Prudent Growth Purchases Kinnamon Village in North Carolina

By Georgio Salas.
Updated Apr 6, 2023

CHAPEL HILL, N.C. (PRWEB) April 06, 2023 - Prudent Growth Partners, LLC, a private equity real estate firm with locations in Chapel Hill and Charlotte, NC, has completed its $8.4 million purchase of Kinnamon Village, a 64,143 square foot multi-tenant shopping center located at 4380 Kinnamon Village Loop in Clemmons, NC (part of the Winston-Salem, NC MSA).

Built in 2007, Kinnamon Village boasts a strong group of e-commerce-resistant tenants and is anchored by a high-performing Food Lion. With a diverse tenant base and a desirable, high-traffic location, the property is currently 89% occupied and features 12 tenants that include a healthy mix of grocery, restaurant, retail, health, beauty, and service-oriented businesses.

The center is strategically located off I-40, the main thoroughfare of Winston-Salem, boasting over 61,000 vehicles per day. Other nearby anchor retailers include Publix, Walmart, Big Lots, and Lowes Foods. The immediate trade area contains many other local and national tenants, including CVS, Subway, Goodwill, Autozone, Chick-fil-A, Starbucks, and others.

'We are thrilled about the purchase of Kinnamon Village in Clemmons. It is our first Food Lion-anchored center and were excited about the performance of this asset in the fifth most populous city in North Carolina,' said Tom Hahn, President of Prudent Growth Partners. 'We believe this is another strong acquisition for our investors and a great addition to our portfolio.'

Prudent Growth Partners, LLC is a private equity real estate investment company with locations in Chapel Hill and Charlotte, 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.