Redbank, NJ — First National Realty Partners, LLC. (FNRP), a vertically integrated, privately held real estate investment company and family of real estate funds, announced the acquisition of the 90,267 square foot grocery-anchored neighborhood retail center, Kimberly Crossing for a purchase price of $12,250,000.
Kimberly Crossing is a well located, internet resistant, grocery- anchored neighborhood shopping center located at 2100 E. Kimberly Road, Davenport, Iowa 52807. Kimberly Crossing is 98% occupied and more than 94% of the tenants are national tenants. The asset was built in 1980 and redeveloped from 2016 to 2017.
Key tenants at the center include Fresh Thyme, Planet Fitness, Dollar General, Qdoba, Salon Centric, Vision 4 Less and many more.
“We think this asset has a great tenant synergy and is well located in the market. We plan on acquiring more assets in this market and serving the community for many years to come,” said Chris Palermo, Co-Founder and Managing Principal.
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