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Equity One Buys Prime Canton Center

CANTON, GA-In an ongoing Georgia buying spree, the North Miami Beach, FL-based REIT pays Atlanta-based Sixes Commercial LLC a premium $14.1 million 78,654-sf, 94%-leased Market at BridgeMill.

By Alex Finkelstein | Updated on November 21, 2003

CANTON, GA-Equity One Inc. continues its year-long Georgia buying spree with the $14.1-million acquisition of The Market at BridgeMill, a three-year-old, 78,654-sf, 94%-leased shopping center in an affluent submarket here, 25 miles northeast of Downtown Atlanta.

The acquisition was the third this year for the North Miami Beach, FL-based REIT. Although his company paid a premium $179.26 per sf for the Publix supermarket-anchored property, Equity One chairman and CEO Chaim Katzman says the asset merited the price.

“The Market at BridgeMill exemplifies the type of neighborhood center we prefer to own, with a dominant grocer and a complementary mix of local tenants providing a range of daily goods and necessities,” Katzman says. “We have considerable operating advantages and economies of scale in the Atlanta market and will continue to seek additional investment opportunities.”

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