Sunday, August 10, 2008

CB Richard Ellis Named Exclusive Sales Agent for 184-Unit Apartment Community in Orlando, FL

ORLANDO, FL-- CB Richard Ellis, the world's leading commercial real estate services provider, has been named the exclusive sales agent for The Outrigger Apartments (top right photo) located at 1001 Shoreview Drive in Orlando, Fla. The 184-unit property consists of 17 two-story garden-style apartment buildings with an average unit size of 754 sq. ft.

Shelton Granade, (top left photo) first vice president, and Luke Wickham,(bottom right photo) associate, have been retained to exclusively represent the owner of the residential community.

"The Outrigger offers potential investors a great opportunity to acquire a stabilized, infill asset with tremendous upside potential," Granade said. "The property is a value-add opportunity next to the prestigious Baldwin Park planned community and just five minutes from downtown Orlando. As gas prices continue to rise, infill communities like Outrigger should be in high demand."

Built in 1975, The Outrigger Apartments is located near the intersection of State Road 50 (Colonial Drive) and State Road 436 (Semoran Boulevard).

CONTACTS:

Rebecca Thomas, 305.381.6485, rebecca.thomas@cbre.com

Shelton Granade, shelton.granade@cbre.com

Luke Wickham, luke.wickham@cbre.com

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