Shannon Waltchack acquired a 23,150 SF shopping center Gateway Plaza in Bloomingdale, IL – the sixth acquisition in SW’s latest fund, SW Neighborhood Centers II (SWNC II), which is focused on acquiring neighborhood centers in target markets throughout the Southeast and Midwest.
Gateway Plaza is located in the Village of Bloomingdale, roughly 27 miles west from Chicago, IL. The center is 100% occupied by a mix of medical, service and food tenants, including Aspen Dental, LensCrafters and McAlister’s Deli. The Property sits on the corner of West Army Trail Road (31,900 VPD) and North Gary Avenue (36,000 VPD) with excellent visibility on both roads.
“As we continue to expand our portfolio further into the Midwest, the Chicago area is a great place to invest. The market there is vibrant and steadily growing. This property is a great example of SWNC II’s strategy of acquiring neighborhood centers in dense affluent communities,” said Vice President of Investments Tyler Hose.
Since launching in March 2021, SWNC II has secured five other properties located in Birmingham, AL; Mount Pleasant, WI; Ormond Beach, FL and Largo, FL. SWNC II is actively seeking additional properties for its portfolio.
There is still a limited opportunity to invest in SWNC II. Investors interested in learning more about SWNC II opportunities should contact Tyler Hose at [email protected]. Brokers with neighborhood center acquisition opportunities should contact Partner Derek Waltchack at [email protected].
The strategy for SWNC II remains focused on acquiring properties occupied by service-oriented tenants in dense, affluent communities. The preferred tenant mix is necessity-focused businesses, such as dentists, restaurants and insurance, which provide resilience against internet retailers. These properties are located in growing cities and follow precise demographics and physical requirements.
“As we continue to expand our portfolio further into the Midwest, the Chicago area is a great place to invest. The market there is vibrant and steadily growing. This property is a great example of SWNC II’s strategy of acquiring neighborhood centers in dense affluent communities,” said Vice President of Investments Tyler Hose.
