Prudent Growth Partners has acquired Hartsville, South Carolina-based Hartsville Crossing, a retail property. The purchase price is $8.5 million.
CHAPEL HILL, N.C. (PRWEB) MAY 03, 2022
Prudent Growth Partners, LLC, a Chapel Hill, NC based private equity real estate firm, has completed its $8.5 million acquisition of Hartsville Crossing located at 1150 South 4th Street in Hartsville, SC.
Built in 2001, the property boasts a proven operating history with a diverse tenant base and strong occupancy record. The property also experiences high traffic along a main road and a group of e-commerce resistant tenants, including several popular restaurants.
The property is shadow-anchored by a strong-performing Walmart Supercenter that has been there for 20 years and draws from a trade area of over 30 miles.
“We are delighted with the purchase of Hartsville Crossing in South Carolina. We like the location and shadow presence of a prolific Walmart,” said Tom Hahn, President of Prudent Growth Partners. “We believe this is another good acquisition for PGP and our investors as we carry on expansion throughout the southeast.”
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.