RED BANK, N.J., Aug. 5, 2021 /PRNewswire/ -- First National Realty Partners (FNRP) is pleased to announce the acquisition of Shaker Towne Center, a grocery-anchored shopping center located at 16611 Chagrin Boulevard, Shaker Heights (Cleveland), OH. Shaker Towne Center is a market dominant 123,197 SF shopping center that is 95.7% occupied and anchored by a 41,822 SF Heinen's Grocery Store, a high-end grocery chain based in Cleveland. The property is located approximately 7.5 miles southeast 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 add Heinen's to our portfolio and further expand our presence in the Cleveland market", said Matt Annibale, Senior Director of Acquisitions at First National Realty Partners. "Heinen's is joined here by an impressive lineup of internet-resistant and daily needs tenants including Dollar Tree, Subway, Boston Market and a brand-new Ace Hardware which 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.