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

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