Oak View Mall shopping center in southwest Omaha is up for sale, according to a listing on Crexi, a website for buyers and sellers of commercial real estate.
The mall, located at 144th Street and West Center Road, is anchored by Dillard’s, JCPenney and The Rush Market.
Oak View Mall, which opened in 1991, has been faced with increased competition and changing shopper habits. Occupancy is 74%, according to the mall’s real estate listing.
In 2021, New York-based Kohan Retail Investment Group acquired the mall. Douglas County property records indicate separate owners for the JCPenney and Dillard’s buildings.
According to the real estate listing, the mall is “tenanted by a mix of national, regional and local tenants with approximately 74% occupancy, offering investors a significant value add opportunity.”
The mall contains retail stores ranging from JCPenney and Dillard’s department stores to narrow niche stores like Victoria’s Secret lingerie store and The Palace, which sells traditional gowns for Mexican quinceañera celebrations.
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The current store lineup includes Build-a-Bear Workshop, Rue21, Champs, Torrid and Zumiez.
Among other stores are Claire’s, Lids, Buckle, Earthbound Trading Company, Spencer’s, Lane Bryant and LensCrafters.
The Rush Market sells home furnishings, everything from sofas to bar stools and decor. The store sources furniture and décor from manufacturer returns, overstocks and closeout sales.
The real estate listing indicates that the property for sale is 32 acres with a gross building area of 543,269 square feet.
The asking price is not listed.
“The mall is complimented by the presence of strong medical users and national retailers in the immediate area,” the listing says.
The mall, which opened in 1991, was the city’s dominant mall into the 2000s.
Increased local competition, faltering national retail chains and changing shopper habits, underscored by online shopping, over time cut into Oak View sales.
When Village Pointe opened in 2004 at 168th Street and West Dodge Road, the open-air lifestyle mall brought new-to-the-market retailers to high-income households in parts of west Omaha.
West Omaha customers are also within a reasonable drive of the Nebraska Crossing shopping center in Gretna. The center similarly offers trendy shopping opportunities in an open-air setting.
Sherry Thomas, visiting Oak View Monday, said she hopes a new owner would keep the mall open.
Oak View Mall in Omaha, which is for sale, also was advertising on Monday that it had space available for tenants to rent.
“I’m tired of them closing all the malls up,” Thomas said. “And when you go shopping in the winter time, you got to go door to door and freeze, running from one store to another. It’s ridiculous.”
Thomas said she likes shopping Penney’s. And she…
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