Red Bank investment firm buys Illinois shopping center

A Red Bank-based real estate investment firm has acquired a shopping center in Illinois, it announced this week.

First National Realty Partners said in a news release that the 59,939-square-foot Lemont Village Square center is anchored by a 17,875-square-foot Aldi and located at East 127th Street and State Street in Lemont. The center is 96% occupied, First National Realty Partners said.

“We are very pleased to add Lemont Village Square to our portfolio,” Matt Annibale, director of acquisitions, said in a prepared statement. “Grocery-anchored properties such as this have performed extremely well throughout the pandemic and remain a top priority for our growing portfolio. I believe that this deal is a prime example of our team’s ability to perform and execute as a buyer even through challenging times.”

Financial terms were not disclosed.