NEW PORT RICHEY, FLA. — Franklin Street has arranged the sale of a 104,201-square-foot, single-tenant retail property located in New Port Richey, roughly 40 miles northwest of Tampa. Built in 1987 and situated within the Pasco Square shopping center, the building is fully occupied by retailer Bealls. Grant Equities LLC acquired the property for $7.2 million.
Bryan Belk, John Tennant and Zack McNamara of Franklin Street represented the seller, an affiliate of Vanguard Associates Inc., in the transaction. McNamara previously negotiated a new, long-term lease with Bealls on behalf of the landlord, and Michael Conlon of Franklin Street Insurance Services secured the property, casualty and flood insurance policies on behalf of the buyer.