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PALMETTO PROMENADE DEVELOPMENT SOLD FOR $20.1 MILLION

PALMETTO PROMENADE DEVELOPMENT SOLD FOR $20.1 MILLION

Boca Raton, FL – April 4, 2012 – (RealEstateRama) — CBRE arranged the sale of the 5.78-acre site known as Palmetto Promenade to Archstone New Development Holdings for $20,125,000. The land, currently zoned as DDRI (Downtown District of Regional Impact and R1D/DDRI (Residential Downtown District of Regional Impact), was a bank-owned property.

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CBRE

CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.

Contact:

Nadja Brandt
Corporate Communications, Pacific Southwest

+1 213 6133627