SELECTQUOTE EXPANDS & RENEWS FOR LONG-TERM LEASE AT 701 SAN MARCO

February 22, 2012

by CBRE

Term life insurance broker grows to add 45 new jobs

Jacksonville, FL – February 22, 2012 – (RealEstateRama) — CBRE announced today the expansion and renewal of term life insurance broker, SelectQuote, at 701 San Marco Boulevard for 15,231 square feet. CBRE negotiated the transaction on behalf of the landlord.

“The long-term commitment speaks to the growing confidence tenants have in the market. The professional services industry in particular showed sustained growth through 2011 and tenants are ready to commit at today’s exceptional lease terms,” said CBRE Senior Associate Traci Jenks, CCIM.

The 15,231-sq.-ft. lease represents an expansion of 4,408 square feet. SelectQuote intends to bring 45 new positions to Jacksonville. In addition to this location, the firm has offices in California.

“Jacksonville’s educated employee base is very attractive to professional services providers,” added Jenks.

701 San Marco is a Class A approximately 700,000-SF office tower located in the Downtown Southbank submarket. At 82% occupancy, the building exceeds the average of 75% occupancy for Class A space in the Downtown CBD submarket.

“In addition to the strong institutional ownership and attractive lease rates, the views of downtown and the river are strong features of 701 San Marco,” said Jenks.

Built in 1985, the 19-story building overlooks the St. Johns River and Downtown. 701 San Marco features an on-site restaurant, 24-hour security, covered parking and a 5 per 1,000 square foot parking ratio.

Several upper-level floors remain available for lease.

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 firm (in terms of 2011 revenue). The Company has approximately 34,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 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 Web site at www.cbre.com.

Contact:

Elizabeth Cross
Marketing Director, FL
305.428.6373
elizabeth.cross (at) cbre (dot) com

Lauren Crawford
Communications & Media Manager, FL
813.273.8482
lauren.crawford (at) cbre (dot) com