Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WARNER ROBBINS, GA-Following a strategy of selling off non-core assets, Equity One Inc. has sold its 15-year-old, 66%-leased, 227,747-sf Watson Central Shopping Center here for $6 million, or $26.35 per sf, to Ernest W. Livingston Jr. Area retail brokers tell GlobeSt.com the per-sf-price is at least 50% below replacement cost.

Equity One chairman and CEO Chaim Katzman says the REIT will recognize a $500,000 loss on the sale in the second quarter. Equity One also terminated the lease for the unoccupied Winn-Dixie store and will report termination revenue of $775,000.

Katzman says he is “pleased” with the deal, even at a loss, and “remains committed to an active process of selling non-core assets and recycling the capital into higher growth, urban infill properties in our target markets.”

Equity One’s 21-million-sf, 191-property portfolio consists of 129 supermarket-anchored shopping centers, 45 other retail-anchored properties, a self-storage facility, an industrial property and four retail developments.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.