Stiles’ expansion includes a new 300,000 square foot property management assignment. CLICK ON THE HEADLINE FOR MORE
A multi-million dollar renovation and capital improvement project is being rolled out with renovations starting as early as March. CLICK ON THE HEADLINE FOR MORE
Stiles Realty and Stiles Property Management announced two key hires – Senior Property Manager Devon Newton and Realty Associate Jennifer Doering – to support Stiles’ strategic growth in Miami-Dade county.
“We are very excited to welcome Jennifer and Devon to the team. They bring to Stiles a level of real estate experience and industry knowledge that benefits our partners, clients and tenants in the Miami-Dade market,” said Paul Marko, president of Stiles Realty. “The addition of these commercial professionals will bring a fresh perspective to Stiles’ expansion plans in Miami.”
Stiles’ expansion in Miami includes a new property management assignment at 444 Brickell in the downtown area. The approximate 300,000-square-foot office building features ground-floor retail and is recognized as the home of the iconic The Capital Grille restaurant. As the third largest property management company in South Florida, Stiles is responsible for the management of more than 700,000 square feet of office space in the Brickell area and approximately 12 million square feet throughout South Florida.
Newton, pictured right, is being charged with the overall management, operations, budgeting and tenant relations at the property. She comes to Stiles from Pointe Group Advisors, where she assisted with the operational and financial success of several commercial buildings in Broward County. She was honored in 2013 as the Building Owners and Managers Association (BOMA) Property Manager of the Year, in 2012 as the BOMA Outstanding Member of the Year, and was credited with receiving the first Energy Star Award for a House of Worship in the United States.
Doering, pictured left, joins Stiles Realty as a member of the leasing team at 800 Brickell, a 15-story, 208,325-square-foot office building in downtown Miami. Led by veteran leasing broker Michael Taylor, the team is focused on tenant expansion and retention at the iconic property, which is located directly across the street from the new Brickell City Centre project. Most recently, Doering served as Director of Leasing at the Design Center of the Americas, a 775,000-square-foot office and showroom complex. Prior to that role, Doering was an office leasing broker at Cushman and Wakefield in Miami.
“Each of these additions brings a unique background and significant potential to our business and our clients,” said Chris Rotolo, president of Stiles Property Management. “Devon’s strong management skills will help to sustain and grow tenancy at 444 Brickell.”
A co-development by veteran South Florida developer Butters Construction & Development and San Francisco-based Bristol Group has acquired one of Northwest Broward County’s largest and most prominent office buildings.
In an all-cash transaction, the partnership purchased the 205,000-square-foot building at 3111 N. University Drive with plans to reposition the 10-story building as Broward County’s premier suburban corporate center. The tower, which anchors Coral Springs’ main business district on University Drive just south of Sample Road, has been renamed University Place at City Center.
The name change is the first step in Butters’ and Bristol’s multi-prong strategy to reposition the property as a best-in-class office center. A multi-million dollar renovation and capital improvement project is being rolled out with renovations starting as early as March on upgrades and modernization of the building’s lobby atrium and new main entry. The newly rebranded University Place at City Center will also undergo full refurbishment of its front retail façade, which has immense street presence spanning nearly a half block along University Drive. A full upgrade of the building’s passenger elevator system, which includes two all-glass cabs that offer riders dramatic views of the lobby atrium, will be completed in February.
“This building was 90 percent leased five years ago, and was always regarded as one of the best office buildings in west Broward,” said Malcolm Butters, president of Butters. “We are confident that within a few years this building will regain its stature.”
Prior to the Butters and Bristol acquisition, the 10-story building, formerly known as Preferred Exchange Tower, had been controlled by a commercial mortgaged-back securities trust, which foreclosed on its previous ownership in 2012.
A servicer for the CMBS trust put the property on the market late last year with the Butters and Bristol team emerging as the winning party following a competitive bidding process.
“We saw an opportunity to acquire an irreplaceable asset in the Coral Springs market at a very competitive price,” said Rob Banovac, project manager with Bristol. “We knew this would give us a competitive advantage in the marketplace and allow us to quickly turn it around with well-capitalized, institutional ownership and an experienced leasing team.”
Adam Vaisman, director of acquisitions for Butters, worked with Bristol to craft the economic structure of the deal to capture the winning bid.
Darcie Lunsford and Molly McDonough, both senior vice presidents at Butters, will oversee leasing.
University Place at Center Center’s current tenant roster includes Scarborough Research, Community Bank of Broward and IPS Worldwide.
Stiles Hires Two In Strategic Growth Plan
/in News/by SFOBA STAFFStiles’ expansion includes a new 300,000 square foot property management assignment. CLICK ON THE HEADLINE FOR MORE
Butters, Bristol Group Buy Landmark Coral Springs Office Building
/in News/by SFOBA STAFFA multi-million dollar renovation and capital improvement project is being rolled out with renovations starting as early as March. CLICK ON THE HEADLINE FOR MORE