VERO BEACH RETAIL CENTER SELLS FOR $2.45 MILLION

    VERO BEACH RETAIL CENTER SELLS FOR $2.45 MILLION

    Vero Beach, FL – October 2, 2013 – (RealEstateRama) — CBRE’s Private Capital Group arranged the sale of Shoppes at Vero Mall, a 13,000-square-foot retail strip center located at 6480 20th Street, Vero Beach, Florida. Greeley Retail Partners, LLC of San Francisco acquired the property for $2.45 million, or $186.54 per square foot, from IRM Milan Investments, Inc., of Vero Beach. Mattress Firm, the leading mattress retailer in the United States, occupies approximately 50% of the gross leasable area. The property was 79% occupied at the time of sale. CBRE Vice President William Strauss represented the seller.

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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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