First National Realty Partners acquires first shopping center in Nebraska

Red Bank-based investment firm purchases The Shoppes at Grayhawk in Omaha

First National Realty Partners LLC said it recently added the Shoppes at Grayhawk in Omaha, Nebraska, to its rapidly growing shopping center portfolio. This 221,000-square-foot asset marks the Red Bank-based firm’s first acquisition in the Nebraska market, as it continues its strategic nationwide expansion targeting premier open-air retail centers in primary and key secondary markets.

Located at 14455-14615 W. Maple Road, the Shoppes at Grayhawk is anchored by a 140,000-square-foot Lowe’s home improvement store. A tenant at the center for 20 years, Lowe’s is the second-largest hardware chain in the world and operates or services more than 2,200 home improvement and hardware stores throughout the U.S. and Canada. The Shoppes at Grayhawk tenant roster also includes Michaels, Dollar Tree, Chipotle, Jimmy John’s and First Watch.

“The Shoppes at Grayhawk offered an outstanding opportunity for FNRP to establish a presence in Nebraska,” said Stephen Joseph, director of acquisitions. “With its proximity to Nebraska’s largest city, this destination for daily essentials is a perfect fit for our portfolio. The center contains approximately 5,000 square feet of available space, offering significant upside potential by way of increased occupancy and cash flow.”

Situated in a densely populated retail corridor approximately 12 miles west of downtown Omaha, the Shoppes at Grayhawk is strategically located along the region’s dominant east-west thoroughfare. The center serves a population of nearly 180,000 — with an average household income of $100,000 — within a five-mile radius of the property.

The deal was brokered by Ben Snyder and Zack Bates from Matthews Real Estate Investment Services, who represented the seller in the Shoppes at Grayhawk transaction.