RED BANK, N.J., Dec. 09, 2021 (GLOBE NEWSWIRE) — via InvestorWire –First National Realty Partners (FNRP) is pleased to announce the acquisition of Premier Canton, a grocery-anchored shopping center located at 45540 Michigan Avenue, Canton, MI 48188. Premier Canton is a 164,781 SF shopping center that is 88% occupied and anchored by a 59,805 square foot Kroger Supermarket. The property is located approximately 25 miles west of downtown Detroit and adds to FNRP’s rapidly growing portfolio of premier real estate assets throughout the United States.
“We are very excited to acquire Premier Canton,” said Matt Annibale, Senior Director of Acquisitions at First National Realty Partners. “Not only is the center anchored by a high-performing Kroger Supermarket, but it also features a 18,000 square foot junior box vacancy which provides the potential for significant upside in the deal.” The center also features a 50,000 square foot Dick’s Sporting Goods and an impressive lineup of other internet-resistant, daily needs tenants.
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.
Sam Perrelli, Investor Relations
First National Realty Partners
125 Half Mile Road Suite 207
Red Bank, New Jersey 07701