First National Realty Buys Grocery-Anchored Retail Center

Christina Crossing in Wilmington, Del., last traded in 2022.

Frontage of the Christina Crossing shopping center in downtown Wilmington

Christina Crossing. Image courtesy of FNRP

First National Realty Partners has acquired Christina Crossing, a 119,446-square-foot grocery-anchored shopping center in Wilmington, Del. The property marks the firm’s entry into the Delaware market. JLL represented the seller, DRA Advisors.

The property is anchored by a 68,621-square-foot ShopRite. Other tenants include Rainbow, Cricked Wireless and Wingstop. DRA Advisors purchased the asset in July 2022 in a portfolio deal, according to CommercialEdge data.

The one-story property is located at 501 S. Walnut St., just off S. Market Street, in downtown Wilmington, within an opportunity zone. The asset is less than a mile south of the Wilmington train station. According to Matt Annibale, senior director of acquisitions with FNRP, the property is adjacent to more than 80 acres of future development.

The JLL brokers that represented DRA Advisors in the transaction are James Galbally, Chris Munley and Colin Behr. In March, DRA Advisors completed the $369 million purchase of a mostly industrial portfolio in metro Chicago, in a partnership with Venture One.

You May Also Like