Eagle Plaza is an essential neighborhood shopping destination that provides an exceptional opportunity for FNRP to expand our footprint in the New Jersey market.
VOORHEES, NJ (PRWEB)
May 17, 2022
Vertically integrated real estate investment company First National Real Estate Partners, LLC (FNRP) today announced the addition of Eagle Plaza at Voorhees to its growing portfolio. The 227,000 square foot asset marks the fourth acquisition of a grocery-anchored mall by the Red Bank, New Jersey, New Jersey-based company.
Located at 700 Haddonfield-Berlin Road, the open-air center overlooking the market is anchored by a 66,500 square foot Acme grocery store. Tenant of the site since 1981, Acme is a subsidiary of Albertsons, the second largest grocery chain in North America with more than 2,250 stores. Eagle Plaza’s roster of tenants also includes a strong mix of national and regional retailers and service providers, including Ross, Wine Warehouse, Mattress Firm, T-Mobile, Chipotle, H&R Block, Allstate, Sherwin Williams and South Jersey Federal. CreditUnion.
Eagle Plaza is located in a densely populated commercial corridor approximately 15 miles east of downtown Philadelphia. The property is located along the region’s dominant north-south thoroughfare, which sees a combined traffic of over 45,000 vehicles per day. Close to Philadelphia and many of its affluent suburbs, Voorhees Township has a population of over 80,000, with an average household income of over $120,000, within a three-mile radius.
“Eagle Plaza is an essential neighborhood shopping destination that provides an exceptional opportunity for FNRP to expand our footprint in the New Jersey market,” said Matt Annibale, Senior Director of Acquisitions. “With a very affluent population and proximity to Philadelphia, Voorhees is a perfect fit for our portfolio and the approximately 67,800 square feet of available space offers significant growth potential through increased occupancy and traffic flow. Treasury.
Annibale noted that the purchase aligns with FNRP’s strategic national expansion targeting major grocery-anchored retail hubs in key primary and secondary markets. The Company’s shopping center portfolio in New Jersey also includes Acme Commons in Bordentown, Crestwood Village in Manchester Township, The Court in Hamilton in Hamilton and Vineland Retail Center in Vineland.
Brad Nathanson of Marcus & Millichap IPA represented the seller in the Eagle Plaza transaction.
FNRP’s mission is to provide everyday accredited investors with access to real estate assets that have traditionally only been available to institutional investors. Specializing in grocery-rooted retail staples, the company seeks both in-market and out-of-market opportunities nationwide. From acquisition to divestiture, FRNP oversees the entire investment lifecycle 100% in-house, leveraging top talent in legal, acquisitions, leasing and other key areas to ensure s to ensure that its properties achieve maximum value and that partners realize exceptional risk-adjusted returns.
About First National Realty Partners, LLC
151 Bodman Place, Suite 201, Red Bank, NJ 07701
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