Red Bank-based First National Realty Partners has acquired Shaker Towne Center, a 123,197-square-foot, grocery-anchored shopping center in Cleveland.
The shopping center is 95.7% occupied and anchored by Heinen’s, 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,” Matt Annibale, senior director of acquisitions at First National Realty Partners, said.
“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.”
First National Realty Partners is a leading vertically integrated real estate investment firm focused on acquiring institutional quality commercial real estate throughout the United States.