SW Neighborhood Centers III (SWNC III), Shannon Waltchack’s third investment fund, proudly announces its latest acquisition, Raceway Market Shops, a 26,000 SF neighborhood retail center located in the Avon suburb of Indianapolis, IN.
Raceway Market Shops consists of two adjacent multi-tenant retail strip centers and is currently 100% leased to eight retail tenants including Outback, Five Guys, McAlister’s Deli, AT&T, and Davita Dialysis. The property is located within the Avon retail corridor, which stretches roughly four miles west to the intersection of North Avon Avenue and Rockville Road, which serves 38,000 vehicles per day.
“Raceway’s prime location along a major retail thoroughfare perfectly aligns with our fund’s investment criteria. Our focus remains on identifying quality strip centers like Raceway in high-growth markets, and we are eager to continue our work with brokers across the country to achieve this goal,” said SW Acquisitions Manager Jonathan Kahalley.
The SW Investment team enjoyed working with Doug Aronson of SLN Capital Markets Group on this transaction.
Raceway Market Shops is Shannon Waltchack’s third acquisition in Indianapolis, joining two similar assets in SW Neighborhood Centers II— Keystone Shoppes, a 36,603 square foot retail center and Greenwood Springs, a 28,000 square foot retail center.
SWNC III, is an affiliate of Birmingham-based commercial real estate firm Shannon Waltchack. SWNC III remains focused on acquiring properties occupied by service-oriented tenants in dense, affluent communities. The preferred tenant mix is necessity-focused businesses, such as medical, restaurants and salons, which provide resilience against internet retailers. Raceway Market Shops is the fourth addition to the SWNC III portfolio, alongside Tequesta Square in Jupiter, FL; The Vintage Center in Houston, TX; and Southside Square in Kernersville, NC (Winston-Salem MSA).
The SW Investment team is continually pursuing deals in growing communities throughout the country. Brokers with neighborhood center acquisition opportunities should contact Derek Waltchack at [email protected].
