Red Bank, N.J.-based private equity commercial real estate firm First National Realty Partners (FNRP) recently signed a new tenant at its retail property in Sandy Springs, Ga. US Foods CHEF’STORE has signed on for a lease encompassing 28,000 square feet of suburban Atlanta retail space at City Center Crossing.
A one-stop shop for restaurant operators, food industry professionals, community groups, and at-home chefs, CHEF’STORE joins Planet Fitness as a co-anchor tenant at the property and marks the first location in the Atlanta area. The new City Center Crossing retail space also represents the first CHEF’STORE location in FNRP’s portfolio and is expected to open by the end of 2024.
The new tenancy reportedly represents a testament to the affluence and strength of the Sandy Springs submarket north of Atlanta, as well as a demonstration of FNRP’s dedication to added value and the firm’s ability to curate a high-quality tenant roster that addresses the needs of what is one of the fastest-growing submarkets in the Atlanta metropolitan statistical area.
“Our ability to secure a tenant like CHEF’STORE speaks to the strength of our team and our dedication to maximizing the value of our acquisitions for the community and our investors,” said Fred Battisti, chief revenue officer with FNRP. “CHEF’STORE’s innovative concept aligns perfectly with our grocery-anchored model. We are excited to welcome them to the center.”
First National Realty Partners acquired the retail property in 2021 for a little more than $20 million. At the time of sale, City Center Crossing was nearly 80% leased to tenants such as grocery store chain LiDL, swimming facility Golden Fish School, gold instruction facility GolfTec, fitness center D1 Fitness and sports bar Hudson Grille.
Located at 6337 Roswell Road, the suburban retail center spreads across nearly 10 acres and incorporates 103,313 square feet of space throughout one story. The property also features major street exposure along both Roswell Road and State Route 9.
“FNRP’s commitment to strategic acquisitions and proactive leasing strategies continues to deliver exceptional results,” said David Roth, FNRP vice president of leasing. “Since acquiring the center in 2021, we have successfully boosted occupancy at the center, fully leasing it — a testament to our dedication to our portfolio’s overall success.”
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