Poco Loco is the second grocery chain to confirm its entry into the South Waco market. Natural Grocers has leased the former CVS Pharmacy building at the corner of New Road and Valley Mills Drive for an organic and natural products store. Due to renovations planned there, the opening will be postponed until next year.

Natural Grocers claims to be the largest family-owned organic and natural food chain in the United States and has 169 stores in 21 states.

Poco Loco already has a local presence, operating stores at 25th Street and Bosque Boulevard, in an area where Hispanic-owned businesses are thriving. Waco real estate agent Gregg Glime, who opened Poco Loco in Waco Square, said in an email that there is “quite a bit of construction” going on in Waco Square, including for the new Poco Loco, so he couldn’t predict an opening date.

“We’re anticipating sometime in mid to late 2025,” Glime wrote. “Opening a grocery store on this block of Valley Mills Drive will only add momentum to this part of town. El Mar Seafood is doing great, the new Jorge’s Restaurant is a blast, and we look forward to continuing to add more great businesses in the heart of Waco.”

Poco Loco opened its North Waco store in 2021 after transforming a chronically vacant 35,000-square-foot building near Provident Heights Elementary School.

Waco Square, once home to a low-budget movie theater, shares a parking lot with Waco Commons, whose tenants include Tractor Supply Co., Canales Furniture, Planet Fitness and CSL Plasma. Waco Commons recently changed ownership and was acquired by Dallas-based real estate investment group Merritt Capital Partners Ltd. The deal was brokered by Waco broker Will Phipps.

Founded in 1999 by Marshall Merritt and Joe Merritt, Merritt Capital Partners, according to its website, “specializes in the acquisition, management, leasing and disposition of commercial real estate,” with a focus on acquiring properties occupied by high-profile tenants in Texas and surrounding states.

Phipps declined to disclose a sales price, but said the McLennan Central Appraisal District values ​​the 12,000-square-foot center on 4.6 acres at nearly $9 million for tax purposes. Phipps said the center is fully leased.

Local real estate agent Randy Reid represented the seller in the transaction.

“I sold it to Johnson Family Shopping Center LLC about eight years ago,” Reid said. “At the end of June of this year, we sold it to some investors from Dallas. I represented the owners and Will Phipps represented the buyers. The sellers felt it was time to sell and move on to other things.”

The deal included the Franklin Avenue commercial strip where Firehouse Subs and Brident Dental & Orthodontics operate.

“There have been very few vacancies over the years,” Reid said. “The last tenant to move in was Canales Furniture. We’ve renewed leases with Planet Fitness and Tractor Supply and have also done several exterior renovations over the years.”

Phipps predicted that the new owner, Merritt Capital Partners, will make further improvements to the mall in the future.