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N.J. Investor Establishes Old Line State Presence with Brandywine Crossing
BRANDYWINE, Md., March 29, 2022 — First National Realty Partners, LLC (FNRP), a rapidly growing, vertically integrated real estate investment firm based in Red Bank, N.J, today announced the acquisition of Brandywine Crossing in Brandywine. The addition of this 231,000-square-foot asset marks FNRP’s expansion into the State of Maryland, continuing the company’s strategic targeting of open-air retail centers in primary and key secondary markets.
The market-dominant shopping center, Brandywine Crossing is anchored by a nearly 60,000-square-foot Safeway market. A tenant at the center since 2008, Safeway is a subsidiary of Albertson’s, the second largest supermarket chain in North America. Safeway operates a branded fuel center at the site, furthering its commitment to the center and facilitating increased traffic to benefit its co-tenants. Brandywine Crossing also features Marshalls, Joann, Advance Auto Parts, Starbucks, Suntrust Bank, Wells Fargo, Panda Express, Bonefish Grill, AT&T, and The UPS Store.
“We are excited to establish a presence in Maryland with our acquisition of Brandywine Crossing,” said Matt Annibale, senior director of acquisitions. “With a rapidly growing, affluent population and easy access to Washington, D.C., Brandywine is an ideal match for our expansion into new regions.” Annibale noted that the center’s approximately 15,000 square feet of available space provides significant upside potential by way of increased occupancy and cash flow.
Brandywine Crossing is located at 15802 Crain Highway, in the heart of a densely populated retail corridor with a daily traffic count exceeding 108,000 vehicles. The center serves a growing population of more than 61,000 – with an average household income of $115,000 – within a five-mile radius of the property.
Jordan Lex and Daniel Naughton of JLL represented the seller in the Brandywine Crossing transaction.
First National Realty Partners is focused on acquiring institutional-quality commercial real estate throughout the United States. An active, opportunistic and value-add investment firm, FNRP is equipped to operate in all facets of the real estate acquisition process as an investor, developer and asset manager of commercial real estate. The firm enhances the value of properties through hands-on management and targeted investments that result in superior, risk-adjusted returns for its investors.
About First National Realty Partners, LLC
125 Half Mile Road, Suite 207, Red Bank, NJ 07701