Massachusetts' DeMatteo Properties buys New Port Richey Dollar General

BUYER: DeMatteo Properties Inc. (principals: Joseph DeMatteo and Joel Lewin), Norwell, Mass.
SELLER: Teramore Development LLC
PROPERTY: 11926 Moon Lake Road, New Port Richey
PRICE: $1.3 million
PREVIOUS PRICE: $105,000, February
LAW FIRM ON DEED: Mathew Law Firm PA, Tallahassee

PLANS, DESCRIPTION: Norwell, Mass.-based DeMatteo Properties Inc. purchased a 9,002-square-foot Dollar General store just off Highway 52 for $1.3 million.

The price equated to $147 per square foot. That figure is in line with the two-year average price per square foot for retail space ($146) in the Tampa Bay area, according to the CoStar Group.