First National Realty Partners Purchases Houston Retail Center

First National Realty Partners, LLC (FNRP), a New Jersey-based real estate investment firm, announced the acquisition of Champions Village in Houston. The addition of the 383,000-square-foot asset marks FNRP’s first step into the Texas market and another strategic move in its nationwide expansion targeting premier open-air retail centers in primary and key secondary markets.

 Champions Village includes five buildings on a 32-acre site at 5215 FM 1960 Road W. The center is anchored by a 61,600-square-foot Randalls grocery store, which has been a tenant at the site for 50 years. Other tenants include T.J.Maxx, Barnes and Noble and Kirkland’s.

“Champions Village is a true value-add, grocery-anchored essential neighborhood shopping destination which is the core of our investment thesis,” said Stephen Joseph, director of acquisitions, noting that the approximately 120,000 square feet of available space at the center provides FNRP with significant upside potential by way of increased occupancy and cash flow.

 Chris Gerard, Ryan West and Ethan Goldberg of JLL represented the seller in the transaction. The transaction amount was not disclosed.