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PALMS PLAZA PURCHASED FOR $18.5 MILLION

PALMS PLAZA PURCHASED FOR $18.5 MILLION

Boca Raton, FL – September 13, 2011 – (RealEstateRama) — CB Richard Ellis (CBRE) announced today the sale of Palms Plaza, a 68,976-square-foot shopping center located in the heart of Boca Raton, to North American Development Group (NADG). Toronto/Florida-based NADG acquired the property for $18.5 million from Bell Partners Inc, a real estate firm based in Greensboro, NC. CBRE’s National Retail Investment Group in Florida provided exclusive representation to Bell Partners in the transaction.