Shannon Waltchack (SW) acquired Keystone Shoppes a 36,603 SF multi-tenant neighborhood retail center located in Indianapolis, IN. This property is SWNC II’s second acquisition in Indiana – the first was Greenwood Springs, a 28,000 SF shopping center located in Greenwood, IN.
Located at 3435 East 86th Street across from the popular Fashion Mall at Keystone, Keystone Shoppes is currently 100% occupied and is located in the heart of the Keystone neighborhood, one of the most affluent areas of Indianapolis, IN. The area boasts a dense daytime population of nearly 24,000 people within a 1-mile ring and over 286,000 within a 5-mile ring. Keystone has excellent visibility along 86th Street which sees nearly 40,000 vehicles per day. The shopping center has a strong history of high occupancy, averaging over 97% over the last seven (7) years.
“Keystone Shoppes is an outstanding addition to the SWNC II portfolio. The strong tenant mix combined with its location in the most dynamic market in Indiana aligns perfectly with our investment criteria. We look forward to operating this center for years to come,” said President & Partner Andrew Patterson, CCIM, CPM.
Read more about the deal in the Indianapolis Business Journal.
Since launching in March 2021, SWNC II has acquired properties throughout the U.S., including Alabama, Wisconsin, Florida, Illinois, Indiana, and Texas. With the addition of Keystone Shoppes, SWNC II is now closed, and Shannon Waltchack is launching its third fund to continue its strategy of acquiring neighborhood centers across the country.
Brokers with neighborhood center acquisition opportunities should contact Partner Derek Waltchack at [email protected].
The strong tenant mix combined with its location in the most dynamic market in Indiana aligns perfectly with our investment criteria. - Andrew Patterson, CCIM, CPM
