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HOLLYWOOD, FL-North Miami Beach-based Equity One paid topdollar, $22 million or just north of $334 per sf, for Young CircleShopping Center, a 65,834-sf retail property located on about 3.3acres east of the traffic circle that joins Hollywood Boulevard andUS Highway 1. The price is more than double the average price paidfor five recent Broward County shopping centers that changed handsduring the first quarter of this year, according to a report fromthe area office of CB Richard Ellis.

"This is as good as you can get in South Florida," Doron Valero,president of Equity One, tells "It's urban. Hundreds,if not thousands of [residential] units are being built there, andthere's no land available. This has to be seen more like a New Yorkproperty where ground is one thing and vertical is another. Then,over $330-per-sf becomes much more desirable."

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