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Marcus & Millichap Arranges $3M Sale of Retail Property in New Port Richey

Marcus & Millichap has arranged the $3.3 million sale of Universal Plaza, a 90,500-square-foot retail property in New Port Richey, FL. The center is located at 3500 U.S. Highway 19 N.

Evan Cannan and James Medefind of Marcus & Millichap’s Tampa office represented the seller, a limited liability company, in the transaction. The buyer was a private investor from Montreal, Canada.

“Our ability to access buyers nationwide allowed us to drive multiple offers within a very short time frame,” said Cannan. “Immediately upon bringing the property to market, we had 4 offers from out-of-state buyers and we were able to go under contract in just 40 days.”

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.