PORT RICHEY — Embassy Plaza, a community shopping center at U.S. 19 N that includes an Office Depot and Cinema 6, has been sold for $3.35 million.
The buyer, a private, Florida-based investor, was attracted to the center "because of the opportunity to upgrade the property and tenant mix in a sub-market that is in transition,'' said Mark Shellabarger of the brokerage CBRE, who represented the seller, Somerset Eagle Corp. "The Port Richey area is attracting new apartment development and new retailers, which is a positive trend that will benefit Embassy Plaza.''
Other tenants in the 99,005-square-foot center, which is currently 68 percent leased, include Longhorn Steakhouse and Party City.
Contact Susan Taylor Martin at [email protected] or (727) 893-8642. Follow @susanskate.