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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.

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