Equity One Acquires Shopping Center in
April 05, 2010 04:04 PM 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 had acquired Copps Hill Plaza for
approximately $33.4 million.
Copps Hill Plaza is a 184,528 square foot, shopping center located in Ridgefield, Connecticut, an affluent suburb of
New York City. The surrounding five-mile trade area has a median household income of $177,143. Since its
renovation in 2002, the center has been 100% leased, including anchor tenants Stop & Shop and Kohl’s. Equity
One assumed in-place indebtedness of $19.9 million at a fixed 6.06% interest rate through January 1, 2029.
“We are pleased to increase our presence in the Northeast and are excited to be able to close on a center with
significant barriers to entry and below market rents,” said Jeff Olson, Chief Executive Officer of Equity One. “Copps
Hill Plaza enhances our portfolio with a superior retail asset with strong demographics, stable cash flow, and upside
ABOUT EQUITY ONE, INC.
As of December 31, 2009, Equity One owned or had interests in 182 properties, consisting of 168 shopping centers
comprising approximately 19.0 million square feet, three projects in development/redevelopment, six non-retail
properties, and five parcels of land. Additionally, Equity One had joint venture interests in twelve shopping centers
and one office building totaling approximately 1.9 million square feet.
FORWARD LOOKING STATEMENTS
Certain matters discussed by Equity One in this press release constitute forward-looking statements within
the meaning of the federal securities laws.Although Equity One believes that the expectations reflected in
such forward-looking statements are based upon reasonable assumptions, it can give no assurance that these
expectations will be achieved. Factors that could cause actual results to differ materia