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HomeReal EstateFirst National Realty Partners Acquires Illinois Retail Center

First National Realty Partners Acquires Illinois Retail Center

First National Realty Partners Acquires Illinois Retail Center

OSWEGO, Ill.  , May 21, 2024 /PRNewswire/ — First National Realty Partners (FNRP), a leading national private equity firm specializing in commercial real estate, closed on Townes Crossing, a 105,731-square-foot shopping center located in affluent Oswego, Illinois. This off-market acquisition solidifies FNRP’s presence in Illinois and exemplifies its expertise in sourcing exclusive opportunities through leveraging its relationships.

Townes Crossing is anchored by a 65,000-square-foot Jewel-Osco grocery store, a subsidiary of Albertsons. A tenant at the center for over 30 years, it is the top grocer by market share in the Chicago MSA, according to Axios Chicago. Jewel-Osco is joined by daily-needs retailers including Phenix Salon Suites, Oswego Dental, The UPS Store, and Subway.

“Townes Crossing is a testament to strong competitive positioning, with tenants boasting a weighted average tenure at the property exceeding 25 years,” said Matt Annibale, vice president of acquisitions. “The center is situated in a neighborhood trade area, and we believe is poised to benefit from continued migration to Kendall County.”

Located 45 miles west of downtown Chicago at the intersection of Douglas Road and US-30, the center sees over 54,000 vehicles per day. Within a 5-mile radius, the population exceeds 220,000 people with average household incomes of over $124,000.

“Townes Crossing marks our fourth off-market acquisition in 2024. This off-market activity is a testament to FNRP’s platform as our team continues to be one of the most active acquirers of grocery-anchored retail in the country,” commented Mike Hazinski, chief investment officer.

Evan Halkias of Cushman & Wakefield represented the seller in this transaction.

FNRP provides accredited investors with access to institutional quality commercial real estate assets specializing in necessity-based real estate: grocery-anchored retail, multifamily, and industrial and sourcing opportunities both on and off-market nationwide. From acquisition to disposition, FNRP oversees the entire investment lifecycle 100% in-house, leveraging top talent in legal, acquisitions, leasing, and other key areas. For more information, visit www.fnrpusa.com.

Disclaimer: An investment in commercial real estate is subject to risk, including the risk that all of your investment may be lost. Any representations concerning investing in commercial real estate, including, without limitation, representations as to stability, diversification, security, resistance to inflation and any other representations as to the merits of investing in commercial real estate reflect our belief concerning the representations and may or may not come to be realized. Cash distributions are not guaranteed.

Jessica DeMarino
[email protected]

SOURCE First National Realty Partners, LLC

Originally published at https://www.prnewswire.com/news-releases/first-national-realty-partners-acquires-illinois-retail-center-302151488.html
Images courtesy of https://pixabay.com

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