First National Realty Partners, the Red Bank-based real estate investment firm, has acquired a grocery-anchored shopping center in Georgia, it announced this week.
City Center Crossing, at 6331 Roswell Road, Sandy Spring, is a 98,408-square-foot center that is anchored by a 27,858-square-foot Lidl Supermarket that opened in May 2020. The center, approximately 16 miles north of downtown Atlanta, is 77% occupied.
“We are extremely excited to not only acquire our first asset in the Atlanta market, but to also add Lidl to our portfolio, one of the most rapidly growing grocers in the country,” Matt Annibale, senior director of acquisitions, said in a prepared statement. “The remaining vacancy in the center will provide significant upside for our investors.”
Financial terms of the deal were not disclosed.