CHAPEL HILL, N.C., Aug. 2, 2021 //PRNewswire-PRWeb/ -- Prudent Growth Partners, LLC, a Chapel Hill, NC based private equity real estate firm, has completed its $9.60 million acquisition of the 69,000 square foot Savannah Crossing I shopping center located at 13501 Abercorn St., Savannah, GA.
Located directly across the street from Georgia Southern University, the center is anchored by a high-performing Big Lots! retail store.
Built in 1989, Savannah Crossing I is home to many other popular businesses, including Phantom Fireworks, T-Mobile, HR Block, Subway, and Dickey's Barbecue Pit.
"We are really excited about this acquisition - our second in Georgia in the past few months - and we really like the location and growth of the area," said Tom Hahn, President of Prudent Growth Partners. "We are continuing to be active buyers in Georgia and the entire Southeast."
The acquisition was led by David Pierce, Prudent Growth's newly hired Director of Acquisitions.
"David was instrumental in getting this deal over the finish line and we are excited to have him on the team," said Hahn.
PGP also recently acquired the 32,000 square foot Shops at Turner Hill, located in Lithonia, GA in late May of 2021 and acquired the Olde Towne at Berwick shopping center, also in Savannah, in 2019.
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.
Tom Hahn, Prudent Growth Partners, LLC, (919) 280-5641, [email protected]
David Pierce, Prudent Growth Partners, LLC, (919) 625-1038, [email protected]
SOURCE Prudent Growth Partners, LLC
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