Port St. Lucie, FL – July 15, 2016 – CBRE arranged the sale of a 51,627-square-foot office building located at 300 NW Business Center Drive in Port St. Lucie, Florida. A private investment firm acquired the two-story, single-tenant property. Ron Rogg and Chip Wooten (CBRE Orlando) and Mike Barker (CBRE Philadelphia) represented the seller, QVC, Inc., a wholly owned subsidiary of Liberty Interactive Corporation.
"Investors were drawn to a strong credit tenant and understood the building’s appeal as one of the best call-center locations in South Florida,” said Mr. Rogg, CBRE Executive Vice President. “Strong credit, predictable income, and a strategic location in an outperforming market all contributed to an excellent investment opportunity in today’s low-interest rate environment.”
Built in 1999, 300 Business Center Drive is one of the newest office properties in the submarket and offers the highest parking ratio in the market. The Class A building has large efficient floor plates and was originally constructed as a build-to-suit for QVC. The property was recently leased to PST Services Inc., a subsidiary of McKesson Corporation. A combination of asset quality, abundant parking, and a superb location minutes from Interstate-95 and a plethora of amenities make it one of the most highly desirable office locations in Port St. Lucie.
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 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 website at www.cbre.com.
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 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 website at www.cbre.com.
