Wedgewood Square Shopping Center is a 54,200-square-foot neighborhood retail center situated on 4.65 acres in southwest Fort Worth, Texas. Offered at an attractive basis of approximately $66 per square foot, the property presents a compelling value-add investment opportunity through the lease-up of existing vacancy, the repositioning of underutilized space, and the continued mark-to-market rent growth of below-market in-place rents. The center’s flexible suite configuration and neighborhood-serving layout provide ownership with multiple leasing strategies capable of materially increasing occupancy and long-term cash flow.
The property is anchored by a freestanding Crazy Hot Deals and is complemented by a diverse mix of service-oriented retailers, restaurants, and community-based tenants that generate recurring neighborhood traffic. Combined with excellent visibility along Altamesa Boulevard, abundant parking, and an established operating history, Wedgewood Square provides investors with the opportunity to create significant value while acquiring a well-located retail asset at a basis that would be difficult to replicate in today’s construction environment.
Wedgewood Square Shopping Center is strategically located along Altamesa Boulevard in one of southwest Fort Worth’s established residential submarkets characterized by stable population density, strong neighborhood demographics, and consistent consumer demand for daily-needs retail. The property benefits from exceptional accessibility and visibility near the intersection of Altamesa Boulevard and McCart Avenue, where combined traffic counts exceed 65,000 vehicles per day, providing excellent exposure to both local residents and commuter traffic.
EXCEPTIONAL BASIS WELL BELOW REPLACEMENT COST
Priced at approximately $66 per square foot, Wedgewood Square can be purchased for a fraction of today’s replacement cost, providing investors with a significant margin of safety while creating substantial upside through repositioning and lease-up.
SIGNIFICANT LEASE-UP & CASH FLOW OPPORTUNITY
Currently 56% occupied, the center offers immediate upside through the absorption of approximately 23,600 square feet of vacancy. The combination of existing vacancy, below-market occupancy costs, and flexible suite sizes provides multiple avenues for increasing NOI.
EMBEDDED MARK-TO-MARKET RENT GROWTH
Existing in-place rents average approximately $4.98 per square foot, substantially below comparable neighborhood shopping centers in the surrounding market. As leases roll and vacant space is leased, ownership has the opportunity to materially increase rental revenue.
ESTABLISHED NEIGHBORHOOD RETAIL CENTER
The property has operated as a neighborhood shopping center for decades and serves a dense residential trade area with a mix of service, retail, restaurant, and community-oriented tenants. Multiple suite configurations provide flexibility to accommodate a broad range of future users.
POSITIONED FOR LONG-TERM CORRIDOR GROWTH
Located near the intersection of Altamesa Boulevard and McCart Avenue, the property benefits from approximately 66,000 combined vehicles per day, surrounding schools, dense multifamily housing, and nearby H-E-B-owned land that is expected to drive additional retail investment into the corridor.
