Shannon Waltchack Neighborhood Centers, III (SWNC III) is pleased to announce the acquisition of a 21,000 SF neighborhood retail center in the heart of Lubbock, Texas. The single-story, multi-tenant property features a dynamic mix of eight tenants, including Nothing Bundt Cakes, The Little Gym, Mi Tierra Taqueria, and Elegant Nails. Situated on 2.0 acres in southwest Lubbock, the center is directly adjacent to the prestigious Lakeridge Country Club and surrounded by affluent, fast-growing residential communities.
“Lubbock is a dynamic growth market that fits squarely within our investment strategy,” said Derek Waltchack, Partner at Shannon Waltchack. “We’re confident in Texas Tech’s long-term role as an economic driver for the region. With its high visibility and close proximity to affluent neighborhoods, this center is a strong strategic addition to our portfolio.”
Shops at Covenant Health exemplifies the type of necessity-based retail properties that Shannon Waltchack targets—centers that deliver daily services in growing markets along high-traffic corridors. Lubbock is the principal city in the Lubbock Metropolitan Statistical Area (MSA), home to approximately 325,000 residents. As a key regional hub for healthcare, education, and commerce in West Texas, the city benefits from a consistently expanding population, robust employment, and steady demand for retail services.
The SW Investment team enjoyed working with landlord representative broker Ryan Bowlby, Senior Director at Institutional Property Advisors and Marcus & Millichap on this transaction.
SWNC III is an affiliate of Birmingham-based commercial real estate firm Shannon Waltchack and 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. Shops at Covenant Health is the sixth addition to the SWNC III portfolio, alongside Tequesta Square in Jupiter, FL; The Vintage Center in Houston, TX; Southside Square in Kernersville, NC; Draper Town Square in Draper, UT; and Shops at Leander in Leander, TX. Shops at Covenant Health is Shannon Waltchack’s fourth transaction in Texas.
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].
