First National Realty Partners Acquires Aldi-Anchored Center
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RED BANK, N.J., March 16, 2021 /PRNewswire/ -- First National Realty Partners (FNRP) is pleased to announce the acquisition of Gadd Crossing, an Aldi-Anchored Shopping Center located at 5510 TN-153 in Hixson Tennessee. Gadd Crossing is a 94% occupied, newly renovated shopping center that features a 22,323 square foot Aldi. The property is located approximately 7 miles north of downtown Chattanooga and adds a secure and stable income stream to FNRP's growing portfolio of premier real estate assets throughout the United States.
"Entering the Tennessee market has been a company goal of ours so we are very excited to be acquiring Gadd Crossing, a landmark asset in the Chattanooga market," said Matt Annibale, Director of Acquisitions at FNRP. "Aldi is one of the fastest growing grocery chains in the country and they recently made a significant reinvestment in their store at the center. They are complimented here by a strong lineup of internet-resistant, daily needs tenants, which is a key attribute of the center."
First National Realty Partners, LLC (FNRP) is a leading vertically integrated real estate investment firm focused on acquiring institutional quality commercial real estate throughout the United States. The firm is an active, opportunistic, and value-add investment firm that is equipped to operate in all facets of the real estate acquisition process as an investor, developer, and asset manager of commercial real estate. FNRP enhances the value of properties through hands-on management and targeted investments that result in superior, risk-adjusted returns for its investors.
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SOURCE First National Realty Partners, LLC
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