As pricing continues to rise for industrial and multifamily assets, grocery-anchored shopping centers are looking more and more attractive.
When Kroger-anchored Crossroads South hit the market earlier this year, Matt Annibale, senior director of acquisitions with First National Realty Partners (FNRP), jumped at the chance to acquire the 201,404-sq.-ft. shopping center located about 16 miles south of downtown Atlanta.
At 92 percent occupancy, Crossroads South generated more than a dozen offers, according to Annibale. FNRP, a Red Bank, N.J.-based real estate investment firm, went through multiple rounds of bidding before coming out on top, closing the deal in mid-November for $16.2 million.
At 92 percent occupancy, Crossroads South generated more than a dozen offers, according to Annibale. FNRP, a Red Bank, N.J.-based real estate investment firm, went through multiple rounds of bidding before coming out on top, closing the deal in mid-November for $16.2 million.
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RSK: Even in a pandemic, people need to buy groceries.
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- - Volume: 9 - WEEK: 49 Date: 11/30/2021 10:55:11 AM -