First National Realty Partners expands grocery-anchored center portfolio in Illinois

First National Realty Partners on Monday announced the addition of Maple Park Place in Bolingbrook, Illinois, to its rapidly expanding portfolio. This 212,000-square-foot asset marks the Red Bank-based firm’s second grocery-anchored shopping center acquisition in Illinois.

Maple Park Place is anchored by a 23,000-square-foot Aldi grocery store as well as a 44,000-square-foot Burlington and 32,000-square-foot Best Buy. A tenant since 2018, Aldi is a privately-owned, German-based discount supermarket brand with over 2,000 locations across 36 states and 11,000 stores globally. The center’s lifestyle-focused tenant mix also features national and regional retailers and service providers, including Advanced Auto Parts, Dollar Tree, Meineke, Benjamin Moore and X-Sport Fitness.

“Maple Park Place is an essential neighborhood shopping destination that offers an outstanding opportunity for FNRP to expand our footprint in the Chicago area,” Matt Annibale, senior director of acquisitions, stated. “With its strong tenant mix and outstanding regional demographics, this property is well positioned to perform for years to come. Also, the remaining 13,000 square feet of vacant space provides significant upside potential by way of increased occupancy and cash flow.”

Annibale noted that the purchase aligns with FNRP’s strategic nationwide expansion targeting premier grocery-anchored retail centers in primary and key secondary markets. The firm’s Illinois retail shopping center portfolio also includes Lemont Village Square in Lemont.

Located in a densely populated, highly affluent suburb, Maple Park Place is situated approximately 33 miles west of downtown Chicago and in proximity to the Interstate 355 and Interstate 55 interchange, which provides convenient regional access to downtown.

Rick Drogosz of Mid-America Real Estate Group represented the seller in the Maple Park Place transaction.