Saturday, March 22, 2008

CB Richard Ellis Awarded Exclusive Listing and Property Management Agreement for Posner Commons

ORLANDO, FL - CB Richard Ellis, leader in commercial real estate services worldwide, is pleased to announce the exclusive listing and property management agreement for Posner Commons, (rendering above) which is being developed by Trammell Crow Company's Atlanta office, headed by Larry Pantlin, in joint venture with Land Development and MetLife.

Jorge Rodriguez, CCIM and Associate with CB Richard Ellis, is the listing agent and Barbara Halgren, Real Estate Manager, is the property manager.

Posner Commons is a 630,000 square foot development at the Southeast corner of Interstate 4 and US Highway 27 in Polk County, is owned by Trammell Crow Company, MetLife, and the Posner Family. Rodriguez is very positive about this new development and the opportunities it brings to Polk County.

"Posner is one of the largest projects in central Florida to be delivered mid-2008. It has a captive audience in the Four Corners/Polk County trade area with limited competition within a 15-mile regional trade area," says Rodriguez. "Polk County is projected to be one of the fastest growing counties in Florida over the next 20 years."

This 368-acre development is the perfect place for America's largest retailers as well as junior anchors, small shops, and outpads. The park is currently 80% leased with available spaces starting at 1,400 square feet. Target opened on March 4th, (photo at left above) with a series of large retailers soon to follow. Belk opened its doors on March 12th (photo at right) and Books-A-Million on March 14th. Best Buy and Staples are tentatively set to open in early to mid-April. Some of the other great tenants include JCPenney, PetSmart, Dick's Sporting Goods, Michael's, and Ross.

Larry LoCascio, Director of Asset Services at CB Richard Ellis, says, "It's a huge win for Asset Service Retail leasing and management. This win solidifies the CBRE name brand and strength as the premier Retail real estate services provider in Orlando as well as in the State of Florida. We are very excited about the opportunity."

CONTACTS:
Jessica Wilhoite
407.839.3158
jessica.wilhoite@cbre.com

Jorge Rodriguez
407.404.5014
jorge.rodriguez@cbre.com

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