Prudent Growth Partners LLC, a North Carolina-based private equity real estate firm, has completed its $5.75 million acquisition of Baker Cypress Marketplace, a 47,364-square-foot retail center in Houston.
Baker Cypress enjoys 94% occupancy, featuring 10 tenants with staggered lease expirations. The center is shadow anchored by Planet Fitness, and other tenants include a mix of lifestyle business and service providers.
The company said the property has been well-maintained by the previous ownership, and there are no significant deferred maintenance needs.
Tom Hahn, president and CEO of Prudent Growth Partners LLC, stated, “We are thrilled with the purchase of Baker Cypress Marketplace that represents exactly the kind of well-positioned, community-serving retail asset we seek. Its prime location in Houston, which continues to demonstrate strong population growth and economic resilience, meets the everyday needs of the community while creating long-term value for our investors and tenants.”
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