First National Realty Partners (FNRP), one of the fastest-growing vertically integrated real estate investment firms in the United States, has announced the disposition of a 61,000-square-foot, single-tenant grocery property at 1121 Jerusalem Ave. in Uniondale. FNRP acquired the ShopRite-leased asset in August 2020.
A top-performing location within the ShopRite cooperative, the supermarket is adjacent to a popular Walmart store and generates significant daily traffic as a staple of the community. The site benefits from exceptional demographics and a desirable Nassau County address with direct access off Jerusalem Avenue, proximate to Meadowbrook Parkway.
1121 Jerusalem Ave.’s essential-category tenant made it a risk-averse investment opportunity during COVID-19 business disruptions. The end result produced a net average annual return for FNRP’s partner-investors of 23.73%.
“We are pleased with our execution on this deal and the return that it has provided to our investors in such a short amount of time,” said Matt Annibale, senior director of acquisitions. “We had the benefit of working with a high-quality buyer that we recently transacted with on another deal.” The sale underscores the ongoing resilience of the grocery-anchored retail niche and the institutional demand for these assets.”
FNRP provides everyday accredited investors with access to real estate assets that traditionally have been available only to institutional investors. Specializing in grocery-anchored, necessity-based retail product, the firm sources opportunities both on and off-market nationwide. From acquisition to disposition, FRNP oversees the entire investment lifecycle 100% in-house, leveraging top talent in legal, acquisitions, leasing, and other key areas to ensure its properties achieve maximum value and partners realize exceptional, risk-adjusted returns.
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