The newly created venture provides both parties with access to a range of real estate construction project opportunities. CLICK ON THE HEADLINE FOR MORE
Berger’s Joseph Byrnes and Greg Milopolous handled the deal for the two-story suburban office building property. CLICK ON THE HEADLINE FOR MORE
In an unprecedented move to expand construction and development operations throughout the Southeast U.S. and beyond, the Seminole Tribe of Florida, Inc. and Stiles Construction, a division of Stiles, announced a new joint venture partnership to create Seminole Development and Construction, LLC.
The newly created venture provides both Seminole Tribe of Florida, Inc. and Stiles with access to a range of real estate construction project opportunities within the Native American tribal network and also includes projects planned under the auspices of the U.S. federal government.
The first project to emerge from the partnership is Seminole Classic Casino, a 140,000-square foot renovation at 4150 North State Road 7 in Hollywood, FL. The six-month long renovation was completed in January 2013 and included a complete transformation of the building’s exterior and interior, as well as upgrades to the parking lot and landscaping. Other Seminole projects in the pipeline include Brighton Public Safety Complex and a new Noodle Bar at the Hard Rock Seminole Casino.
“Our partnership with Stiles opens a world of opportunity for the Seminole Tribe of Florida, Inc. and for all Native American tribes,” said Tony Sanchez, President of the Seminole Tribe of Florida Inc. “Maintaining our unique Seminole culture while providing the highest level of service to our clients and partners is our first priority, and we believe that with Stiles’ family-owned structure, superior values and first-class reputation, this partnership will lead to new projects that will increase our market share, expand and diversify the Seminole Tribe business operations and create substantial value for our tribe as well as our fellow Native American tribes.”
With this partnership, the Seminole Tribe of Florida, Inc. will be able to offer its vast tribal network Stiles’ 60 years of construction expertise, substantial resources, accomplished staff and diverse range of development and construction services. Seminole Development and Construction will have an opportunity to pursue a variety of planned and new construction projects within the Seminole Tribe of Florida, Inc. real estate portfolio. Furthermore, the combined entity will also market construction services to other Native American tribes and pursue federal 8(a) set-aside contracting work, including judicial, military and naval air station projects, that is only accessible to federally recognized groups.
“It is an honor to join forces with the Seminole Tribe of Florida, Inc. to create a powerful partnership that will allow us to enter into new markets and offer exceptional construction and development services to the Seminole Tribe of Florida, Inc. as well as to their expansive Native American Tribal network,” said Timothy Moore, President of Stiles Construction. “We are proud to have launched our partnership with the transformation of the Classic Casino into a state-of-the-art facility, and look forward to several more great projects together.”
Headquartered in Hollywood, Florida, the Seminole Tribe of Florida is a sovereign government with an elected Tribal Council. The tribe has achieved remarkable success since it became the first U.S. Indian tribe to open high stakes bingo halls in 1979. In 2004, the Seminole Tribe of Florida opened two Seminole Hard Rock Hotels and Casinos in Florida. With the March 2007 acquisition of the Hard Rock franchise, the Seminole Tribe of Florida added the prestige of one of the world’s most respected brands. The economic stability provided by gaming, combined with their cattle, citrus, and other business enterprises, has made the Seminole Tribe of Florida one of the most successful native Indian business tribes in the U.S. today.
Berger Commercial Realty has closed a 10,000-square-foot lease on behalf of Black Oak Partners at 2005 Vista Parkway in West Palm Beach, the brokerage announced.
Berger’s Joseph Byrnes and Greg Milopolous handled the deal for the two-story suburban office building property.
Black Oak had bought the property for $3.73 million in July from Design Arts of Palm Beach. Since that time, Berger’s Tim Hackett has managed the 41,899-square-foot property.
Stiles Enters Into Unprecedented Joint Venture Partnership
/in News/by SFOBA STAFFThe newly created venture provides both parties with access to a range of real estate construction project opportunities. CLICK ON THE HEADLINE FOR MORE
Berger Closes 10,000 SF Lease
/in Done Deals/by SFOBA STAFFBerger’s Joseph Byrnes and Greg Milopolous handled the deal for the two-story suburban office building property. CLICK ON THE HEADLINE FOR MORE