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Prudent Growth Buys Multi-Tenant Shopping Center in Champaign
Prudent Growth Partners has completed its first acquisition in Illinois, a $5.1 million purchase of Champaign Station in Champaign.
The private equity real estate firm acquired the 21,152-square-foot multi-tenant shopping center located at 45 E University Avenue. Built in 2007, the property features a sought-after combination of restaurants, service-oriented and e-commerce-resistant tenants, and future upside from potential mark-to-market leasing opportunities.
“We are thrilled about purchasing Champaign Station in a vibrant college town like Champaign. We look forward to the center’s performance, as it is in a favorable location within driving distance of the university and other busy parts of the area,” said Tom Hahn, President of Prudent Growth Partners.
The center is strategically located in a dominant retail corridor of Champaign, IL, home to the University of Illinois Urbana-Champaign. It is positioned just off Town Center Blvd., a significant thoroughfare, and is easily accessible from Interstates 74 and 57.
