Prudent Growth Partners acquires Meadow Lake Business Park in Hoover, AL
CHAPEL HILL, North Carolina, June 3, 2022 /PRNewswire-PRWeb/ — Prudent Growth Partners, LLC, a Chapel Hill, North Carolina private equity based real estate company, has completed its $4.5 million acquisition of Meadow Lake Business Park, a 34,661 square foot multi-tenant retail/office center located at 3004 and 4000 Meadow Lake Drive in Hoover, AL.
Built in 1991, the property benefits from a strong group of diverse and e-commerce resilient tenants in a prime location and is positioned to capitalize on the growth of the surrounding region. The current tenant lineup includes a diverse mix of medical, office, retail and service tenants with individual storefront signage, front door access and an abundance of parking.
The property is located in the Town of Hooveralong the US Highway 280 submarket, which is from Birmingham largest and fastest growing suburban shopping area. Meadow Lake Business Park is adjacent to the master-planned 175-acre Meadow Brook Office Park, comprised of over 500,000 square feet of Class A office buildings.
“The purchase of Meadow Lake Business Park in Alabama is exciting for PGP and our investors. It is in a great location and current occupancy should provide stable cash flow with long term benefit,” said Tom Hahn, Chairman of Prudent Growth Partners. “We believe this is another good acquisition as we continue to expand our portfolio.”
Prudent Growth Partners, LLC is a private equity real estate investment firm based in Chapel Hill, North Carolina. The company focuses on properties that tend to be overlooked by large institutions and that offer exceptional returns on invested capital as well as the possibility of longer-term capital gains realized through expert management and future price appreciation. .
Tom HahnPrudent Growth Partners, LLC, (919) 280-5641, email@example.com
SOURCE Prudent Growth Partners, LLC