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LOS ANGELES-Equity REIT Federal Realty has started construction on the Point, an $80 million shopping, dining and entertainment center development in the South Bay. The 15,000-square-foot, open-air center will house 125 retail and restaurant tenants, and is estimated to open in 2015.

“We are excited that construction has begun on this dynamic new retail and social destination in the South Bay and look forward to creating a vibrant shopping experience for local residents and employees,” says Jeff Berkes, West Coast president of Federal Realty Investment Trust.

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