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Prudent Growth Partners Acquires Suffolk Shopping Center for $8M
Private equity real estate investment firm Prudent Growth Partners has acquired Riverfront Shoppes, a 35,500-square-foot shopping center in Suffolk, VA. The sales price was $8.4 million. The seller was not disclosed.
Built in 2016, the center is located on Harbor View Blvd. and is across the street from the Riverfront Golf Club. Tenants at the center include Fresenius Kidney Care, Taste Unlimited, Decent People Tap Room & Brewery, Virginia ABC Package Store, State Farm, Savor the Olive, Coastal Styling Studio, Med-Care Health Link, Amanda Stewart Photography and F.I.T. 10 Performance gym.
“We could not be happier about this acquisition, and we were equally pleased with the demand for this deal from our investor base,” said Tom Hahn, president at Prudent Growth Partners. “The tenants were mostly able to continue operating during the COVID shutdowns, and it is encouraging to see how well supported they have been by the local community – as our first post-COVID retail buy, that is obviously important to us.”
For comments, questions or concerns, please contact David Cohen
- ◦Sale/Acquisition
