Prudent Growth Partners, LLC, a Chapel Hill, NC based private equity real estate firm, has completed a $2.1 million transaction to purchase a 24,000 industrial flex building in Fuquay-Varina, NC.
The building is fully leased with several established local businesses, including All My Sons Moving and Triangle Tile & Marble.
"We continue to be attracted to the southern Wake County areas, such as Fuquay-Varina,” said Tom Hahn, President of PGP. "This property really made sense to us from a long-term growth standpoint, and is located less than 3 miles from a future I-540 interchange between Garner and Fuquay."
Prudent Growth Partners, based in Chapel Hill, NC, acquires garden style apartment communities, typically with 75 to 200 apartments, as well as neighborhood retail centers and office buildings.
"As our economy continues to exhibit an emphasis on online ordering and last-mile logistics, warehouse flex space is in huge demand - especially those with mult-tenant spaces," said Hahn. "We see lots of upside for well-located buildings like this one in the future."
Prudent Growth Partners, LLC is a private equity real estate investment company based in Chapel Hill, NC. PGP's focus is on properties that tend to be overlooked by larger institutions and which provide exceptional returns on invested capital along with the possibility of longer-term capital gains achieved by expert management and future price appreciation.