SWNC III, Shannon Waltchack’s third investment fund, proudly announces its first acquisition in the Piedmont Triad MSA with the purchase of Southside Square, an 80,240 SF neighborhood retail center comprised of five separate buildings.
Southside Square is situated at the high-traffic intersection of US-421/Salem Parkway and South Main Street in the Winston-Salem submarket of Kernersville, NC. It is poised to become a cornerstone asset in SWNC III’s expanding portfolio. The property benefits from the surrounding robust retail hub, shadow-anchored by major retailers including Target, Walmart Supercenter, Lowe’s, and Food Lion. This area draws significant traffic, serving a combined 58,000 vehicles per day.
“We are thrilled to add this iconic location to our portfolio. For over 35 years, this site has been the central hub for shopping in Kernersville, starting with K-mart in 1988 and continuing with Target in 2002. As the Piedmont Triad has grown by over 60% since 2000, we are excited to capitalize on this growth and continue to serve the evolving needs of our community.” said SW Partner Derek Waltchack.
The SW Investment team enjoyed working with Jacob Baruch, Daniel Baruch and Ari Warshaw of Legacy Realty Group on this transaction.
Southside Square is Shannon Waltchack’s second transaction in North Carolina, joining Meridian Place, a 28,850 SF shopping center in Asheville, which was acquired for SWNC I.
SWNC III (SW Neighborhood Centers III, LLC), is an affiliate of Birmingham-based commercial real estate firm Shannon Waltchack. SWNC III 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. Southside Square is the third addition to the SWNC III portfolio, alongside Tequesta Square in Jupiter, FL and The Vintage Center in Houston, TX.
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].
