First National Realty Partners (FNRP) announced the acquisition of Townes Crossing, a 105,731-square-foot shopping center in Oswego, Ill.
Townes Crossing is anchored by a 65,000-square-foot Jewel-Osco grocery store, a subsidiary of Albertsons. Jewel-Osco is joined by retailers, including Phenix Salon Suites, Oswego Dental, The UPS Store and Subway.
“Townes Crossing is a testament to strong competitive positioning, with tenants boasting a weighted average tenure at the property exceeding 25 years,” said Matt Annibale, vice president of acquisitions at FNRP. “The center is situated in a neighborhood trade area, and we believe is poised to benefit from continued migration to Kendall County.”
Located 45 miles west of downtown Chicago at the intersection of Douglas Road and U.S. Route 30, more than 54,000 vehicles per day pass Townes Center. Within a five mile radius, the population exceeds 220,000 people, with average household incomes of more than $124,000.
