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PRIME 96-ACRE LAND PARCEL PURCHASED FOR $9.75 MILLION

Pinellas Gateway Land Acquired for Industrial Use

St. Petersburg, FL – March 9, 2012 – (RealEstateRama) — CBRE brokered the purchase of a 96-acre vacant land parcel just north of Gandy Boulevard along I-275 by Great Bay Distributors for $9.75 million. CBRE Senior Associate Jarib Rodriguez and Senior Vice President John Jenkins marketed the site for sale and negotiated the transaction on behalf of the seller, BB&T Bank. BB&T acquired the asset through foreclosure in early 2011.

The site is one of very few vacant land parcels in Pinellas County with a large block of contiguous space available for development. The majority of land in Pinellas County that remains available for development is considered irregular shaped, limiting the opportunity for new construction with a sizeable footprint.

Great Bay Distributors, Inc. is one of Florida’s largest distributors of Anheuser-Busch products.

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

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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