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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.”

Source: 2020 Connect Media.

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