#USA #Chester #Prudent Growth #River Forest #Chester VA

Prudent Growth Partners Completes Sale of The Shoppes at River Forest

Prudent Growth Partners, a private equity real estate firm located in Chapel Hill, North Carolina, announced the recent sale of The Shoppes at River Forest, a retail strip center situated in Chester, Virginia. This 30,070-square-foot property, originally constructed in 2007, occupies a strategic position along Iron Bridge Road (also known as VA Route 10) and spans across 3.65 acres. Notably, it is shadow anchored by Walmart's Supercenter, which is recognized as the second highest performing outlet in the region.

The Shoppes at River Forest was sold for a total of $8,875,000, translating to approximately $295 per square foot. At the point of sale, the property boasted an impressive 95% occupancy rate, housing 12 tenants that include recognizable names such as GameStop, Sweet Frog, State Farm, and the U.S. Marine Corps. Leading the negotiations during the sale was Catharine Spangler from Cushman Wakefield | Thalhimer’s Capital Markets Group.

Tom Hahn, the President and CEO of Prudent Growth Partners, expressed his enthusiasm regarding the successful sale, remarking, "We are thrilled with the successful sale of The Shoppes at River Forest and are proud of the growth this asset achieved under our management. We wish the new ownership all the best in the days ahead." This sentiment reflects the firm’s commitment to enhancing property value through meticulous management and adept investment strategies.

Prudent Growth Partners is distinguished by its focus on investments in properties often overlooked by larger institutional investors, aiming to generate substantial returns on invested capital. This strategy is complemented by their long-term vision for capital gains stemming from thorough property management and future appreciation of property values.

The firm operates under a full-service commercial property management outfit, Prudent Growth Operations, LLC, which emphasizes personalized service aimed at fostering success and delivering significant value to residents, tenants, and investors alike.

The transaction not only highlights a successful investment exit for Prudent Growth Partners but also underscores the ongoing demand for retail space in well-located areas, especially those with robust tenant mixes. Moving forward, the firm will continue to pursue similar investment opportunities that align with their strategic objectives, seeking to capitalize on emerging market trends within the commercial real estate landscape.

As the commercial real estate market evolves, the focus on securing profitable investment opportunities remains critical for firms like Prudent Growth Partners, who leverage expert management practices to maximize asset potential and ensure sustained growth over time.