Pasco Square

Plaza Advisors Brokers Sale of Shopping Center in New Port Richey

by John Nelson

NEW PORT RICHEY, FLA. — Plaza Advisors has brokered the sale of Pasco Square Shopping Center, a 135,421-square-foot retail asset located at the intersection of State Road 54 and Rowan Road in New Port Richey. The property was 90 percent leased at the time of sale to tenants such as Beall’s Outlet, Dollar General Market, Badcock Home Furnishings, Dollar Tree, GNC, Radio Shack, The UPS Store and Subway. Jim Michalak, Mike Cvetetic and Nick Castellano of Plaza Advisors represented the seller, Phillips Edison & Co., in the transaction. The buyer, Isram Acquisition Corp., purchased the asset for $7.4 million. No other brokers were involved in the transaction.

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