CBRE Completes Sale of Neighborhood Center in Naples, FL
05 Oct 2018
Naples, Fla. - October 5, 2018 – CBRE announced the sale of Pebblebrooke Center, a 59,833 sq. ft. shopping center located at 15205 Collier Boulevard in Naples, FL. CBRE’s Dennis Carson, Casey Rosen and Todd Weintraub exclusively represented the seller, an affiliate of Metro Commercial based in New Jersey.
Pebblebrooke Center sits on a ±7-acre parcel and is exceptionally well located at the epicenter of Northeast Naples’ affluent and rapidly-growing luxury residential concentration. The property is adjacent to and shares cross-access with Shopppes of Pebblebrooke, which includes a long established and highly successful Publix grocery store.
“Pebblebrooke Center serves an affluent and fast-growing 3-mile trade area with average household incomes exceeding $100,000 and more than 3,000 residential units planned or in active development. The direct cross-access with Shoppes of Pebblebrooke and the neighborhood’s primary grocery store position it as the trade area’s primary retail destination” said Dennis Carson, Executive Vice President at CBRE.
“The center is 100% occupied and includes more than 30 internet-resistant neighborhood retail, food, service and medical tenants,” added Todd Weintraub, First Vice President at CBRE. “Most have operated at the property more than five years, so like Publix they are very well established.
”Based in Miami, Mr. Carson and Mr. Rosenlead CBRE’s National Retail Partners Florida Team and focus on the disposition of multi-tenant Class A retail investments across Florida and the Southeast US. Also based in Miami, Mr. Weintraub focuses on the disposition of multi-tenant shopping centers and single-tenant net leased investments throughout Florida.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of 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.