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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.

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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