FNRP Increases Leased Occupancy at Country Club Centre from 85% to 92% Within Two Months of Acquisition
New Lease with Hibbett Sports Showcases FNRP's Ability to Execute Value-Add Business Plans
MONTGOMERY, Ala., April 2, 2025 /PRNewswire/ -- First National Realty Partners (FNRP), a leading national private equity commercial real estate firm, has increased leased occupancy at Country Club Centre in Montgomery, Alabama from 85% to 92% in less than 60 days since acquiring the asset. The new lease with Hibbett Sports underscores FNRP's ability to execute its strategic business plan and generate value for investors.
FNRP began negotiations with Hibbett Sports before closing on the acquisition in early February 2025. Hibbett is expected to open in Summer 2025, enhancing the tenant mix and the center's retail appeal.
"The lease with Hibbett Sports validates our business plan and proves our ability to execute quickly and effectively," said Fred Battisti, Chief Revenue Officer at FNRP. "Early lease-up with a national tenant like Hibbett Sports, combined with planned renovations at Winn-Dixie, we think will help to drive income growth and improve terms with existing tenants."
Hibbett Sports now operates in 11 of FNRP's centers nationwide, reflecting a strong partnership built on understanding and meeting tenant needs. FNRP's tenant-centric approach focuses on building long-term relationships with national and local retailers to support their growth strategies. This approach, we believe, plays a critical role in strengthening property value and driving sustainable income growth.
"Our acquisitions team identified an opportunity where we could add value quickly, and our leasing team executed efficiently to make it happen," said Andrew DeNardo, President and Head of Investor Relations. "Securing Hibbett early strengthens the tenant mix and positions us to advance the next phase of our strategy sooner, reinforcing long-term growth for the center and our investors."
FNRP's strategy for Country Club Centre includes tenant remerchandising, boosting occupancy, and making strategic capital improvements to the property. The rapid increase in occupancy highlights FNRP's expertise in identifying and executing on value-add opportunities, reinforcing its position as a leader in the grocery-anchored retail sector.
About First National Realty Partners
First National Realty Partners (FNRP) provides accredited investors with access to institutional quality commercial real estate, specializing in necessity-based retail nationwide. From acquisition to disposition, FNRP oversees the entire investment lifecycle through its vertically integrated platform. Leveraging top in-house talent in legal, acquisitions, leasing, and other key areas, FNRP creates sustainable value for its investors. For more information, please visit www.fnrpusa.com.
Contact:
Jessica DeMarino
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SOURCE First National Realty Partners, LLC
