Prudent Growth Acquires Cleveland Corners in Tennessee

Prudent Growth Partners, LLC, a Chapel Hill, NC based private equity real estate firm, has completed its $8.1 million acquisition of Cleveland Corners, a neighborhood shopping center located at 850 25th Street NW in Cleveland, TN.

Built in 1969, the property boasts a strong group of diverse, e-commerce-resistant tenants including several prominent national retailers. The current lineup features 13 businesses including Checkers, Regions Bank, a new Dollar Tree, and thriving retailers like Big Lots! and Tuesday Morning.

The property is located at a high-traffic intersection with excellent visibility and is nestled in a dense suburban pocket with a population of 73,829. The immediate area is also host to a number of other national retailers, including Ace Hardware, Dollar General, Wendy’s, Cookout, Smoothie King, and more.

"We are thrilled about the purchase of Cleveland Corners and another acquisition in Tennessee. The property has been well maintained and is in a great location," said Tom Hahn, President of Prudent Growth Partners. "We believe this is another good addition for our investors and portfolio."

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 which provide exceptional returns on invested capital along with the possibility of longer-term capital gains achieved by expert management and future price appreciation.