It’s been a busy summer of real estate acquisitions for the Shannon Waltchack Investments Team. Our retail fund, SW Neighborhood Centers II (SWNC II) closed on two back to back deals in separate markets, Brandon, FL and Evanston, IL.
Our team is constantly sourcing deals across the country, connecting with brokers and visiting new markets. We are excited to deepen our portfolio into two thriving markets where we have nearby investments – Chicago and Tampa. Read more about each deal below.
Church Street Plaza
900–950 Church Street, Evanston, IL
Church Street Plaza is a 9,459 SF multi-tenant retail center located on the ground floor of a mixed-use building in Evanston, IL.
Church Street Plaza is fully-leased and well-positioned in the downtown Evanston historic district, located just steps from the CTA and Metra Rail Davis Street train stations. Each station sees over 3,400 passengers per day. The CTA also features two bus stops within 500 feet of the property, giving tenants excellent visibility and high daytime foot traffic. This asset benefits from exceptional demographics. The asset is located about a half mile from Northwestern University, which is home to over 30,000 students and faculty.
We are excited to add Church Street Plaza to the SWNC II portfolio. With its great tenant lineup, strong demographics, and location near a major transit hub, this center will continue to serve the Evanston community well.
Andrew Patterson, CCIM, CPM, President & Partner
Classic Village
1403-1419 W Brandon Blvd, Brandon, FL 33511
Classic Village, an 11,085 SF multi-tenant retail center located in Brandon, Florida. Classic Village is 100% leased to four service-based tenants. This property was acquired as part of Shannon Waltchack’s private retail fund “SWNeighborhood Centers II” (SWNC II).
The property is well-positioned on a major thoroughfare – 72,000 vehicles per day, as well as strong demographics within a 1-mile ring, including 16,217 daytime employees.
Shannon Waltchack’s first neighborhood fund, SWNC I, owns another neighborhood retail center in the area, Brandon Lakes Plaza, located ¾ of a mile from Classic Village.
Tampa is a highly-coveted market, where we are always looking to expand. With four successful deals in the region, we would love to invest in more properties in the area.
Tyler Hose, VP of Investments
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.
