First National Realty Partners Acquires Christina Crossing Shopping Center In Wilmington, DE For $29.8M
501 South Walnut Street
$29,800,000
$249/SF
Building Size
119,446 SF
Asset Type
Retail
Closing
Nov 9, 2023
About this deal
AI
First National Realty Partners, represented by Josh Champion, purchased Christina Crossing, a 119,446-square-foot retail property located at 501 South Walnut Street in Wilmington, DE, for a total of $29.8 million. The property was acquired from a joint venture of KPR Centers and DRA Advisors LLC.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $29,800,000
- Square Footage: 119,446
- Price per Square Foot: $249
- Address: 501 South Walnut Street, Wilmington, DE
- Market: Wilmington, DE
JLL represented the seller, Red Bank, in the transaction.
It is noteworthy that First National Realty Partners successfully acquired Christina Crossing from the joint venture of KPR Centers and DRA Advisors LLC. JLL acted as the seller's representative in this transaction, ensuring a smooth deal for all parties involved.
Players
Wilmington Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.53%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93