First National Realty Partners Acquires Retail Center In Oswego For $13.7M

The property involved in the transaction is Townes Crossing, a 105,731-square-foot grocery-anchored retail center located at 2540 US Route 30 in Oswego, Illinois. The sale price for this asset was $13,700,000, translating to a price per square foot of $130.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $13,700,000
• Buyer: Matt Annibale & Michael Hazinski - First National Realty Partners
• Seller: David Luski - DRA Advisors
• Broker: Evan Halkias - Cushman & Wakefield
• Lender: WoodmenLife
• Market: Oswego

First National Realty Partners, through its Vice President of Acquisitions Matt Annibale and CIO Mike Hazinski, completed their fourth off-market transaction of the year with the acquisition of Townes Crossing. The property is anchored by Jewel-Osco and features a robust tenant lineup, including Phenix, Salon Suites, and Subway. The financing for this deal was secured through a $7.5 million loan from WoodmenLife, with the loan set to mature in June 2030. This acquisition further bolsters FNRP's portfolio, which now spans over 60 properties across 26 states, showcasing the company's strong position in the grocery-anchored retail sector.