Prudent Growth Purchases Sugarloaf Village in Georgia
Prudent Growth Partners, LLC, a private equity real estate firm based in Chapel Hill and Charlotte, NC, has completed its $7.25 million acquisition of Sugarloaf Village, a 32,000-square-foot shopping center located in Lawrenceville, Georgia.
Built in 2008, the property’s contemporary design and prime location within a thriving retail corridor make it an exceptional addition to the Prudent Growth portfolio. Sugarloaf represents a compelling opportunity to own a well-maintained retail asset in a thriving suburb of Atlanta, with 17 tenants offering staggered lease expirations and including a healthy mix of lifestyle businesses and service providers. The center has been well maintained, and no significant deferred maintenance needs exist.
Sugarloaf Village is strategically positioned on the corner of Old Norcross Rd. and Sugarloaf Pkwy, which boasts 43,900 vehicles per day. The property is a 45-minute drive from Atlanta, and is located in Lawrenceville, the county seat of Georgia’s second most populated county. The area has two public colleges: Gwinnett Technical College and Georgia Gwinnett, and the immediate retail vicinity is home to significant retail draws, including AT&T, Starbucks, Publix, Target, Marshalls, Aldi, Home Depot, Petsmart, Hobby Lobby, and Panera Bread.
“We are excited to add Sugarloaf Village to our ever-growing portfolio of quality retail properties. Lawrenceville is a vibrant and expanding market, and we see tremendous potential in this center’s location, tenant mix, and community presence. This acquisition aligns perfectly with our investment strategy, and we look forward to enhancing the property’s value while supporting the continued growth and success of the surrounding area,” said Tom Hahn, President of Prudent Growth Partners, LLC.
Prudent Growth Partners, LLC is a private equity real estate investment company based in Chapel Hill, NC. The firm focuses on properties that tend to be overlooked by larger institutions and provide exceptional returns on invested capital, along with the possibility of longer-term capital gains achieved by expert management and future price appreciation.