Shannon Waltchack is pleased to announce the acquisition of Draper Town Square, a 31,280-square-foot retail shopping center located in Draper, Utah. This purchase marks a significant addition to the company’s growing SWNC III portfolio and reinforces our commitment to investing in high-quality retail assets in dynamic markets.
Situated approximately 20 miles south of Salt Lake City, Draper is a thriving suburban city that spans two Metropolitan Statistical Areas: Salt Lake City MSA and Provo MSA. These regions collectively house a population of 2.81 million residents, making it a prime location for retail and commercial growth.
Draper Town Square is strategically positioned along 12300 South, a major east-west retail corridor in Draper that experiences approximately 40,300 vehicles per day. The property is currently 100% leased to a diverse mix of 15 national and regional tenants, including Sherwin-Williams, Papa Murphy’s, State Farm, and Quest Diagnostics. Nearby national retailers include Smith’s, Kohl’s, and Sephora, alongside popular quick-service restaurants such as Chick-fil-A, McDonald’s, and In-N-Out Burger, further solidifying the property’s prime retail positioning.
“We’re thrilled to announce our first acquisition west of the Rockies with the addition of a premier shopping center in Salt Lake City, Utah,” said SW Partner Derek Waltchack. “This marks an exciting milestone for Shannon Waltchack as we continue to expand our footprint beyond our traditional southeastern markets. Draper Town Square represents exactly the kind of high-quality asset we look for—it’s well-located, at a signalized corner, it has been professionally maintained by the seller for decades and has already surpassed our initial leasing expectations. We look forward to further growth and success in this dynamic western market,” said Waltchack
The Shannon Waltchack Investment Team is actively seeking more deals similar to Draper Town Square for the SWNC III portfolio. SWNC III is Shannon Waltchack’s third fund, which is focused on acquiring unanchored neighborhood strips
This marks an exciting milestone for Shannon Waltchack as we continue to expand our footprint beyond our traditional southeastern markets.
