Equity One announces streamlining moves

Looking to increase the speed of decision-making and lower operating costs, Equity One (EQY) moves to have all leasing and property management functions to report to newly appointed COO Michael Makinen, who most recently held the same post at Olshan Properties.

The transition will result in the elimination of 14 existing positions, including 3 regional presidents; it also means the hiring of a new SVP of leasing and three new leasing positions focused on filling vacancies within the southeast and Florida portfolios. Annual savings are expected to be about $2M per year.

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  • s n o r f y
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    we live next door to a Trader Joe's shopping center where they are the major tenant and a REIT called Equity One actually owns the shopping center, we think. The way they are arranging it, via a politically connected zoning consultant who is acting as "straw man" for the shopping center before the local authorities - it is somewhat difficult to figure out what is going on. However, the shopping center - acting either for Trader Joe's, or possibly in concert with Trader Joe's, is using fraudulent and extremely heavy-handed tactics to expand the shopping center by way of a construction scheme that completely disregards local wetlands, and that utilizes extensive dynamiting in a dense residential area. They have absolutely no concern for the wetlands issues, the people who live nearby, the local laws and regulations ... it really is astonishing to see them "in action".


    It is disappointing to see a store like Trader Joe's that presents itself as "natural" and "organic" and so on, working in concert with a bunch of hard-nosed shopping center toughs (Equity One), getting ready to kick off an extensive explosives project in a dense residential neighborhood with families, children, seniors, and many pets - and completely disregarding the wetlands issues.


    I guess the "natural" and "wholesome" and "organic" values don't apply when it comes to developing their stores and shopping centers. And it is truly shocking how brazen they are in the "straw man" fraud, arm-in-arm with Equity One and the politically-connected local "straw man" zoning consultant who probably had to be brought on board because the project itself is so arrogant and heinous. And the wetlands at risk is a very vulnerable one. One that barely clings to its life as an ecosystem because it is a stone's throw from US-1, and commercial property operators like Equity One who could not care less about environmental and/or the human issues associated with extensive use of explosives in a dense residential area.
    8 Jul 2014, 01:49 AM Reply Like
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