First National Realty Partners nabs grocery-anchored shopping center

Ohio property is 95.7% occupied

Linda Lindner//August 6, 2021//

Ohio property is 95.7% occupied

Linda Lindner//August 6, 2021//

Listen to this article

Shaker Towne Center, Ohio. – FIRST NATIONAL REALTY PARTNERS

Red Bank-based First National Realty Partners (FNRP) said Aug. 5 that it acquired Shaker Towne Center, a grocery-anchored shopping center located in Shaker Heights (Cleveland), Ohio.

The market-dominant, 123,197-square-foot shopping center is 95.7% occupied and anchored by a 41,822-square-foot 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.”