Equity One also is marketing a second outparcel, which would beabout 3,500 sf and an ideal location for a bank, Doron Valero,president and COO of Equity One Inc., tells GlobeSt.com. Thedevelopment costs of the plaza total approximately $10 million,including costs for the additional 3,500-sf outparcel.

"The location of Plaza Alegre is in one of the highest growthareas in Southwest Miami-Dade," Valero says. "There are hundreds ofhomes being built within a half-mile radius. Publix opened verywell, and the center keeps getting better every day." Uponstabilization, which is expected in the fourth quarter of thisyear, Plaza Alegre is expected to yield more than 10.5% onprojected total costs.

"Our development, acquisition and disposition activitiescontinue to enhance our real estate operations," Valero said in astatement. "Transactions such as (this) further strengthen oursupermarket-anchored shopping center franchise in key urban marketsin the southern US."

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