Prudent Growth Partners, LLC has completed its $6.1 million acquisition of the South Memorial Plaza in Tulsa, OK.
CHAPEL HILL, N.C., Nov. 20, 2023 /PRNewswire-PRWeb/ -- Prudent Growth Partners, LLC, a private equity real estate firm with locations in Chapel Hill and Charlotte, NC, has completed its $6.1 million purchase of the South Memorial Plaza, a 48,288 square foot multi-tenant shopping center located in Tulsa, Oklahoma. This represents PGP's first property acquisition in Oklahoma.
Built in 2006, South Memorial's modern design and outstanding location make it an attractive investment. With several e-commerce-resistant tenants, the center is shadow-anchored by a strong-performing Walmart and is currently 87% occupied, which offers a combination of current cash flow stability.
The property is strategically located in a central retail corridor in Tulsa, Oklahoma. Positioned on Memorial Drive, just south of State Route 364, South Memorial Plaza accesses a busy commuter and commercial corridor between major Tulsa suburbs and the booming downtown area. The immediate retail landscape is home to regional draws like Costco, Lowe's, and Home Goods. Other nearby retailers include Chipotle, Aldi, Chick-Fil-A, CVS Pharmacy, Walgreen's, The UPS Store, Jersey Mike's Subs, and Sonic Drive-In.
"We're thrilled about the South Memorial Plaza and our first purchase in Oklahoma. We look forward to the performance of this property, given its great location and proximity within Tulsa. It is a strong acquisition for our investors and a great 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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