Prudent Growth Expands to Florida with Purchase of Wells Landing in Orange Park

Prudent Growth Partners, LLC, a private equity real estate firm with locations in Chapel Hill and Charlotte, NC, has completed its $3.2 million purchase of the Shoppes at Wells Landing, a 25,569 square-foot multi-tenant shopping center located in Orange Park, FL. This represents PGP’s first property acquisition in Florida.

Built in 1985, Shoppes at Wells Landing is in a hub of traffic just 20 minutes south of Downtown Jacksonville. With a diverse e-commerce resistant base of tenants and a desirable, busy location, the center has high occupancy and offers a combination of current cash flow stability.

The property is strategically located in the main retail corridor in Orange Park where it accesses a busy commuter and commercial corridor between major Jacksonville suburbs and the booming downtown area. A significant retail node around Orange Park Mall, just to the west, is home to regional draws like Dick’s Sporting Goods, Dillard’s, AMC Theaters, and Belk. Other nearby retailers include At Home, Petsmart, The Home Depot, Publix, T.J. Maxx, Best Buy, and Sam’s Club.

"We’re excited about the Shoppes at Wells Landing and our first purchase in Florida. We look forward to the performance of this property, given its location and proximity to Downtown Jacksonville. It is another 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.