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CBRE CLOSES SALE OF WELL-LOCATED DANIA BEACH INDUSTRIAL ASSET

CBRE CLOSES SALE OF WELL-LOCATED DANIA BEACH INDUSTRIAL ASSET

Ravenswood Industrial acquired by Flooring King for $2.5 million

Dania Beach, FL – July 7, 2015 – (RealEstateRama) — CBRE arranged the sale of a freestanding, 29,770-square-foot industrial property prominently located at the corner of Ravenswood and Stirling Roads in Dania Beach, Florida. The Ravenswood Industrial asset, which sits on a 2.1-acre property at 5950 Ravenswood Road, was acquired from Trust Number BM-1 by Flooring King for $2.5 million. The Flooring King is currently located at 59 S.W. 12th Ave Suite 106, in Dania Beach, FL 33004 in 5,000 square feet and is expanding into the full 29,770 square feet available at Ravenswood Industrial.

CBRE Broward County-based industrial brokers Larry Genet and Tom O’Loughlin, SIOR represented the seller in the transaction.

“This well-located warehouse distribution facility constituted a rare opportunity to buy in an extremely tight Southeast Broward industrial market,” said CBRE Senior Associate Larry Genet. “Our team used its knowledge of buyers in the market to sell this asset off-market having no exclusive listing agreement.”

With both Stirling Road and Ravenswood Road frontage, Ravenswood Industrial features 18’5” clear heights, fenced secure trailer parking, 10 dock-high doors, five rear-load rail doors, and 35-by-25-foot column spacing. Its strategic location in the Griffin and Stirling Road area provides access to I-95, Port Everglades and the Fort Lauderdale-Hollywood International Airport.

The buyer was represented by Zoila Maya-Sustiel of Turnberry International Realty.

About CBRE Group, Inc.
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 and investment firm (in terms of 2014 revenue). The Company has more than 52,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 370 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. Please visit our website at www.cbre.com.

Contact:
Elizabeth Cross
305.428.6373
elizabeth.cross (at) cbre (dot) com
Melinda Sherwood
305.381.6453
melinda.sherwood (at) cbre (dot) com

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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