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.