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CB Richard Ellis/Hubbell Commercial Advises Bridgewood Plaza LC on $12 Million Transaction

WEST DES MOINES, Iowa (November 30, 2006) – CB Richard Ellis/Hubbell Commercial today announced that its Iowa Private Client Group advised Bridgewood Plaza LC in the sale of its 53,423 square foot retail strip center, located in West Des Moines, for $12 million. Iowa Realty Residential serves as the anchor tenant for the newly constructed retail center, which has an 83% occupancy. The retail center is located across from Jordan Creek Town Center, Iowa’s largest shopping center. CB Richard Ellis/Hubbell completed the transaction through a coordinated effort of its Iowa Private Client Group, consisting of Vice Presidents of CB Richard Ellis/Hubbell Commercial Linda M. Gibbs, CCIM, SIOR and Tim Sharpe, CCIM, SIOR. Through the vast nationally integrated network of private client group professionals, the Iowa Private Client Group is able to assist in the acquisition, disposition or exchange of commercial real estate.

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