Prudent Growth Purchases the Village Shoppes of Destin in Florida

Prudent Growth Partners, LLC, a private equity real estate firm with locations in Chapel Hill and Charlotte, NC, has completed its $8 million purchase of the Village Shoppes of Destin, a 28,834 square foot multi-tenant shopping center located in Destin, Florida.

Built in 2007, the property's modern design and strategic location make it an attractive investment. It features a combination of high-performing tenants, including a healthy mix of lifestyle businesses and recognizable brands, and future upside from potential mark-to-market leasing opportunities.

The center is strategically located in a major retail corridor in Miramar Beach, Florida, part of the Destin, Florida MSA just off Emerald Coast Parkway, a major thoroughfare in Destin. It accesses a busy commuter and commercial corridor between major Destin suburbs and beaches. The immediate retail landscape is home to regional draws like Goodwill, Whataburger, Dunkin Donuts, IHOP, Taco Bell, CVS Pharmacy, Chick-Fil-A, Five Guys, Waffle House, Nike, Silver Sands Premium Outlets, Starbucks, Carrabba’s Italian Grill, and Panera Bread. ​​

"We are very excited about the purchase of the Village Shoppes of Destin. We look forward to the performance of this property, given its great location and proximity within the coastal region of Destin and Miramar Beach. It is another strong acquisition in Florida for our investors and a great addition to our overall 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.