Under New Management: New real estate company takes over West Ridge
A Fort Worth, Texas, commercial real estate company has taken over management responsibilities for Topeka's embattled West Ridge Mall.
The Woodmont Company is now running the mall, sources at the mall tell 13 NEWS. Founded in 1980, Woodmont is in charge of over 100 properties and specializes in development, brokerage, and investment sales of retail properties, according to
In February, the mall's owner, the Washington Prime Group,
via Securities and Exchange Commission
to let its lender take control of the property.
In the same filing, Washington Prime said it intended to do the same with Wichita's Towne West Plaza. The moves were expected to save them $3.5 million.
West Ridge Mall has seen a series of high-profile retailers leaving the mall recently. The latest high-profile departure, Sears, moved out in January. Burlington Coat Factory, Eddie Bauer, Chick-fil-A, Kwan Wah, and GAP have all left as well.