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t ICSC Las Vegas 2025, First National Realty Partners (FNRP) executives highlighted a cautiously optimistic outlook for the retail real estate sector. FNRP's leadership engaged with industry peers and partners, discussing strong market fundamentals and emerging trends shaping strategy.

    The firm's chief investment officer, Michael Hazinski, noted that quality grocery-anchored retail centers remain in short supply, driven by constrained supply and a deep buyer pool. Despite this, Hazinski believes market dynamics will remain relatively stable until uncertainty around rates and tariffs is resolved. Stuart Brackenridge, FNRP's vice president of acquisitions, reinforced the outlook, citing strong retail market fundamentals, including high occupancy, healthy demand for space, and minimal new construction.

    In leasing, retailers are demonstrating resilience and adaptability, expanding strategically despite broader economic challenges. Sam Collier, FNRP's executive vice president of leasing and national accounts, observed that many brands are optimizing their real estate footprint while continuing to grow. Bret Nesbitt, FNRP's vice president of leasing, reported high confidence among retail tenants, who are actively pursuing growth in infill, secondary, and tertiary markets.

    The sentiment from ICSC Las Vegas 2025 was one of cautious optimism, grounded in strong fundamentals and strategic adaptability. While macroeconomic pressures and capital market volatility continue to shape the landscape, retailers remain growth-focused, leasing activity continues to show resilience, and there remains a steady pool of available equity and debt for these assets.

    FNRP believes it is well-positioned to capitalize on the next phase of market activity, whether through acquisitions, leasing partnerships or redevelopment opportunities in its growing portfolio. With a disciplined investment approach, a national platform, and a focus on necessity-based retail, FNRP is poised to navigate the evolving retail landscape.