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First National Realty Partners has sold a Shop-Rite supermarket in Uniondale, NY less than two years after acquiring it

First National Realty Partners Divests Popular Uniondale Supermarket

First National Realty Partners (FNRP) has sold a 61,000-square-foot, single-tenant grocery property at 1121 Jerusalem Ave. in the Nassau County community of Uniondale, NY. FNRP acquired the ShopRite-leased asset in August 2020. 

A top-performing location within the ShopRite cooperative, the supermarket is adjacent to a popular Walmart store and generates significant daily traffic. 

1121 Jerusalem Ave.’s essential-category tenant made it a risk-averse investment opportunity during COVID-19 business disruptions. The result was a net average annual return for FNRP’s partner-investors of 23.73%. 

“We are pleased with our execution on this deal and the return that it has provided to our investors in such a short amount of time,” said Matt Annibale, senior director of acquisitions. “We had the benefit of working with a high-quality buyer that we recently transacted with on another deal. The sale underscores the ongoing resilience of the grocery-anchored retail niche and the institutional demand for these assets.” 


Inside The Story

First National Realty Partners

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).