By Joshua Burd
First National Realty Partners has named new chief executive and chief financial officers to guide its fast-growing team and portfolio of necessity-based retail properties.
The privately held firm, which is based in Red Bank, has tapped Andrew DeNardo as CEO after promoting him from the post of managing principal. He takes the helm after joining FNRP in 2016, soon after its founding, and will guide the executive leadership in strategy and execution and help it scale while remaining efficient.
Meantime, the firm has hired 20-year industry veteran Bill Comeau to fill the CFO position, noting that he oversees FNRP’s accounting department, spearheads financial reporting and analysis for the executive team and investors and guides efficient use of the company’s capital.
“We are pleased to recognize Andrew’s achievements at FNRP with this well-deserved promotion, and to welcome Bill to our team,” said Chris Palermo, a co-founder of the firm. “We strongly believe in recognizing and rewarding the outstanding performance of our staff, and in recruiting top talent to meet our strategic growth needs. Andrew and Bill are accomplished team players and great examples of the high-caliber professionals who are moving our company forward as we expand FNRP’s portfolio and geographic reach.”
The company, which focuses on grocery-anchored and necessity-based, open-air shopping centers nationwide, has grown its portfolio to nearly 9 million square feet across 19 states. That expansion has coincided with the growth of its team over the last 24 months, from 19 to 142 employees, spanning disciplines such as legal, acquisitions, leasing and other key areas to help maximize its investments.
DeNardo’s tenure with FNRP has touched every aspect of the business, the firm said, including property management, finance, acquisitions, legal and compliance, marketing, investor relations, asset management and general operations. The company added that his achievements, institutional knowledge and leadership abilities have been essential to its growth and will likely continue to be so.
Comeau, for his part, has held CFO positions at private firms, institutional funds and nonprofits, including more than 10 years at DLC Management, according to a news release. He earned a master’s from Manhattan College and a bachelor’s from Baruch College, while he is a registered certified public accountant in New York State and has served as an adjunct professor at New York University.