First National Realty Partners Expands Grocery-Anchored Center Portfolio in New Jersey

N.J.-based Funding Agency Acquires Eagle Plaza in Voorhees

VOORHEES, N.J., Could 17, 2022 /PRNewswire-PRWeb/ — Vertically built-in actual property funding agency First Nationwide Realty Companions, LLC (FNRP) in the present day introduced the addition of Eagle Plaza in Voorhees to its quickly increasing portfolio. This 227,000-square-foot asset marks the Pink Financial institution, N.J.-based agency’s fourth grocery-anchored buying heart acquisition in New Jersey.

Positioned at 700 Haddonfield-Berlin Highway, the market-dominant open-air heart is anchored by a 66,500-square-foot Acme grocery retailer. A tenant on the website since 1981, Acme is a subsidiary of Albertsons, the second largest grocery chain in North America with over 2,250 shops. Eagle Plaza’s tenant roster additionally contains a robust mixture of nationwide and regional retailers and repair suppliers, together with Ross, Wine Warehouse, Mattress Agency, T-Cell, Chipotle, H&R Block, Allstate, Sherwin Williams, and South Jersey Federal Credit score Union.

Eagle Plaza is positioned in a densely populated retail hall roughly 15 miles east of downtown Philadelphia. The property is located alongside the area’s dominant north-south thoroughfare, which sees mixed visitors of over 45,000 autos a day. With proximity to Philadelphia and several other of its prosperous suburbs, Voorhees Township boasts a inhabitants of over 80,000 – with a mean family earnings of over $120,000 – inside a three-mile radius.

“Eagle Plaza is a necessary neighborhood buying vacation spot that provides an impressive alternative for FNRP to develop our footprint within the New Jersey market,” mentioned Matt Annibale, senior director of acquisitions. “With a extremely prosperous demographic and proximity to Philadelphia, Voorhees is an ideal match for our portfolio. And the roughly 67,800 sq. toes of obtainable house gives vital upside potential by means of elevated occupancy and money circulation.”

Annibale famous that the acquisition aligns with FNRP’s strategic nationwide enlargement focusing on premier grocery-anchored retail facilities in major and key secondary markets. The agency’s New Jersey buying heart portfolio additionally consists of Acme Commons in Bordentown, Crestwood Village in Manchester Township, The Court docket at Hamilton in Hamilton, and Vineland Retail Middle in Vineland.

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Brad Nathanson of Marcus & Millichap IPA represented the vendor within the Eagle Plaza transaction.

FNRP’s mission is to supply on a regular basis accredited buyers with entry to actual property property that historically have been out there solely to institutional buyers. Specializing in grocery-anchored, necessity-based retail product, the agency sources alternatives each on and off-market nationwide. From acquisition to disposition, FRNP oversees your entire funding lifecycle 100% in-house, leveraging prime expertise in authorized, acquisitions, leasing, and different key areas to make sure its properties obtain most worth and companions notice distinctive, risk-adjusted returns.

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About First Nationwide Realty Companions, LLC
151 Bodman Place, Suite 201, Pink Financial institution, NJ 07701

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Emma Ackel, Caryl Communications, 2017967788, emma@caryl.com

SOURCE First Nationwide Realty Companions