- May 11, 2024
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by: Suzanne Echols
Marketing Director, Shannon Waltchack
Commercial Real Estate firm Shannon Waltchack acquired 26,652 square-foot shopping center South Forty Plaza in Ormond Beach — the latest acquisition in SW’s second fund, SW Neighborhood Centers II, which is focused on acquiring neighborhood centers in target markets throughout the Southeast and Midwest.
South Forty Plaza is located at the high traffic intersection of West Granada Boulevard and Clyde Morris Boulevard, serving over 52,000 vehicles per day. The center is occupied with a diverse mix of tenants, including residential real estate services, financial advising, pet services, restaurants, nutrition, nail spa, printing services and custom blinds.
“We are excited to join the Daytona Beach market and look forward to increasing our portfolio expansion throughout Florida,” Director of Investments Tyler Hose said.
SWNC II has built strong relationships throughout Florida, with deals in the pipeline in Tampa, Orlando, St. Petersburg, Largo and more. Since closing in March 2021, SWNC II has secured two other properties in Birmingham, Alabama, and Mount Pleasant, Wisconsin. SWNC II has multiple deals currently under contract, and the team is actively seeking additional properties for its portfolio.
There are still opportunities to invest in SWNC II. Investors interested in learning more about SWNC II opportunities should contact Hose at [email protected]. Brokers with neighborhood center acquisition opportunities should contact SW 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.
