CB Richard Ellis Group Inc. said fourth quarter net earnings rose 31 percent, fueled by strong sales and leasing activity, particularly overseas.

After Tuesday’s market close, the Los Angeles-based commercial real estate services giant reported net income of $125.1 million, or 53 cents per share, compared with $95.4 million (41 cents) for the same period a year ago.

Excluding one-time items, the company earned $134.2 million (57 cents), beating by a penny the consensus of analysts surveyed by Reuters Estimates. Revenue rose 36.6 percent to $1.4 billion, compared to analyst forecasts of $1.14 billion.

Chief Executive Brett White said in a statement that commercial real estate continues to be a strong draw for institutional and private-equity capital. “Worldwide economic expansion and increased employment rolls have produced strong demand for commercial space,” he said.

In guidance for 2007, the company sees earnings per share growth of 25 to 30 percent, excluding one-time charges.

Shares of CB Richard Ellis gained 6 cents to close at 38.48 in regular trading on the New York Stock Exchange.