Plaza Advisors Arranges Sale of 131K-SF Retail Plaza in New Port Richey
Real estate brokerage firm Plaza Advisors has arranged the sale of the Shoppes at Golden Acres, a 130,707-square-foot retail plaza in New Port Richey, FL. The sales price was not disclosed.
The Shoppes at Golden Acres tenant roster includes Publix, Rent-A-Center, Edward Jones, and Amscot and is in close proximity to several national retailers including Home Depot, Lowe’s and Kohl’s. Jim Michalak and Keith Nurre of Plaza Advisors represented the seller, a joint venture between SITE Centers Corp. and Madison International Realty. The buyer was an undisclosed joint venture.
“Demand for Florida grocery anchored asset is at an extremely high level. However, the amount of available centers is very low” said Jim Michalak of Plaza Advisors. “The various economic dynamics of Florida, including strong population growth, a thriving economy and relocating retirees, continue to drive investment demand and provide a “safe haven” for capital placement by both domestic and foreign investors.”
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.