Equity One chairman and CEO Chaim Katzman didn't disclose thebuyers' names, average asking rents at the shopping center or whythe deals were done at this time. He says, however, in a preparedstatement that Equity One made $150,000 profit on the land sale and$1.1 million on the sale of the Millervillage Shopping Centerlocated at Millerville Road and the Old Hammond Highway in BatonRouge.

The center was built in 1983; renovated in 1992; and was 34%occupied at closing. The two-acre Miramar tract was sold for about$750,000 per acre or $17.22 per sf. The price is considered premiumfor the dirt located about three miles from Interstate 75 insouthwest Broward County, area industrial brokers familiar with thesite tell GlobeSt.com. The shopping center price equates to $28.55per sf, considered fair market value for a 34%-leased property,brokers say.Katzman says he is pleased with the dispositions.Equity One, with a portfolio of 186 properties consisting of 20.6million sf, "remains committed to an active process of sellingnon-core assets," the REIT's chief executive says.