Tuesday, June 25, 2024
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First National Realty Acquires New Centre

The commercial real estate firm First National Realty Partners (FNRP) has acquired a Jewel-Osco-anchored property in Illinois.

The company has closed on Townes Crossing, a 105,731sq ft shopping centre located in Oswego, a village just outside of Aurora. Townes Crossing is anchored by a 65,000sq ft Jewel-Osco store, which has been a tenant at the centre for over 30 years. Jewel-Osco is joined by daily-needs retailers including Phenix Salon Suites, Oswego Dental, The UPS Store and Subway.

“Townes Crossing is a testament to strong competitive positioning, with tenants boasting a weighted average tenure at the property exceeding 25 years,” said Matt Annibale, Vice President of Acquisitions at FNRP. “The centre is situated in a neighbourhood trade area and we believe is poised to benefit from continued migration to Kendall County.”

“Townes Crossing marks our fourth off-market acquisition in 2024,” said Mike Hazinski, Chief Investment officer at FNRP. “This off-market activity is a testament to FNRP’s platform as our team continues to be one of the most active acquirers of grocery-anchored retail in the country.”