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$24M Brings Naples Center Into Equity One Portfolio

NORTH MIAMI BEACH, FL-The locally based REIT paid about $144.04 per sf for the 168,005-sf shopping center, which was 93% leased. Tenants include a 50,795-sf Publix supermarket, Pavilion Theatres and Fleming's Prime Steakhouse.

By Melissa Bogdany | Updated on February 05, 2004

NORTH MIAMI BEACH, FL-Equity One Inc., a locally based REIT, has acquired the Pavilion Shopping Center in Naples, FL, for $24.2 million, or approximately $144.04 per sf. The seller of the center, which was 93% leased at press time, was CFS-I Pavilion LTD and Collier Development Corp.

The Pavilion Shopping Center totals 168,005 sf and is anchored by a 50,795-sf Publix supermarket, along with Pavilion Theatres, Anthony’s LadiesWear and Fleming’s Prime Steakhouse. In addition, the center has 75,394 sf of local space.

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