PGP has completed its $9.9 million acquisition of Dollar Tree Plaza in Charlotte, NC.
CHAPEL HILL, N.C., Oct. 31, 2024 /PRNewswire-PRWeb/ -- Prudent Growth Partners, LLC, a private equity real estate firm with offices in Chapel Hill and Charlotte, NC, has completed its $9.9 million purchase of Dollar Tree Plaza, a 51,412 square foot multi-tenant shopping center located in Charlotte, North Carolina.
Built in 1984 and renovated in 2023, the property's modern design and strategic location make it an attractive investment. It features a sought-after combination of national and local tenants, complementary businesses, and promising upside from potential mark-to-market leasing opportunities.
Dollar Tree Plaza is strategically located in a major retail corridor in Charlotte, North Carolina. It is positioned off Albemarle Road and Central Avenue, two significant thoroughfares, and Highway 74/Independence Boulevard. The center accesses a busy commuter and commercial corridor between major Charlotte neighborhoods and the booming downtown area. The center is anchored by Dollar Tree and Chuck E. Cheese, both of which have operated successfully for over 20 years. The immediate retail landscape is home to regional draws like Aldi, Zips Car Wash, Firestone Complete Auto Care, Sherwin Williams, Rooms to Go, Ross Dress For Less, Food Lion, and US Foods Chefstore.
"We are happy about the purchase of Dollar Tree Plaza and look forward to how this property will perform. The center has a good location and is in a visible and active area of the Charlotte metro. It is another solid acquisition in North Carolina for our investors and a wonderful 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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