CBRE ARRANGES SALE OF LA FITNESS IN STUART FOR $10.95 MILLION

Fort Lauderdale, FL – July 2, 2013 – (RealEstateRama) — CBRE’s Private Capital Group arranged the sale of LA Fitness located at 1901 NW Federal Highway, in Stuart, Martin County, Florida. The buyer, Realty Income Corporation, purchased the property for $10,950,000 from Jensen Beach Investors, LLC. The property was developed by Pointe Development Company, a Miami-based real estate development, management and investment firm whose president is Alan Sakowitz. Pointe hired CBRE to market the asset for sale and negotiate the transaction

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CBRE

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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