RED BANK, N.J., June 21, 2021 /PRNewswire/ -- First National Realty Partners (FNRP) is pleased to announce the acquisition of Cedar Center South, a grocery-anchored shopping center located at 13908-13998 Cedar Road, University Heights, OH. Cedar Center South is a 138,881 SF, 91% occupied, market-dominant shopping center that features a 45,282 SF Whole Foods. The property is located approximately 9 miles east of downtown Cleveland and adds a secure and growing income stream to FNRP's rapidly growing portfolio of premier real estate assets throughout the United States.
"We are very excited to be adding another high-performing Whole Foods-Anchored Center to the portfolio," said Matt Annibale, Director of Acquisitions at First National Realty Partners. "Cedar Center South is located in a dense, high income suburb of Cleveland and is co-anchored by high-quality, essential, daily needs tenants including CVS, Dollar Tree, and Boston Market. The stable in-place cash flows coupled with the potential to increase value through lease-up of the remaining vacancies makes this a very attractive acquisition for FNRP and our Investors."
First National Realty Partners, LLC (FNRP) is a leading vertically integrated real estate investment firm focused on acquiring institutional quality commercial real estate throughout the United States. The firm is an active, opportunistic, and value-add investment firm that is equipped to operate in all facets of the real estate acquisition process as an investor, developer, and asset manager of commercial real estate. FNRP enhances the value of properties through hands-on management and targeted investments that result in superior, risk-adjusted returns for its investors.