Fountain Hills, AZ – (June 12, 2025) — First National Realty Partners, a leading national private equity commercial real estate firm, completed major lighting upgrades at Fountain Hills Plaza in Fountain Hills, Arizona. The project improves tenant and customer satisfaction, boosts operational efficiency, and supports long-term property performance, while reinforcing FNRP’s commitment to sustainability and community alignment.
The lighting upgrade complies with the standards of Fountain Hills, a designated Dark Sky Community committed to preserving natural night skies. FNRP’s new 3000 Kelvin, warm-colored LED fixtures are fully shielded and directed downward, illuminating walkways, drive aisles, and storefronts without casting light upward or outward.
The installation was completed in partnership with Awaken Blue, a lighting design and technology firm specializing in dark-sky-compliant and energy-efficient solutions.
“The new lighting not only modernizes the look and feel of the center, but it also enhances safety, improves the customer experience, and supports our tenants,” said Kurt Padavano, Chief Operating Officer at FNRP. “It’s a smart, lasting upgrade that reflects our commitment to operational excellence and enhanced property performance.”
The upgrade is part of a continued investment in property improvements that support tenant success and overall asset quality. Fountain Hills Plaza serves a loyal customer base from Fountain Hills and the surrounding Scottsdale area. The upgraded lighting enhances the atmosphere of the center, offering better visibility and a more inviting experience for visitors, particularly after dark.
“Retailers want to be in well-maintained, forward-thinking centers,” said Sam Collier, Executive Vice President of Leasing and National Accounts at FNRP. “When we invest in improvements like this, we’re not just updating infrastructure. We’re creating a more inviting environment that helps our tenants attract customers and strengthen the overall center.”
The LED lighting conversion is expected to significantly reduce electricity usage and related Common Area Maintenance (CAM) charges, which cover shared expenses such as utilities, landscaping, and parking lot upkeep. LEDs also have longer life cycles and lower maintenance requirements, reducing the disruptions and costs often associated with traditional lighting systems.
These reductions help improve the property’s net operating income (NOI) and create a more attractive cost structure for tenants—key factors in retention and long-term leasing stability.
“Lighting upgrades are often among the most impactful capital improvements in retail environments, and can offer strong returns on investment,” said Andrew DeNardo, President and Head of Investor Relations at FNRP. “Retail is ultimately about attracting customers and driving foot traffic. High-quality lighting has the potential to create a more inviting environment, support tenant sales, and help reduce property expenses.”
Beyond immediate cost reductions, the lighting upgrade contributes to a more predictable and stable expense profile for the asset. By minimizing reactive maintenance and limiting exposure to fluctuating utility costs, the property becomes easier to manage and forecast, supporting more reliable cash flow and long-term investment performance.
This lighting upgrade reflects FNRP’s focus on data-informed improvements that deliver lasting impact, support tenant success, and align with local priorities. It reinforces the firm’s commitment to best-in-class ownership and proactive asset management across its national portfolio.
About First National Realty Partners
First National Realty Partners (FNRP) provides accredited investors with access to institutional quality commercial real estate, specializing in necessity-based retail nationwide. From acquisition to disposition, FNRP oversees the entire investment lifecycle through its vertically integrated platform. Leveraging top in-house talent in legal, acquisitions, leasing, and other key areas, FNRP creates sustainable value for its investors. For more information, please visit www.fnrpusa.com.
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