Westwood Shopping Center, a 307,546-square-foot grocery-anchored shopping center in Fayetteville, has recently been acquired by First National Realty Partners. Currently, the shopping center is at 93 percent occupancy, featuring a over 31,000-square-foot Food Lion.
The Westwood Shopping Center was previously owned by the Player family since 1974 when the center was first introduced to the Fayetteville community.
“The Player family is very proud to have built the Westwood Shopping Center from the ground up and own it for [almost] 50 years,” Lonnie Player, one of the former owners, explained. “There were a variety of reasons and mixed emotions about why we decided to sell the property, but we are very pleased with First National acquiring the property and continuing to let it grow.”
First National Realty Partners is a leading real estate investment firm based out of New Jersey that focuses on acquiring premier grocery-anchored stores across the country. The firm is a highly equipped investment company in all areas of commercial real estate in the acquisition process as investors, developers and asset managers.
The company enhances the value of their properties through hands-on management and targeted investments that result in risk-adjusted returns.
“We are very excited to be in Fayetteville and be a part of this community,” said Senior Director of Acquisitions Matt Annibale. “This is a premier center and we look forward to owning and operating the facility.”
The sale was represented by Rob Carter, Alex McDonald and Morgan Hall of Berkeley Capital Advisors.
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