First National Realty Partners (FNRP), a national private equity commercial real estate firm specializing in grocery-anchored retail centers, has acquired Marc’s Grocery Center, a 63,317-square-foot retail property in South Euclid, Ohio.
The acquisition expands the firm’s Cleveland metropolitan area portfolio to more than 600,000 square feet of grocery-anchored retail space. Marc’s Grocery Center now joins four other FNRP-owned properties in the region: Shore Center Plaza, Cedar Center South, Lee Harvard Shopping Center, and Shaker Heights Center. All five assets are located within a roughly 10-mile radius.
Built in 2018, the center is anchored by Marc’s, a regional grocery chain based in Ohio. Additional tenants include Starbucks, AT&T, NextDoor Urgent Care, Great Clips, and Subway.
The property sits along Mayfield Road, a major east–west retail corridor roughly 12 miles east of downtown Cleveland. The shopping center serves a population of more than 117,000 residents within a three-mile radius, with average household incomes exceeding $113,000. As the only grocery-anchored shopping center in South Euclid, the property faces limited direct retail competition within its immediate trade area.
Erin Patton of Marcus & Millichap Institutional Property Advisors represented the seller in the transaction.
First National Realty Partners provides accredited investors with access to institutional-quality commercial real estate and focuses on necessity-based retail properties across the United States. The firm manages the full investment lifecycle—from acquisition and leasing to operations and disposition—through an integrated in-house platform.
KEY QUOTES
“The acquisition of Marc’s Grocery Center is consistent with our strategy to add market-dominant assets to our portfolio. Marc’s Grocery Center was built in 2018 and has high-performing tenants that benefit from a lack of retail competition in the trade area.”
Michael Hazinski, Chief Investment Officer, First National Realty Partners
