Out goes the mall, in comes the carpentry men. Woodman’s, a local food market company known for its wide range of groceries and retail offerings, has recently acquired the Oshkosh Outlet Mall in a $12,000,000 deal, sparking curiosity and concern among Oshkosh residents about the future of the space. Despite initial speculation, Woodman’s has confirmed that they have no plans to transform the mall into another one of their supermarkets or gas stations, like the one in Appleton. Their only intentions are to maintain the outlet mall, preserving the existing shops and the outlet concept that has served the community for years. The purchase was announced through a press release from Mid-American Real Estate, which manages the Outlet Mall, in October. 

“As we take on this role, we are committed to maintaining the mall's high standards of operation and ensuring a smooth transition for tenants, customers, and the community,” they said. “Our goal is to continue providing a vibrant and welcoming environment for all who visit and work at The Shops at Oshkosh.” 

Some community members are less enthusiastic about the sale. Blake Nikolas, a 2024 graduate of Oshkosh West, worked at Adidas in the Outlet Mall before the company closed at this location in November. He observed the fiscal decline that the mall has faced in recent years. 

“The Outlet Mall is the only true shopping mall in the city,” he said. “Since COVID hit, it seems that people don't go out as much and would rather shop online for the convenience.”

Woodman’s purchasing the mall marks a significant chapter in the Oshkosh Outlet Mall's history, which has seen a revolving door of ownership in the past few years. Woodman’s now stands as the third owner of the property in just four years, highlighting the instability and financial challenges that the mall has faced over time. To Anoria Zdanovec, a part-time manager at Maurices in the Outlet Mall, this most recent change in ownership was predictable. 

“I was not surprised because I know the mall’s been up for sale for some time,” she said.

Despite the Outlet Mall’s record of rapid ownership turnover in the past few years, Zdanovec believes that Woodman’s acquisition of the shopping center will be a long-term solution due to the success of the company at other locations. She appreciates the new owner’s pledge to keep the mall’s current operation model intact.

“I don’t think it will affect my job because we are going to move or stay where we are,” she said. “Our store will be run by the same people.”

The mall’s previous owner, BFO Factory Shoppes LLC, struggled to meet their financial obligations, falling behind on mortgage payments for four consecutive months after securing a loan of $54.7 million to fund the mall’s operations. This lapse in payments contributed to the mall's troubled financial situation, eventually leading to its sale to Woodman’s. However, Nikolas doubts that the mall’s new ownership will fix all of its financial difficulties. 

“I wouldn't be surprised if a lot more stores in the mall close with the new ownership, or not enough business revenue to keep the mall running healthy for a while,” he said. 

The decision to acquire the Oshkosh Outlet Mall is part of Woodman’s broader strategy to expand its footprint in the region without diverting from its core business model of providing high-quality food and groceries to local consumers. While the future of the mall may have been uncertain under previous ownership, Mid-American Real Estate has made clear in their press release that they plan to leave the retail space largely unchanged, allowing the existing businesses to continue operating without disruption. 

“While Woodman's Markets may identify the Outlet Mall as a potential future store location, we would like to emphasize that there are no plans at this time for redevelopment or termination of any leases,” they said. “To the contrary, we are in the process of extending some leases, developing programming for the upcoming holiday season and refining a campaign to attract new tenancies.”

This decision has brought a sense of relief to many in the area who feared that the mall might be repurposed for something entirely different, such as a massive retail complex or even a new supermarket. Zdanovec believes that Woodman’s management strategy will be beneficial for the Oshkosh community.

“The mall allows me to have a job I love with people I love and it allows people to come and shop not just in Appleton,” she said.

The acquisition also raises questions about the future of other outlet malls in the area, and whether the retail landscape in Oshkosh will continue to evolve as rapidly as it has in recent years. However, for now, the Oshkosh Outlet Mall's status as a shopping destination remains secure, as the press statement from the new owners affirmed.

“The current tenants can expect uninterrupted service and support as we maintain the mall's operations in a first-class manner,” they said. “Mid-America Real Estate is dedicated to fostering a thriving retail atmosphere, and we look forward to working closely with Woshkosh LLC and the local community to achieve this goal.”

by Chenchua Vang and Sonya Xiong

Published December 2nd, 2024

Oshkosh West Index Volume 121 Issue III