{"id":1004607095,"date":"2022-10-17T03:40:03","date_gmt":"2022-10-17T11:40:03","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004607095"},"modified":"2022-12-08T20:21:47","modified_gmt":"2022-12-09T04:21:47","slug":"first-national-realty-partners-acquires-grocery-anchored-centers","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/first-national-realty-partners-acquires-grocery-anchored-centers\/","title":{"rendered":"First National Realty Partners Acquires Grocery-Anchored Retail Centers"},"content":{"rendered":"
\"River<\/a>

River City Marketplace. Image courtesy of First National Realty Partners LLC<\/p><\/div>\n

In separate transactions, First National Realty Partners<\/strong> LLC has acquired two grocery-anchored shopping centers: The 287,000-square-foot Promenade at Manassas, in Manassas, Va., and the 158,000-square-foot River City Marketplace in O\u2019Fallon, Mo. The prices and seller(s) were not disclosed.<\/p>\n

Promenade at Manassas is co-anchored by an approximately 107,000-square-foot Home Depot, which has been a tenant at the center since it was completed in 1995, and by a new 43,000-square-foot local international grocer, Oh! Market. Promenade at Manassas\u2019 tenants also include Ashley Home Furniture, Planet Fitness, The Tile Shop and Sherwin Williams. The center is 97.1 percent occupied.<\/p>\n

\n

READ ALSO<\/strong>: Retail Real Estate\u2019s Post-COVID Reinvention<\/a><\/p>\n

\n

FNRP highlighted that the location, about 30 miles west of Washington, D.C., at Interstate 66 and Sudley Road, serves a population of nearly 179,000 people with a 5-mile radius, with average household incomes exceeding $122,000.<\/p>\n

Ryan Sciullo of CBRE<\/strong> represented the seller of Promenade at Manassas.<\/p>\n

\"Promenade<\/a>

Promenade at Manassas. Image courtesy of First National Realty Partners LLC<\/p><\/div>\n

River City Marketplace is anchored by a 31,000-square-foot Fresh Thyme Market, with other tenants including Total Wine, Ross, Five Below, Kirkland\u2019s and Kay Jewelers. The center is 92 percent occupied.<\/p>\n

In a prepared statement, Stephen Joseph, FNRP\u2019s director of acquisitions, noted that St. Charles County is one of Missouri\u2019s wealthiest counties, and O\u2019Fallon is one of state\u2019s fastest-growing communities, having quadrupled in population since 1990.<\/p>\n

Evan Halkias, David Matheis and Link Dierks of Cushman & Wakefield<\/strong> represented the seller.<\/p>\n

Groceries to go<\/h2>\n

In a 2022 retail outlook, Kelly Evans, CBRE managing director for Retail Occupier Solutions, highlighted the trend of retailers becoming more-active players in the supply chain, for example by further expanding curbside pick-up that grocers pursued starting in the pandemic.<\/p>\n

The CBRE outlook noted that grocery-anchored centers attracted $5 billion in investment activity in the U.S. in the third quarter of 2021, a near-record amount over the last decade.<\/p>\n

CBRE predicts that \u201cgrocery-anchored centers will remain the gold standard of retail investment amid favorable supply-demand dynamics and attractive pricing on a risk-adjusted basis.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

These assets, in Northern Virginia and metro St. Louis, total 445,000 square feet. <\/p>\n","protected":false},"author":882,"featured_media":1004607104,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22251,21783,11,21742,21749],"tags":[32789,32799],"class_list":["post-1004607095","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-in-focus","category-investment","category-midatlantic","category-latest","category-retail","tag-cbre","tag-cushman-wakefield"],"acf":[],"yoast_head":"\nFirst National Realty Partners Acquires Grocery-Anchored Retail Centers - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"First National Realty has acquired two shopping centers: Promenade at Manassas, in Manassas, Va., and River City Marketplace in O\u2019Fallon, Mo.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/first-national-realty-partners-acquires-grocery-anchored-centers\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"First National Realty Partners Acquires Grocery-Anchored Retail Centers\" \/>\n<meta property=\"og:description\" content=\"First National Realty has acquired two shopping centers: Promenade at Manassas, in Manassas, Va., and River City Marketplace in O\u2019Fallon, Mo.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/first-national-realty-partners-acquires-grocery-anchored-centers\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2022-10-17T11:40:03+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T04:21:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/River-City-Marketplace.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"802\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/first-national-realty-partners-acquires-grocery-anchored-centers\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/first-national-realty-partners-acquires-grocery-anchored-centers\/\",\"name\":\"First National Realty Partners Acquires Grocery-Anchored Retail Centers - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/first-national-realty-partners-acquires-grocery-anchored-centers\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/first-national-realty-partners-acquires-grocery-anchored-centers\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/River-City-Marketplace.jpg\",\"datePublished\":\"2022-10-17T11:40:03+00:00\",\"dateModified\":\"2022-12-09T04:21:47+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555\"},\"description\":\"First National Realty has acquired two shopping centers: Promenade at Manassas, in Manassas, Va., and River City Marketplace in O\u2019Fallon, Mo.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/first-national-realty-partners-acquires-grocery-anchored-centers\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/first-national-realty-partners-acquires-grocery-anchored-centers\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/first-national-realty-partners-acquires-grocery-anchored-centers\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/River-City-Marketplace.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/River-City-Marketplace.jpg\",\"width\":802,\"height\":600,\"caption\":\"River City Marketplace. 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