plaza
Lima, OH, United States
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Last Updated Date: 18 Oct 2022

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