HORSHAM, PA — First National Realty Partners (FNRP), a national private equity firm with a specialization in commercial real estate, has recently announced its acquisition of Elements Horsham, a premier 50,353-square-foot shopping center located in the affluent suburb of Horsham, Pennsylvania. This strategic purchase is a testament to FNRP’s commitment to expanding its portfolio within the open-air retail sector and solidifying its presence in the Commonwealth.
Elements Horsham stands out as a high-performing center, boasting a remarkable 94% occupancy rate. The shopping center hosts a meticulously curated mix of tenants that cater to essential daily needs, including popular dining establishments, professional services, and medical providers. Notably, the center is anchored by a high-traffic Starbucks on one end and MaGerk’s, a regional upscale eatery, on the other. Additional tenants include Aqua-Tots Swim School, TruMark Financial, Charles Schwab, and an array of healthcare professionals.
Matt Annibale, Senior Director of Acquisitions at FNRP, expressed enthusiasm about the acquisition, noting, “This high-performing center aligns perfectly with our strategy, offering a diverse, upscale tenant mix in a prime location within a thriving submarket of Philadelphia.” He further highlighted the strong demand for Elements Horsham’s diverse offerings, underlining the firm’s confidence in the acquisition’s continued success within the robust trade area.
The strategic location of Elements Horsham in an affluent Philadelphia suburb is a key factor in its appeal. The surrounding dense trade area is characterized by extremely high retail occupancy rates and formidable barriers to new development. Moreover, the demographic profile within a 5-mile radius of the property reveals a population exceeding 200,000 individuals with an average household income of $150,000—approximately double the national median. These factors underscore the center’s potential for sustained growth and profitability.
The acquisition of Elements Horsham by FNRP is emblematic of the firm’s adeptness at identifying and capitalizing on opportunities within the open-air retail market. It reflects a broader trend in the commercial real estate sector where investors are increasingly attracted to properties that offer a mix of essential services and amenities, catering to the daily needs of affluent communities. As retailers continue to adapt to changing consumer preferences in the wake of the pandemic, centers like Elements Horsham are poised for resilience and relevance.
Representing the seller in this notable transaction were James Galbally, Patrick Higgins, Chris Munley, and Colin Behr, whose expertise facilitated the smooth completion of the deal. As FNRP integrates Elements Horsham into its expanding portfolio, industry watchers will be keenly observing the firm’s strategic moves and their implications for the future of retail real estate investment.
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