Fountain Hills, AZ (Aug. 12, 2024) – First National Realty Partners (FNRP), a leading national private equity commercial real estate firm, announced the acquisition of Fountain Hills Plaza, a 111,284-square-foot shopping center located in the affluent community of Fountain Hills, Arizona. This marks the firm’s second acquisition in the state and continues its national expansion efforts.
“Fountain Hills Plaza is an excellent addition to our Phoenix portfolio,” said Mike Hazinski, Chief Investment Officer at FNRP. “The shopping center is located in a captive and growing trade area, which we are confident positions the asset for long-term success.”
Fountain Hills Plaza boasts a 90% occupancy rate and is anchored by Bashas’, an affiliate of Raley’s Supermarket with an operating history of over 30 years at this location. The center features complementary retailers including Ace Hardware, AutoZone, H&R Block, Verizon, and Great Clips. This overall necessity-based retail shopping center is an excellent fit for the surrounding Fountain Hills community.
“Fountain Hills Plaza perfectly complements our retail-anchored portfolio with its diverse tenant base and strategic location in a high-growth area. This acquisition aligns with our commitment to expanding our footprint in key markets,” commented Hazinski.
The center is located 30 miles northeast of the Phoenix Central Business District. Fountain Hills Plaza is situated in a high-income neighborhood trade area where the average household income exceeds $145,000 within a 3-mile radius and the population is projected to grow by over 8% in the next five years.
Patrick Dempsey of JLL represented the seller in this transaction.
FNRP provides accredited investors with access to institutional quality commercial real estate assets specializing in necessity-based real estate: grocery-anchored retail, multifamily, and industrial and sourcing opportunities both on and off-market nationwide. From acquisition to disposition, FNRP oversees the entire investment lifecycle 100% in-house, leveraging top talent in legal, acquisitions, leasing, and other key areas. For more information, visit www.fnrpusa.com.
Disclaimer: An investment in commercial real estate is subject to risk, including the risk that all of your investment may be lost. Any representations concerning investing in commercial real estate, including, without limitation, representations as to stability, diversification, security, resistance to inflation and any other representations as to the merits of investing in commercial real estate reflect our belief concerning the representations and may or may not come to be realized. Cash distributions are not guaranteed.
###
Contact:
Jessica DeMarino
For all media inquiries,
Contact:
NOTICE: An investment in commercial real estate is subject to risk, including the risk that all of your investment may be lost. Any representations concerning investing in commercial real estate; to include representations as to stability, diversification, security, resistance to inflation and any other representations as to the merits of investing in commercial real estate reflect our belief concerning the representations and may or may not come to be realized. *Cash distributions are not guaranteed. Any offer of a security may be made to accredited investors only pursuant to Rule 506(c) of the U.S. Securities Act of 1933, as amended (the “Act”), by an authorized representative by delivery of a complete copy of an offering memorandum including all exhibits. By using this website, accessing any material contained on this website, registering, requesting a password, or by clicking a “submit” button or the like, I hereby acknowledge, agree and warrant, under penalty of law, that (1) I am an “accredited investor” as defined by Rule 501(a) of the Act; (2) I can provide the required documentation to establish my status as an accredited investor and (2) my typed name on the electronic registration form, if submitted, is my electronic signature and is the legally binding equivalent to my manual handwritten signature.
The information contained herein, including text, graphics, images and information, is general in nature and is for informational and illustration purposes only.
FNRP makes no representations or warranties of any nature whatsoever regarding any tax matters, including, without limitation, the ability of an investor to invest in FNRP with its specific self-directed IRA vehicle. The investor should independently obtain advice from his or her own independent legal counsel and/or tax accountant and/or IRA servicer regarding any such investment and the tax benefits and burdens associated with same.
*All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them. Any product names, logos, brands, and other trademarks or images featured or referred to within are the property of their respective trademark holders. None of the trademark holders are affiliated with FNRP.
Copyright ©2025. FNRP. All Rights Reserved
