PRIME 96-ACRE LAND PARCEL PURCHASED FOR $9.75 MILLION

PRIME 96-ACRE LAND PARCEL PURCHASED FOR $9.75 MILLION

St. Petersburg, FL – March 9, 2012 – (RealEstateRama) — CBRE brokered the purchase of a 96-acre vacant land parcel just north of Gandy Boulevard along I-275 by Great Bay Distributors for $9.75 million. CBRE Senior Associate Jarib Rodriguez and Senior Vice President John Jenkins marketed the site for sale and negotiated the transaction on behalf of the seller, BB&T Bank. BB&T acquired the asset through foreclosure in early 2011.

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CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2011 revenue). The Company has approximately 34,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting.

Contact:

Robert W. McGrath
Senior Director, Corporate Communications

+1 212 9846515
+1 800 7996523 FREE

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