Aberdeen, NJ — First National Realty Partners, LLC. (FNRP), a vertically integrated, privately held Delaware-based real estate investment company and family of real estate funds, today announced the acquisition of the Penn Hills Shopping Center, a 276,000 square foot neighborhood retail center, for a purchase price of $18 million, approximately one-fourth of replacement cost. The asset is currently 93% occupied.
The thriving neighborhood retail center located at 230 Rodi Road in Penn Hills, Pennsylvania, a suburb of Pittsburgh, was well maintained and managed by the previous owner for over 40 years. FNRP plans to install hands-on management and leasing efforts and institute a significant capital improvement program.
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About First National Realty Partners, LLC
1208 Route 34 Suite 19
Aberdeen NJ 07747
