Fort Lauderdale, FL – August 13, 2013  – CBRE’s Private Capital Group arranged the sale of a freestanding single-tenant building occupied by an experienced Arby’s franchisee. The property is located at 9970 Belvedere Road in Royal Palm Beach, Palm Beach County, Florida. The buyer, Intel Group, LLC, purchased the property for $1,135,000 from Tobnic, LLC, a private investor who hired CBRE to market the asset for sale and negotiate the transaction.

Arby’s occupies a 3,005-square-foot freestanding building on a 0.99-acre site. The property is an outparcel to a 230,000-square-foot Walmart SuperCenter located at a high-traffic intersection with exceptional visibility to Belvedere Road and State Road 7 in western Palm Beach County.

“In operation since 2004, this Arby’s is strategically located to serve the high-growth potential residential market that includes Royal Palm Beach and Wellington,” said Dave Donnellan, First Vice President with CBRE.

“Investors continue to exhibit extremely strong demand for single-tenant, net-leased investments, even in cases such as this where the term of lease is relatively short and where the strength of the underlying real estate becomes much more of a factor,” added Todd Weintraub, Senior Associate with CBRE.  

The CBRE team of David Donnellan and Todd Weintraub represented the seller in the transaction. Donnellan and Weintraub are part of the CBRE’s Private Capital Group, based in Fort Lauderdale, and focus on the disposition of shopping centers and single-tenant net-leased properties.

Since 2003, CBRE’s Multi-housing Group has closed over 300 multi-housing transactions, representing 85,000 units and over $12 billion in real estate assets within Florida. On the hotel front, CBRE has closed 62 transactions in the state of Florida for a total consideration of $850 million. Nationally, in 2012 alone, CBRE Hotels completed $1.3 billion of hospitality transaction volume.

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 2012 revenue).  The Company has approximately 37,000 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.