Strip center with new O'Reilly Auto Parts tenant acquired from Tarrybrooke Square 185 LLC

CBRE arranged the sale of Tarrybrooke Square, a 17,943-square-foot strip retail center located at 2835 N. Military Trail in West Palm Beach, Florida. Tenants include a new O’Reilly Auto Parts store – a publicly-traded national chain – which will occupy 40% of the shopping center. Tarrybrooke Partners LLC purchased the property for $2.99 million from Tarrybrooke Square 185 LLC, a private equity fund, which hired CBRE to market the asset for sale and negotiate the transaction.

“The new lease with O’Reilly Auto Parts really solidified the rent roll with a nice balance of local and national tenants,” said David J. Donnellan, Senior Vice President with CBRE. “There was substantial interest in the property as investors continue to be very attracted to highly-visible, well-located, unanchored shopping centers in Southeast Florida.”

David Donnellan and Patricia Friend managed the sale on behalf of the seller. Based in Fort Lauderdale, Donnellan and Friend are part of CBRE’s Investment Properties Group, which focuses on the disposition of multi-tenant shopping centers in South Florida.

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 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 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.