Prudent Growth Partners has acquired an industrial park in Fayetteville, North Carolina. The purchase price was $5.5 million.
CHAPEL HILL, N.C. (PRWEB) DECEMBER 21, 2020
Prudent Growth Partners, LLC, a Chapel Hill, NC based private equity real estate firm, has completed its $5.5 million acquisition of a 65,000 square foot industrial park located at 1211 Ireland Drive, Fayetteville, NC.
The Ireland Drive buildings are located along the busy Raeford Road retail corridor in Fayetteville, just south of the Raeford Road, Ireland Drive intersection. The buildings are nearly 100% leased to strong mix of local and national tenants.
“We think that this is another great industrial purchase for PGP,” said Tom Hahn, President of Prudent Growth Partners. “This is a really well-maintained property and we are looking forward to quickly completing some improvements to the site, including some paving and exterior updates.”
The acquisition follows several recent multi-family purchases by PGP.
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.