First National Realty Partners (FNRP), a Red Bank, New Jersey-based institutional real estate investment firm, has acquired a 60,896-square-foot single-tenant ShopRite located at 1121 Jerusalem Avenue in Uniondale, New York. The property was acquired in a brokered transaction.
The store is located off Jerusalem Avenue and near the Meadowbrook Parkway and shares a two-tenant center with Walmart.
“The site captures the essence of our focus on acquiring well-located properties with tenants that are essential businesses that serve daily needs, are internet-resistant and are established members of their respective communities,” said Christopher Palermo, managing principal at FNRP. “The First National team is excited to be a part of the Uniondale community, and we look forward to working with Shoprite and other local stakeholders to ensure the continued success at this location.”
FNRP is an active, opportunistic and value-add investment firm that is equipped to operate in all facets of the real estate acquisition process as investor, developer and asset manager of commercial investment properties.