Equity One Acquires Three Shopping Centers in
September 09, 2010 09:24 AM Eastern Daylight Time
NORTH MIAMI BEACH, Fla.--(EON: Enhanced Online News)--Equity One, Inc. (NYSE:EQY), an owner,
developer, and operator of shopping centers, announced today that it has acquired three shopping centers in Florida
for an aggregate purchase price of $64.7 million. Two centers, Country Walk and West Bird Plaza, are located in
Miami Dade-County, one of the most densely populated and supply constrained markets in the United States. The
third center, Pablo Plaza, is located in Jacksonville, Florida.
Country Walk Plaza was acquired for approximately $27.8 million and is a 100,229 square foot neighborhood
shopping center located at the heavily traveled intersection of SW 152nd Street and SW 137th Avenue in Miami,
Florida. The center is currently 96% leased and is anchored by a high-volume Publix supermarket and a CVS. There
are in excess of 110,000 people living within three miles of the center.
Westbird Plaza was acquired for $17.6 million and is a 99,864 square foot neighborhood shopping center located
on Bird Road near the Florida Turnpike in Miami, Florida. The center is currently 94% leased and is anchored by a
very productive Publix and a CVS. There are over 200,000 people living within three miles of the property. This
asset is the third supermarket anchored shopping center acquired by Equity One on Bird Road, one of the most
desirable East-West corridors in Miami-Dade County.
The third center, Pablo Plaza, is a 151,238 square foot neighborhood shopping center located on A1A in
Jacksonville Beach, Florida and was acquired for $19.3 million. The center is currently 88% leased and is anchored
by Marshalls, HomeGoods, and Office Depot. This center is located one-half mile from South Beach Regional,
Equity One’s largest asset in the Jacksonville, Florida market.
“These acquisitions are consistent with our strategy of investing in our target markets with favorable demographics