Profile: Equity One Inc (EQY)
29 Jul 2015
Equity One, Inc. (Equity One), incorporated on June 15, 1992, is a real estate investment trust (REIT). The Company owns, manages, acquires, develops and redevelops shopping centers and retail properties located in supply constrained suburban and urban communities. The Company’s subsidiaries include DIM Vastgoed, N.V. and C&C (US) No. 1, Inc. The Company’s property portfolio include Circle Center West, Culver Center, Aventura Square, Bird Ludlum, Greenwood, Pavilion, Sheridan Plaza, Shoppes of Silverlakes, Westport Plaza, Alafaya Village, Ryanwood, Treasure Coast, Plaza Escuela, Potrero, Copps Hill, Southbury Green, Clocktower Plaza, Buckhead Station, Hampton Oaks, Quincy Star Market, Elmwood Oaks, Westwood Complex, Centre Pointe Plaza and Westwood Towers, among others. These properties are located in Florida, California, Connecticut, New York, Georgia, Massachusetts, Louisiana, Maryland and North Carolina.
As of December 31, 2014, the Company’s consolidated shopping center portfolio comprised 122 properties, including 102 retail properties and five non-retail properties totaling approximately 13.5 million square feet of gross leasable area (GLA), nine development or redevelopment properties with approximately 1.6 million square feet of GLA upon completion, and six land parcels. As of December 31, 2014, its consolidated shopping center occupancy was 95% and included national, regional and local tenants. Additionally, it had joint venture interests in 18 retail properties and two office buildings totaling approximately 3.2 million square feet of GLA. All of its properties are owned in fee simple other than McAlpin Square located in Savannah, Georgia, Plaza Acadienne located in Eunice, Louisiana, El Novillo located in Miami, Florida and Darinor Plaza located in Norwalk, Connecticut, each of which is subject to a ground lease in favor of a third-party lessor. A small number of its other shopping centers include outparcels or portions of the center that are subject to ground leases.
The Company defines anchor tenants as tenants occupying a space consisting of 10,000 square feet or more of GLA. The categories under the anchor tenants include supermarket anchor tenants, other anchor tenants and non-anchor tenants. Equity One’s tenants (by annualized minimum rent) in its shopping center portfolio, including those properties under development or redevelopment include Albertsons / Shaw's / Star Market / Safeway / Vons; Publix; L.A. Fitness; Food Emporium / Pathmark; TJ Maxx / Homegoods / Marshalls; Bed Bath & Beyond / Cost Plus World Market; Barneys New York; CVS Pharmacy; Sports Authority and The Gap / Old Navy.
Equity One Inc
1600 NE Miami Gardens Dr
NORTH MIAMI BEACH FL 33179-4900