The Pavilion Shopping Center totals 168,005 sf and is anchored by a 50,795-sf Publix supermarket, along with Pavilion Theatres, Anthony's LadiesWear and Fleming's Prime Steakhouse. In addition, the center has 75,394 sf of local space.
Pavilion is located on 20 acres at Vanderbilt Beach Road and North Tamiami Trail, about four miles west of Interstate 75, and was completed in 1982. The three-mile trade area includes 38,374 people who have a $66,404 median household income. Equity One funded the acquisition from its unsecured line of credit.
"Pavilion is the type of shopping center we will continue to add to our portfolio, with a dominant supermarket anchor in a demographically strong and urban, infill location," Chaim Katzman, chairman and CEO of Equity One, says in a statement. "This acquisition further solidifies our position as the number one owner of shopping center properties in the state of Florida, one of the fastest-growing states in the nation."
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