Shannon Waltchack Neighborhood Centers IV (SWNC IV) has expanded its national footprint with the acquisition of Superstition Springs Plaza, a 12,068-square-foot neighborhood retail center located at 6736 E. Baseline Road in Mesa, Arizona. The acquisition marks the fund’s first investment in the state of Arizona, further advancing its strategy of acquiring high-quality, unanchored neighborhood shopping centers in growing markets across the country.
Currently 86.5% occupied, Superstition Springs Plaza is strategically positioned near the intersection of Baseline Road and Power Road, one of Mesa’s primary retail corridors. The property benefits from excellent visibility, strong traffic counts, and proximity to the U.S. 60 freeway, serving one of the Phoenix metropolitan area’s most established and rapidly growing trade areas.
The addition of Superstition Springs Plaza further strengthens SWNC IV’s portfolio of service-oriented retail assets designed to meet the everyday needs of surrounding communities.
“We’re thrilled to finally enter Arizona,” said Derek Waltchack, Partner at Shannon Waltchack. “Looking back, I only wish we’d started pursuing opportunities here five years ago, but we’re here now and looking for more. The Phoenix metro continues to experience exceptional growth, and Mesa has become one of the region’s most dynamic submarkets. Superstition Springs Plaza offers a strong mix of service-oriented tenants in a well-established retail corridor, making it an excellent long-term addition to our portfolio.”
Waltchack added, “Jesse Goldsmith and the Newmark team were outstanding partners throughout the transaction. Their market knowledge and professionalism helped make this a smooth and successful acquisition.”ong-term addition to our portfolio.”
The acquisition reinforces Shannon Waltchack’s continued focus on acquiring neighborhood retail centers that feature necessity-based and service-oriented tenants. With deep experience in owning and operating unanchored retail centers nationwide, the firm continues to identify opportunities in markets demonstrating strong demographic trends, population growth, and long-term economic resilience.
Watch the acquisition video: Superstition Springs Plaza Acquisition Video
