SHOPPES AT SOUTHERN PALMS PURCHASED FOR $31.4 MILLION

SHOPPES AT SOUTHERN PALMS PURCHASED FOR $31.4 MILLION

Wellington, FL – January 20, 2012 – (RealEstateRama) — CBRE announced today the sale of Shoppes at Southern Palms, a 200,889-square-foot shopping center located on Southern Boulevard in Palm Beach County, Florida to New York-based Garrison Investment Group. Garrison acquired the property for $31.4 million from a joint venture between Panattoni Development Company and a client advised by Invesco Real Estate. CBRE’s National Retail Investment Group in Florida provided exclusive representation to the seller 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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