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LAKEWOOD SHOPPING CENTER SOLD FOR $31.5 MILLION

LAKEWOOD SHOPPING CENTER SOLD FOR $31.5 MILLION

Margate, FL – June 28, 2012 – (RealEstateRama) — CBRE announced today the sale of Lakewood Shopping Center, a 236,679-square-foot shopping center located on West Atlantic Boulevard in Margate, Florida. The property was acquired by an affiliate of Toronto/Florida-based North American Development Group (NADG) for $31.5 million from a wholly owned subsidiary of Inland American Real Estate Trust, Inc. CBRE’s National Retail Investment Group in Florida provided exclusive representation to the seller in the transaction.