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Prudent Growth Purchases Hoover Court Shopping Center in Alabama


PGP has completed its $6.85 million acquisition of the Hoover Court Shopping Center in Hoover, AL.

CHAPEL HILL, N.C., Oct. 24, 2023 /PRNewswire-PRWeb/ -- Prudent Growth Partners, LLC, a private equity real estate firm with locations in Chapel Hill and Charlotte, NC, has completed its $6.85 million purchase of Hoover Court, a 50,245 square-foot multi-tenant shopping center located in Hoover, Alabama.

"We are thrilled about Hoover Court and our third acquisition in the Hoover, AL area. Given its Publix shadow position and location within an active business community, we are confident about this center's performance." - Tom Hahn, President of Prudent Growth Partners

Built in 1995, the property is situated along U.S. Highway 31, which runs parallel to Interstate 65. The center is in a hub of traffic strategically shadow-anchored by a thriving Publix and is located in the heart of Hoover within the Birmingham MSA. Hoover Court is currently 100% occupied with a diverse e-commerce resistant base of tenants and offers a combination of current cash flow stability.

Hoover Court accesses a busy commuter and commercial corridor between central Birmingham suburbs ? Homewood, Vestavia Hills, and Hoover ? and the burgeoning downtown area. A significant retail node around Riverchase Galleria, just to the south, is home to regional draws like T.J.Maxx and HomeGoods, Burlington, Macy's, Walmart, Academy Sports, Dick's, Von Maur, Target, Whole Foods, Field & Stream, The Home Depot, Costco, Sam's Club and more.

"We are thrilled about Hoover Court and our third acquisition in the Hoover, AL area. Given its Publix shadow position and location within an active business community, we are confident about this center's performance. It is a great purchase for our investors and a nice addition to our portfolio," said Tom Hahn, President of Prudent Growth Partners.

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 provide exceptional returns on invested capital along with the possibility of longer-term capital gains achieved by expert management and future price appreciation.

Media Contact
Tom Hahn, Prudent Growth Partners, LLC, 919-280-5641, [email protected], https://www.prudentgrowth.com/

SOURCE Prudent Growth Partners, LLC


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