Commercial real estate firm Shannon Waltchack (SW) Neighborhood Center II fund purchased its first Texas property. The Birmingham, Alabama-centered group has made seven acquisitions with the help of the fund.
The 46,000 square foot Borgata Neighborhood Center in Midland, has 15 retail suites with established, long-term leases in place. SW’s Andrew Patterson says the 7 year-old center ticks all the boxes, “With its great tenant lineup, strong demographics, and location near a major highway, this center will continue to serve the Midland community well.”
The strategy behind the fund is focused on a preferred tenant mix of necessity-focused businesses , such as dentists, restaurants and insurance, which provide resilience against internet retailers.
Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.