Shopping Center at Epicenter of Retail Community
Vero Beach, FL – March 2, 2012 – (RealEstateRama) — CBRE arranged the sale of Vero Beach Corners, a strategically located retail center, exceptionally well positioned in the Indian River Mall submarket for long-term growth and success. Situated at the “main and main” intersection of State Road 60 and Kings Highway, the center was acquired for $1.35 million from ORIX Capital Markets, based in Dallas, by Vero Beach Corners Retail Center, LLC.
Built in 2001, the Class B/Retail Strip property located at 5445 20th Street (Route 60) contains nearly 13,000 square feet, with six tenant spaces. The center was 73 percent occupied at closing.
CBRE Vice President William Strauss, First Vice President Dave Donnellan, and Senior Associate Todd Weintraub represented ORIX Capital Markets in the transaction.
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 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. Please visit our Web site at www.cbre.com.
Contact:
Elizabeth Cross
Marketing Director, FL
305.428.6373
elizabeth.cross (at) cbre (dot) com
Lauren Crawford
Communications & Media Manager, FL
813.273.8482
lauren.crawford (at) cbre (dot) com
