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  • CBRE Applies Cost-Saving Project Management Services to Bring First Cato Fashions to Davenport, FL

CBRE Applies Cost-Saving Project Management Services to Bring First Cato Fashions to Davenport, FL

July 15, 2016
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​Orlando, FL – July 15, 2016 – CBRE Project Management and Asset Services Management teams arranged the arrival of Cato Fashions at Posner Commons, a vibrant Class A retail destination at 2400 Posner Boulevard in the Davenport area of Central Florida. Project Manager Drew Nasrallah and Senior Real Estate Manager Wendy Williford applied CBRE’s cost savings advantage to set the stage for Cato’s store opening in Davenport on June 28th. CBRE Retail Services also arranged the 4,211-square-foot lease on behalf of the tenant.

“In addition to advising with site selection and leasing, CBRE fully managed this project from design through occupancy. Leveraging an understanding of Cato’s processes and procedures, we worked with their internal construction team to deliver value through the coordination and oversight of contractors, and ultimately saw the space delivered in time to meet an aggressive grand-opening schedule,” said Mr. Nasrallah.

The new home of Cato Fashions is an 80-acre, 630,000 square foot regional power center developed by the Trammell Crow Company. Numbering among Central Florida’s most centrally located and popular shopping destinations, Posner Commons is located at the intersection of Highway 27 and I-4.  Anchor tenants include Target, Best Buy, Books-A-Million, Dick's Sporting Goods, Cinepolis IMAX, JC Penney, Michaels, Petsmart, Ross and Staples. In addition to Cato, other featured tenants are Payless Shoesource, Kay Jewelers, Dollar Tree, rue21, GNC, and Cicis Pizza.

“A strong tourism base, along with healthy consumer spending and a recovering economy, is helping drive demand for retail space in Central Florida. Cato is just one of many retailers to discover that this market in general, and Posner Commons in particular, offers a compelling opportunity,” said CBRE’s Michael Battey, who arranged the lease for Cato.
 
Posner Commons is part of the larger Victor Posner City Center, a 366-acre development approved for 1.2 million square feet of commercial space, 1 million square feet of office space, 2,000+ units of multi-family, 2,500 hotel rooms, and 500,000 square feet of industrial space.
 
Cato is a leading specialty retailer of value-priced women’s fashion apparel, jewelry, shoes and accessories. Committed to high quality and low prices, Cato operates more than 1,000 stores in 32 states, with 53 Cato stores located throughout 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 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.

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