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MarketScreener Homepage  >  Equities  >  Nyse  >  CBRE Group Inc    CBRE

CBRE GROUP INC (CBRE)
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CBRE : Arranges Sale of Plaza at Power Marketplace in Queen Creek, Arizona for $16.6 Million

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07/13/2018 | 12:15am CEST

PHOENIX - CBRE has completed the $16.6 million sale of Plaza at Power Marketplace, a ±70,961-square-foot shopping center located at 7225 S. Power Road and 18490-18550 E. Rittenhouse Road in Queen Creek, Arizona. The property is located near the Arizona State University Polytechnic Campus and the Phoenix-Mesa Gateway Airport.

Philip Voorhees and Jimmy Slusher with CBRE National Retail Partners - West, based in Orange County, California, and Steve Julius with CBRE's Phoenix office, arranged the sale on behalf of a private seller from New York and private buyer from California.

"The purchaser in this transaction, a family office based in Southern California, demonstrates the continued flow of capital from California to Arizona as buyers seek a wider available inventory and yields superior to those found in the coastal markets," Voorhees noted.

Built in 2007, Plaza at Power Marketplace is anchored by a high-performing LA Fitness, shadow-anchored by Home Depot and boasts a strong roster of national and regional tenant credits, including Taco Bell, Dunkin Donuts, and Edward Jones. The property was 93 percent leased at the time of sale.

The transaction also involved Jesse Goldsmith with CBRE's Phoenix office, Kirk Brummer, Sean Heitzler, John Read, Preston Fetrow, Matt Burson, Megan Wood and James Tyrrell with CBRE NRP-West, and Patrick Arangio, Jack Howard and Kurt Altvater with CBRE's National Loan and Portfolio Sale Advisors in New York.

The NRP-West team focuses exclusively on retail investment properties in the western states, including CA, OR, WA, NV, AZ and HI, representing the most accomplished retail investors in the US. The team's ability to collaborate across CBRE's multi-discipline platform enhances its role as strategic advisors to western U.S. clients in the disposition and acquisition of retail properties, and ensures the delivery of superior results in today's investment market. Long recognized as industry-leading investment experts, the NRP-West team continues to specialize in portfolio sales, anchored centers, strip centers, single-tenant assets, specialty retail projects, REO and Receivership assets and parcelized disposition strategy opportunities. Based in Orange County, California, the team consists of specialists with institutional and private client relationships and leverages institutional quality knowledge and service across unparalleled access to private capital investors and the brokers who represent them, domestically and around the world.

View listings: www.nrpwestlistings.com. 

About CBRE Group, Inc.

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 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 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.

Please visit our website at www.cbre.com.

Media Contact
Company Name: CBRE Group, Inc.
Contact Person: Nadja Brandt, Media and Communications Manager, So. CA
Email: Send Email
Phone: 213.613.3627
Address:400 S. Hope Street, 25th Floor
City: Los Angeles
State: California
Country: United States
Website: www.cbre.com



Copyright © 2018 Get News. All rights reserved., source Press Releases

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Financials ($)
Sales 2018 21 066 M
EBIT 2018 1 218 M
Net income 2018 970 M
Debt 2018 1 478 M
Yield 2018 -
P/E ratio 2018 16,14
P/E ratio 2019 14,68
EV / Sales 2018 0,81x
EV / Sales 2019 0,79x
Capitalization 15 532 M
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Number of Analysts 10
Average target price 52,2 $
Spread / Average Target 14%
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Robert E. Sulentic President, Chief Executive Officer & Director
Brandon Bridges Boze Chairman
Jack Durburg Global Chief Operating Officer
James R. Groch CFO & Global Director-Corporate Development
Chandra Dhandapani Chief Technology & Digital Officer
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