SW Neighborhood Centers IV (“SWNC IV”) acquired Crossroads West Shopping Center, a 37,057 square-foot neighborhood retail center located in the heart of the Waco MSA.
The acquisition marks SWNC IV’s strategy which focuses on well-located, unanchored neighborhood retail strip centers in high- visibility corridors. Crossroads West is positioned at the signalized intersection of Hewitt Drive and Highway 84, an exceptionally strong retail pocket carrying a combined 58,900 vehicles per day. The property is occupied with a diverse tenant mix that includes seventeen tenant bays including Shipley Do-Nuts, Subway, Woodway Vet, and Style Lounge.
“In a market like Waco, there are only a handful of truly irreplaceable intersections, and this is clearly one of them,” said Derek Waltchack, Partner at Shannon Waltchack. “Positioned at the corner of two major thoroughfares and directly across from one of the busiest H-E-B locations we’ve seen anywhere in Texas, the center benefits from consistent daily traffic and strong
consumer demand.”
Shannon Waltchack enjoyed working with Luke Holler and the team at Cromwell Commercial Group for their collaborative approach and local market expertise throughout the transaction process.
This acquisition further advances SWNC IV’s strategy of targeting infill and high-traffic neighborhood retail assets in growing markets across the country. “We see a meaningful opportunity to enhance the property and thoughtfully align rents with the strength of the trade area over time,” said Waltchack.
SWNC IV is an affiliate of Birmingham-based Shannon Waltchack, a vertically-integrated commercial real estate firm focused on acquiring centers anchored by service-oriented tenants in dense, affluent communities. Its preferred tenant mix includes medical providers, restaurants, and salons—businesses resilient to online competition.
Crossroads West is the first acquisition in the SWNC IV portfolio! Shannon Waltchack continues to actively pursue unanchored neighborhood strip centers in affluent communities across the United States. Brokers with opportunities are encouraged to contact Director of Acquisitions Jonathan Kahalley at [email protected].
