Chapel Hill based Prudent Growth Partners has acquired the Lawyers Square shopping center in Mint Hill, NC for $6.4 million. This is its second acquisition in the Charlotte MSA this year.
CHAPEL HILL, N.C. (PRWEB) NOVEMBER 21, 2019
Prudent Growth Partners, LLC, a Chapel Hill, NC based private equity real estate firm, has completed its acquisition of the Lawyers Square neighborhood retail center, a 54,000 square foot Dollar General anchored shopping center in the rapidly growing Charlotte suburb of Mint Hill. The transaction price was $6.4 million, with $2.3 million raised from its equity investors to complete the purchase.
Lawyers Square, located at 9229 Lawyers Square Road at the intersection of Lawyers Road and Wilson Grove Road, has many popular local tenants, including Dollar General, Cor-Fitness Martial Arts, Pizza Hut, Dunamis Church, and several popular restaurants.
"This is exactly the kind of neighborhood center we like to own," said Tom Hahn, President of PGP. "It is well established, nearby residents all support it, and it should benefit from the continued growth in the area. We are planning some nice updates and improvements to the property in the coming months."
Prudent Growth Partners, based in Chapel Hill, NC, acquires neighborhood retail centers, office buildings, and garden style apartment communities. "We are keen to acquire more properties like Lawyers Square, which are in great communities with internet-resistant tenants," said Hahn.
Prudent Growth has had a busy fall, with recent transactions in Zebulon, NC, Savannah, GA, Florence, KY, and Mooresville, NC.
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 which provide exceptional returns on invested capital along with the possibility of longer-term capital gains achieved by expert management and future price appreciation.