Jessica Perry//July 19, 2022//

First National Realty Partners’ latest addition to its portfolio makes three properties in Illinois for the expanding real estate investment firm.
FNRP said July 18 it acquired the Aldi-anchored, 212,000-square-foot Maple Park Place center in Bolingbrook, Ill. Rick Drogosz of Mid-America Real Estate Corp. represented the seller in the transaction.
In addition to the 23,000-square-foot grocer, a 44,000-square-foot Burlington and 32,000-square-foot Best Buy are also part of the tenant roster, which is rounded out by national and regional retailers and service providers, including Dollar Tree, Benjamin Moore and others.
“Maple Park Place is an essential neighborhood shopping destination that offers an outstanding opportunity for FNRP to expand our footprint in the Chicago area,” said Matt Annibale, senior director of acquisitions, in a statement. “With its strong tenant mix and outstanding regional demographics, this property is well positioned to perform for years to come.”
Annibale noted that the deal aligns with FNRP’s nationwide expansion efforts, which has targeted grocery-anchored retail centers in primary and key secondary markets.
“Also, the remaining 13,000 square feet of vacant space provides significant upside potential by way of increased occupancy and cash flow,” he added.
Located about 33 miles west of downtown Chicago, Maple Park Place is located in a “highly affluent” suburb, serving a population of more than 222,000 people with an average household income of more than $138,000 within a 5-mile radius, according to FNRP.