November 7, 2006
Webster Plaza sells for $17.8 million
By Jeff Lavery
Equity One Inc., a Florida-based real estate investment trust (REIT), has purchased Webster Plaza, a 200,681 square-foot shopping center in Webster for $17,825,000.
The plaza, located at 70 Worcester Road, will undergo a facade renovation to attract new and more upscale tenants. The center is currently 87 percent leased, including a Shaw's Supermarket and a Big Kmart.
Equity One Inc. plans to spend up to $250 million in the Northeastern and Mid-Atlantic metropolitan markets, and currently owns or has interests in 202 retail properties totaling 20.9 million square-feet and including 130 supermarket-anchored shopping centers.
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