REEF PLAZA SOLD FOR $11.2 MILLION

REEF PLAZA SOLD FOR $11.2 MILLION

Fort Lauderdale, FL – February 28, 2012 – (RealEstateRama) — CBRE announced today the sale of Reef Plaza, a 112,500-square-foot shopping center, to Dacar Management, LLC for $11.2 million. CBRE represented Kimco Realty Corp., a real estate investment trust (REIT) that owns and operates North America’s largest portfolio of neighborhood and community shopping centers, in the sale of Reef Plaza. David Donnellan and Todd Weintraub of CBRE’s Private Capital Group partnered with Dennis Carson of the National Retail Investment Group to provide exclusive representation to Kimco in the transaction.

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CBRE

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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