215 S 2nd St
Waco, TX 76701
River Square Center · Retail Property For Sale

JLL is pleased to offer qualified investors the opportunity to purchase River Square, a 92,087 SF mixed-use, office and retail complex located in Waco, TX. Originally constructed in 1906, the center features 65,856 SF of first- and second-story retail space and 26,231 SF of third-story office space. The property is currently 76.4% occupied by 9 tenants and anchored by Spice Village, a local clothing and décor boutique, who recently signed a five-year lease extension. Additional retailers at the center include popular local bars, restaurants and shopping that are frequently trafficked by employees working downtown and tourists. The center benefits from the recent revitalization of downtown Waco aided by the emergence of Magnolia Market, which is frequented by over 1.6M visitors annually and only a short walk away. Additional demand drivers located nearby include the Waco Convention Center, Waco Downtown Farmers Market and Baylor University (over 16,000 students). The neighborhood enjoys easy accessibility via I-35 and I-84 in addition to the Waco Trolley, which provides free public transportation. In order to accommodate the increased tourist demand, an Embassy Suites was recently constructed behind the center, in addition to two new 9,000 SF retail developments that are fully leased. River Square Center provides investors with a unique opportunity to acquire an iconic local mixed-use asset surrounded by flourishing local demand drivers with solid in-place cash flow and value-add potential.