Commercial Real Estate firm Shannon Waltchack acquired a 46,619-square-foot shopping center Borgata Neighborhood Center in Midland – the seventh acquisition in SW’s latest fund, SW Neighborhood Centers II, which is focused on acquiring neighborhood centers in target markets throughout the country, according to a press release.
This is Shannon Waltchack’s first deal in the Lone Star State.
Borgata Neighborhood Center is located at Loop 250 and Holiday Hill Road. The center has 15 retail suites with established, long-term leases in place, the press release stated. The tenants are service-oriented businesses, including restaurant, medical and educational users. The center was built in 2015, allowing for three separate drive-thrus for quick service restaurant tenants. Tenants include Little Woodrow’s, Tea2Go, Jamba Juice, Urban Glo Blow Dry Bar, Texas Sun Winery, CycleBar and Don Tomas Café.
A listing at loopnet.com updated on June 20 showed a sales price of $18.15 million. Shannon Waltchack’s press release didn’t show a purchase price.
“We are excited to add Borgata Neighborhood Center to the SWNC II portfolio. With its great
tenant line-up, strong demographics, and location near a major highway, this center will
continue to serve the Midland community well,” said President and Partner Andrew Patterson in the press release.
