First National Realty Partners Achieves New Heights in 2024
First National Realty Partners Achieves Significant Growth in 2024
First National Realty Partners (FNRP) is making waves in the commercial real estate sector, thanks to strategic acquisitions and impressive leasing activity. As they round off a successful year in 2024, the firm is confidently eyeing even greater opportunities ahead.
Leasing Performance Exceeds Expectations
In the last year, FNRP signed a remarkable 76 new leases, which accumulated to over 487,000 square feet. This incredible performance not only surpassed their leasing goals but also highlighted the ongoing demand for necessity-based retail establishments. Key transactions included notable names like Crunch Fitness at Waldorf Marketplace, Burlington Coat Factory at Brandywine Crossing, and Ross Dress for Less at McAlpin Square, illustrating the company’s ability to attract quality tenants.
Expertise Behind the Success
“Our team's expertise drove strong leasing activity,” remarked Fred Battisti, Chief Revenue Officer at FNRP. He emphasized how grocery-anchored and open-air centers are thriving in today's market, benefitting from low vacancy rates and consistent demand. With these trends, FNRP is well-positioned to capitalize on them in 2025 and beyond.
Expanding Their Footprint
Throughout 2024, FNRP didn’t just focus on leasing; they also expanded their portfolio through strategic acquisitions worth $95.3 million. Their recent purchases included valuable properties such as Elements Horsham in Pennsylvania, Sumter Square in South Carolina, and Fountain Hills Plaza in Arizona, among others. This deliberate expansion showcases FNRP's commitment to enhancing its market presence and value.
A Proven Strategy for Acquisition
Michael Hazinski, Chief Investment Officer at FNRP, shared insights into their successful acquisition strategy. “We have a proven playbook for sourcing desirable acquisitions and enhancing value throughout the investment lifecycle. This fueled our success in a competitive market and will guide us in 2025,” he stated, underscoring the importance of their well-established approach.
A Commitment to Excellence
The firm’s outstanding performance did not go unnoticed. FNRP received several industry accolades, including the GlobeSt.'s Retail Influencer award and recognition as one of Commercial Property Executive's Top CRE Owners. Their achievements also include the prestigious IREM's Accredited Management Organization (AMO) distinction, further validating their commitment to excellence in commercial real estate management.
Looking Ahead to New Opportunities
As FNRP looks to the future, they are preparing for more strategic acquisitions set to close in the first quarter of the next year. With a robust portfolio that spans 12.5 million square feet, the firm is dedicated to providing accredited investors with access to high-quality commercial real estate.
Conclusion: Momentum for 2025
Andrew DeNardo, President and Head of Investor Relations at FNRP, encapsulated the firm’s outlook for the near future. “Our 2024 growth highlights the strength of our platform and strategy. We're entering 2025 with momentum, focused on disciplined acquisitions and strategic leasing to drive long-term value,” he noted. This forward-thinking approach positions FNRP for continued success in a dynamic market.
About First National Realty Partners
FNRP specializes in offering accredited investors access to institutional-quality commercial real estate. They focus on necessity-based retail, multifamily, and industrial assets across the nation. With a dedicated team managing the entire investment lifecycle—from acquisition to disposition—FNRP harnesses expertise in legal, acquisitions, leasing, and other essential areas.
Contact Information:
Jessica DeMarino
For inquiries, contact Jessica at the email provided above.
Frequently Asked Questions
What accomplishments did FNRP achieve in 2024?
FNRP signed 76 new leases amounting to over 487,000 square feet, surpassing their leasing goals.
Which key properties were included in FNRP's leasing activity?
Notable leases included Crunch Fitness, Burlington Coat Factory, and Ross Dress for Less.
What was the value of FNRP's acquisitions in 2024?
The firm made acquisitions totaling $95.3 million during the year.
What awards did FNRP receive?
FNRP earned several accolades including GlobeSt.'s Retail Influencer award and recognition as a Top CRE Owner.
What is FNRP's focus moving forward?
The firm aims to enhance acquisitions and leasing efforts to sustain growth and maximize value for investors.
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