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| Pasco Square Shopping Center, New Port Richey, FL |
TAMPA, FL -- Plaza Advisors is pleased to announce the sale
of the Pasco Square Shopping Center located in New Port Richey, Florida.
The grocery anchored shopping center is situated at the
intersection of SR 54 and Rowan Road and totals 135,421 square feet of gross
leasable area.
The major tenants include Beall’s Outlet, Dollar General
Market, Badcock Home Furnishings and Dollar Tree. Other notable tenants
include: GNC, Radio Shack, The UPS Store and Subway. The property was 90%
leased at the time of sale.
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| Jim Michalak |
Jim Michalak, Mike Cvetetic and Nick Castellano of
Plaza Advisors represented the seller in the transaction. No other brokers were
involved in the sale. The seller and buyer were Phillips Edison and Company,
and Isram Acquisition Corp., respectively.
“This asset was constructed in 1986 and has consistently
reported an above market historical occupancy rate” Mike Cvetetic stated. “From
a competitive standpoint Pasco Square has always effectively competed for
tenants due to the aggressive rent structure the owner is able to offer”
Cvetetic emphasized.
Plaza Advisors specializes in the disposition of anchored
shopping centers located throughout Florida. The company has successfully
closed twelve centers since December 2013. Those closings included: six Winn Dixie,
three Publix and one Dollar General Market anchored assets.
For a complete copy of the company’s news release, please
contact:
Jim Michalak
Managing Partner
Plaza Advisors
3412 Bay To Bay Boulevard
Tampa, FL 33629
813.837.1300 Ext. 101
Fax 831.2627
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