CBRE BROKERS $7.8 MILLION SALE OF NEIGHBORHOOD SHOPPING CENTER

VERO BEACH, FLA. — CB Richard Ellis (CBRE) has brokered the sale of South Vero Square, a 147,417-square-foot neighborhood retail center located in Vero Beach, for $7.8 million. Constructed in 1989, the center is situated at the corner of U.S. Highway 1 and Oslo Road. Its anchor tenant is Publix, and its outparcel tenants include Wendy’s, McDonald’s and Seacoast National Bank. Occupancy was 61.5 percent at the time of the sale. The CBRE team of David Donnellan, Todd Weintraub, Casey Rosen and Dennis Carson represented the seller, Florida-based Vero Beach Shopping Center Associates LP. The buyer was Indian River Holdings LLC.