First National Realty Partners Acquires Pennsylvania Retail Property

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Mar 21, 2024, 10:00 ET

HORSHAM, Pa., March 21, 2024 /PRNewswire/ -- First National Realty Partners (FNRP), a leading national private equity firm specializing in commercial real estate, announced the acquisition of Elements Horsham, a 50,353-square-foot shopping center in Horsham, Pennsylvania. This strategic acquisition strengthens FNRP's presence in the Commonwealth and continues its growth in the open-air retail sector.

First National Realty Partners' Latest Acquisition, Elements Horsham, in Horsham, Pennsylvania

"We're excited to welcome Elements Horsham to our growing portfolio," said Matt Annibale, senior director of acquisitions. "This high-performing center aligns perfectly with our strategy, offering a diverse, upscale tenant mix in a prime location within a thriving submarket of Philadelphia."

Boasting a 94% occupancy rate, Elements Horsham features a wide selection of essential daily needs tenants including dining establishments, professional services, and medical providers. A high-traffic Starbucks anchors one corner, while MaGerk's, a regional upscale eatery, occupies the other end. The center also features Aqua-Tots Swim School, TruMark Financial, Charles Schwab, and a variety of healthcare professionals.

"The presence of these established and growing businesses highlights the strong demand for Elements Horsham's diverse offerings," Annibale said. "We're confident this acquisition will continue to benefit from the strength of the trade area."

The center is situated in an affluent suburb of Philadelphia within a dense trade area that features extremely high retail occupancy and strong barriers to new development. Within a 5-mile radius of the property, the population exceeds 200,000 people with an average household income of $150,000, about twice the national median.

James Galbally, Patrick Higgins, Chris Munley, and Colin Behr represented the seller in this transaction.

FNRP provides accredited investors with access to institutional quality commercial real estate assets specializing in necessity-based real estate: grocery-anchored retail, multifamily, and industrial and sourcing opportunities both on and off-market nationwide. From acquisition to disposition, FNRP oversees the entire investment lifecycle 100% in-house, leveraging top talent in legal, acquisitions, leasing, and other key areas. For more information, visit www.fnrpusa.com.

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Contact:
Jessica DeMarino
[email protected]

SOURCE First National Realty Partners, LLC