Plaza Advisors is pleased to announce the sale of the Shoppes at Golden Acres. The 130,707 square foot retail plaza is located on Little Road and Fox Hollow Road in New Port Richey, with a combined traffic count of 55,500 vehicles daily. 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.
The joint venture seller included SITE Centers Corp. (NYSE: SITC), and Madison International Realty. The Buyer was an undisclosed joint venture. Jim Michalak and Keith Nurre of Plaza Advisors represented the seller and were the sole brokers involved in the transaction.
“Demand for Florida grocery anchored asset is at an extremely high level. However, the amount of available centers is very low” noted 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”.
Plaza Advisors is a real estate brokerage firm that specializes in the disposition of retail properties throughout the Southeastern United States. Plaza Advisors’ clients include private equity investors, developers, and major institutions including fund advisors, servicing agents, life insurance companies, REITs, and money center banks.