ST. CHARLES, Mo., Aug. 24, 2023 /PRNewswire/ — First National Realty Partners (“FNRP”), a national private equity commercial real estate firm, has executed a total 76,000-square-foot lease with Gabe’s at Mark Twain Village located in St. Charles, Missouri. This lease signifies the beginning of a partnership between FNRP and Gabe’s. This is the first Gabe’s location in the firm’s portfolio as well as the first Gabe’s store in the State of Missouri.
Gabe’s is an off-price retailer offering fashion and footwear for the entire family, essentials, beauty, accessories, and home merchandise at discounted prices. Their newest location was recently remodeled and occupies the former Gordman’s space. They opened to the public on Saturday, August 12th, 2023.
“We view the addition of Gabe’s to Mark Twain Village as a WIN-WIN-WIN for Gabe’s, existing tenants at Mark Twain Village, and FNRP investors. The lease-up of this key anchor space was a critical part of the property’s business plan and increases the center’s occupancy rate from 72% to 97%,” said Fred Battisti, chief revenue officer.
Gabe’s brings a soft goods component to the center that was previously missing. The opening of Gabe’s is expected to expand the center’s consumer base and serve as a catalyst for the next phase of its development involving the re-leasing efforts of the remaining vacant spaces.
“We are thrilled to have partnered with Gabe’s to bring their first location to Missouri,” commented David Roth, vice president of leasing. “This is, what we hope, a beginning to a long relationship with their team.”
“Gabe’s is thrilled to open our 129th store–and our first store location in Missouri—in this incredible plaza. We are thrilled to welcome customers to a new, exciting, and convenient, shopping experience—full of incredible products and unbeatable deals,” commented Leigh Guldig, chief marketing officer at Gabe’s.
Gabe’s joins other high-quality national tenants including Bass Pro Shops, Duluth Trading Company, Dungarees, and Aldi at the center.
FNRP provides accredited investors with access to what we believe are institutional quality commercial real estate assets in the necessity-based real estate sector: grocery-anchored retail, multi-family, and industrial by sourcing opportunities both on and off-market nationwide. From acquisition to disposition, FNRP oversees the entire investment lifecycle 100% in-house, leveraging top talent in legal, acquisitions, leasing, and other key areas. For more information, visit www.fnrpusa.com.
SOURCE First National Realty Partners, LLC
Originally published at https://www.prnewswire.com/news-releases/first-national-realty-partners-adds-gabes-to-shopping-center-portfolio-301909319.html
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