Prudent Growth Partners has acquired the Patriot Square shopping mall in Cordova, Tennessee. The purchase price is $4.75 million.
CHAPEL HILL, N.C. (PRWEB) MARCH 17, 2022
Prudent Growth Partners, LLC, a Chapel Hill, NC based private equity real estate firm, has completed its $4.75 million acquisition of the 51,000 square foot Patriot Square shopping center, located at 815, 819 and 823 Exocet Drive, Cordova, TN (Memphis MSA).
Built in 1997, the property boasts a strong group of e-commerce resistant tenants, including several popular restaurants.
The property is strategically located along N. Germantown Pkwy (59,000 VPD), which serves as the major retail corridor for the Cordova market. The immediate trade area is host to a wide variety of investment-grade and national tenants.
“We think that this is a great purchase for PGP and our investors,” said Tom Hahn, President of Prudent Growth Partners. “We have been expanding throughout the southeast and continue to be very interested in adding more properties in Tennessee.”
The property will be managed by Prudent Growth Operations, an affiliated management company of Prudent Growth.
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.
Prudent Growth Operations, LLC is a full service commercial property management company with a hands-on approach to serving our properties. Our team of professionals has one goal in mind: to create success and value in everything we do for our residents, tenants and investors.