A 1980s-era shopping center along Land O’ Lakes Boulevard has a new owner.
Robert and Elizabeth Ferrer purchased Lake Francisco Plaza at 1900 Land O’ Lakes Blvd., in Lutz, early last month for $1.3 million. That was nearly $200,000 less than what Lake Francisco Plaza LLC out of Georgia paid for the same 121,000-square-foot strip mall in 2005.
The center, near where U.S. 41 and Dale Mabry Highway split just north of the Hillsborough County line, has four spaces for retail and office, according to Pasco County property records. The largest is 54,000 square feet.
Lake Francisco Plaza has been part of the Yount family since the beginning in 1984, with even the company that purchased it in 2005 listing Thomas C. Yount as one of its managers.
Pasco had a strong quarter in property sales of transactions more than $1 million. The period between March and June, not including any late filers, saw $72.8 million change hands, compared to the $37.2 million sold during the same quarter in 2013, according to county property records.
