#USA #St. Louis #First National Realty #Florissant Marketplace #Florissant

First National Realty Partners Strengthens Missouri Presence

First National Realty Partners (FNRP), a prominent player in the private equity commercial real estate sector, has made a significant acquisition in the form of Florissant Marketplace. This grocery-anchored shopping center, located in Florissant, Missouri, marks FNRP's fourth grocery-centered investment in the state. With this acquisition, FNRP now boasts a total of four grocery-anchored centers in Missouri, collectively exceeding 950,000 square feet in the St. Louis Metropolitan Statistical Area (MSA).

Florissant Marketplace stands out with an impressive occupancy rate of 98%, anchored by a substantial 70,262-square-foot Schnucks grocery store. Originating in 1937, Schnucks has established itself as the leading grocer in the region, operating over 115 stores throughout the Midwest. Notably, Schnucks has been a longstanding tenant at this shopping destination for more than two decades.

The center is complemented by a variety of essential retailers, including a newly opened Crunch Fitness, Pet Supplies Plus, Wing Stop, and ATT. The current tenants have an impressive average tenure of over 11 years, ensuring stability and reliability within the shopping environment.

Stuart Brackenridge, Vice President of Acquisitions at FNRP, commented on this acquisition, stating, "Florissant Marketplace is a prime example of our ability to acquire well-located, necessity-based retail centers in markets we know well. By leveraging FNRP's national platform and local expertise, we see tremendous opportunity to enhance the center's performance."

Strategically positioned along North Lindbergh Boulevard, a busy thoroughfare located approximately 20 miles north of Downtown St. Louis, Florissant Marketplace is ideally located to attract a substantial customer base. The area experiences over 44,700 vehicles passing daily, alongside a strong demographic profile, with more than 88,000 residents living within a three-mile radius and an average household income exceeding $85,000.

Chase Young from CBRE represented the seller in this transaction, facilitating the deal that further strengthens FNRP's foothold in the Midwest market.

The implications of such an acquisition are multi-faceted. First and foremost, it emphasizes FNRP's strategic direction towards enhancing its portfolio with necessity-based retail spaces that cater to local communities. Such centers not only serve as vital shopping hubs but also contribute to the overall economic landscape, providing jobs and supporting local businesses.

FNRP, established with the objective of granting accredited investors access to top-tier commercial real estate, is known for its comprehensive management approach throughout the investment lifecycle. The company specializes in necessity-based retail across the nation, ensuring they meet the evolving needs of the communities they serve.

As FNRP continues to expand its operations, the acquisition of Florissant Marketplace stands as a testament to its commitment to strategic growth within the commercial real estate sector. Through savvy investments and a deep understanding of the market dynamics, FNRP aims to deliver sustainable value to its investors while simultaneously meeting community needs.

In conclusion, First National Realty Partners' acquisition of Florissant Marketplace reflects its strategic portfolio expansion and commitment to enhancing community-focused retail experiences. As the company develops this location, it is poised to positively impact the local economy and solidify its reputation in the commercial real estate sector.

For more information about FNRP and its strategic initiatives, visit fnrpusa.com.