FNRP Enhances Portfolio with Strategic North Carolina Investment
REIDSVILLE, N.C., Dec. 18, 2024 /PRNewswire/ -- First National Realty Partners (FNRP), a leading national private equity commercial real estate firm, has successfully acquired Freeway Crossing, an 88,647 square-foot grocery-anchored shopping center in Reidsville, North Carolina. This addition marks the firm's third acquisition in the state.
"We are excited to add Freeway Crossing to our portfolio," said Stuart Brackenridge, VP, Acquisitions at FNRP. "This acquisition strengthens our footprint in the Carolinas and positions us for continued growth."
Freeway Crossing is anchored by a 39,708 square-foot Lowes Foods store. A tenant at the center for nearly 30 years, Lowes Foods recently completed a significant renovation to the interior and exterior of its store. The center also features a diverse mix of popular retailers including Dollar Tree, Hibbett Sports, CATO, Workout Anytime, and Papa Johns.
Strategically positioned within the Greensboro Metropolitan Statistical Area (MSA), Freeway Crossing benefits from excellent visibility along US 29, a major corridor with more than 17,250 vehicles per day. Located just 20 miles from Downtown Greensboro, the center is a retail hub for the surrounding trade area.
"Freeway Crossing is a well-established neighborhood center with a high-performing grocer and excellent positioning within its market," said Brackenridge. "Its long-term stability and growth potential make it an excellent addition to our portfolio."
Addison Montague with Berkley Capital Advisors represented the seller in this transaction.
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.
About First National Realty Partners
FNRP provides accredited investors with access to institutional quality commercial real estate, specializing in necessity-based real estate nationwide: grocery-anchored retail, multifamily, and industrial. From acquisition to disposition, FNRP oversees the entire investment lifecycle through its in-house vertically integrated platform, leveraging top talent in legal, acquisitions, leasing, and other key areas.
For more information, visit .
Contact:
Jessica DeMarino
[email protected]
SOURCE First National Realty Partners, LLC
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