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CBRE RETAINED AS STRATEGIC ADVISORS FOR TAMPA’S AUSTIN CENTER

CBRE RETAINED AS STRATEGIC ADVISORS FOR TAMPA’S AUSTIN CENTER

Tampa, FL – June 1, 2015 – (RealEstateRama) — A mixed-use team of capital markets professionals from CBRE’s Tampa and Atlanta offices has been retained as the exclusive advisors for Redstone Investments, the new owners of Tampa, Florida’s Austin Center. The CBRE team includes Jay O’Meara, Dale Peterson, Dave Conn and Sean Williams – a combination of capital markets experts focused on office, retail and multifamily.

Redstone Investments closed on the five-building, 10-acre, 300,000-sq.ft. mixed-use retail and office space in April 2015. The property was developed by the late Tampa civic leader Al Austin in the late 1960s and has remained in the Austin family until Redstone’s recent acquisition.

Drawn to the prestige and prime location of the iconic Tampa development in the heart of Westshore district, a premier urban destination, Redstone is considering options and seeking the expertise and direction from CBRE. The primary responsibility, according to Lyle Fogarty, President of Redstone Properties, is to provide a smooth transition for the tenants in place, as the new owners and CBRE determine the most viable long-term strategies for the project.

The property’s owner is looking for a visionary development and investment partner to jointly determine the most viable long-term strategies for the property.

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.

About Redstone Investments:
Redstone Investments is a fully integrated commercial real estate service company with offices in Tampa, Florida, and Youngstown, Ohio. The privately held firm owns a diverse portfolio of more than 75 properties in 15 states totaling more than 4.5 million square-feet. Established in 1991, the Redstone Group of Companies specializes in all aspects of commercial real estate. Redstone’s capabilities include acquisitions, development, construction, commercial brokerage services and distressed debt acquisition. For further information on the company and its services, please visit http://www.redstoneinvestments.com.

Contact:
Elizabeth Cross
305.428.6373
elizabeth.cross (at) cbre (dot) com
Daniel Jimenez
407.839.3191
danieljimenez (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