1700 PALM BEACH LAKES SOLD FOR $18.5 MILLION

1700 PALM BEACH LAKES SOLD FOR $18.5 MILLION

West Palm Beach, FL – June 11, 2012 – (RealEstateRama) — CBRE arranged the sale of 1700 Palm Beach Lakes, a 113,953-square-foot office building for $18,462,500. CBRE market the asset for sale on behalf of DRA Advisors, and also secured $13,725,000 acquisition financing on behalf of the purchaser, Breaker’s Capital Partners LLC. The new owner has retained CBRE as exclusive leasing advisor as well.

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CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2011 revenue). The Company has approximately 34,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting.

Contact:

Robert W. McGrath
Senior Director, Corporate Communications

+1 212 9846515
+1 800 7996523 FREE

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