First National Realty Partners Purchases South Carolina Retail Center

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Apr 30, 2024, 10:00 ET

SUMTER, S.C., April 30, 2024 /PRNewswire/ -- First National Realty Partners (FNRP), a leading national private equity firm specializing in commercial real estate, closed on the acquisition of Sumter Square, a 66,765-square-foot shopping center in Sumter, South Carolina. This strategic acquisition marks FNRP's expansion into South Carolina and brings its operating footprint to 25 states.

First National Realty Partners' Latest Acquisition, Sumter Square, in Sumter, South Carolina

"We are proud to add Sumter Square to our Sun Belt portfolio," said Matt Annibale, vice president of acquisitions. "Sumter Square is a market-dominant asset with a seasoned existing tenancy, plus the opportunity to add value through additional leasing."

Sumter Square is anchored by a 39,365-square-foot Piggly Wiggly, an operator at the center since 1992. According to RetailStat, the Sumter Square location is one of the chain's top-performing stores in South Carolina based on customer foot traffic. The center features several other daily-needs tenants.

"Sumter Square boasts a high-performing tenant base that aligns perfectly with our necessity-based investment approach," commented Annibale. "The center also benefits from its location on a primary east-west corridor near national retailers including Walmart and Lowe's Home Improvement."

The center is located in a regional retail trade area 40 miles outside Columbia, South Carolina. It benefits from its close proximity to Shaw Air Force Base, the largest employer in Sumter. Within a five-mile radius, the population exceeds 60,000 people with average household incomes of $80,000.

David Robinov of Ackman-Ziff represented the seller in the 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