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Valley National Bank Moves To East Las Olas With 10-Year Lease Deal

August 8, 2016/in Done Deals, News/by SFOBA STAFF

Stiles Realty announced today that Valley National Bank has signed a 10-year lease deal at Stiles’ corporate headquarters located at 301 East Las Olas Blvd. in the heart of the downtown Fort Lauderdale financial district.

The financial institution and its more than 30 employees will occupy 3,600 square feet of prime ground floor bank space, which features an ATM directly on Las Olas Blvd., as well as 4,000 square feet of second floor office space for its wealth management and commercial lending operations.

Stiles Realty Senior Vice President Norm Adams represented the landlord in the transaction while Richard Kaufman, of Strategic Realty, represented the tenant.

“This move allows us to offer our clients enhanced services as well as all of the conveniences Las Olas Blvd. has to offer while positioning our brand in the center of the financial district,” said Rudy Schupp, Executive Vice President at Valley National Bank.

Valley National Bank will relocate from a former branch on South Federal Highway in Ft. Lauderdale. The move provides the bank with direct Las Olas exposure, covered parking and proximity to area nightlife, culture and entertainment. The bank space build-out is underway with a slated October opening.

“The deal further fortifies the financial district on Las Olas,” commented Adams. “This corner is highly desirable because of its access to retail, entertainment, restaurants and key financial services firms.”

Adams commented that lease rates on Las Olas have reached all-time highs, but he does not believe they are at their peak.

“The Las Olas corridor has very few options for new market entries. We expect additional rate growth due to the tightening market,” added Adams.

The Plaza at Las Olas features a manicured brick-paved drive around a central fountain, 24-hour security, elegant lobby with high-end finishes and hurricane glass. The property is surrounded by parking and is within walking distance to some of Fort Lauderdale’s most popular dining, entertainment and nightlife, including: YOLO restaurant; Vibe nightclub; FAU; Broward College; Broward Center for the Performing Arts; Fort Lauderdale Art Museum; and more.

In the center of six million square feet of commercial office and mixed-use space, the Plaza at Las Olas is immediately accessible to a daytime population of over 63,000 people. Over 2,200 new residential units are in development within a one-mile radius. Easily accessible from I-595, I-95 and US-1, The Plaza at Las Olas is within a ten-minute drive of Fort Lauderdale/Hollywood International Airport and Port Everglades.

Maddy Garcia, Tom Kates Filling Up 800 Fairway With 36,000 SF Of Lease Deals

August 20, 2014/in Done Deals, News/by SFOBA STAFF

Stiles Realty executed 35,734 square feet of leases in the past six months at the repositioned 800 Fairway office building in Deerfield Beach.

Stiles worked in concert on this property assignment with Virginia-based Divaris Real Estate, who is a CORE Network Partner.

Notably, Experian Information Solutions signed the second largest new lease in the building for 13,550 square feet over a 5-year term and United Schools Association signed a lease for 4,149 square feet over a 5-year term.

Comprised of 172,323 square feet amidst four floors, 800 Fairway is the largest multi-tenant office building in Deerfield Beach. The building is owned by American General Life Insurance Company and Stiles provides both leasing and management services on the property for the landlord.

“Tenants seeking quality, flexible space and a large amenity base have few options in Deerfield Beach,” said Stiles Realty Director Madelayne Garcia. “800 Fairway has found an effective market niche with its on-site amenities and is drawing attention from large and midsize users that find value in these services.”

According to Garcia, who represented the landlord along with Broker Associate Tom Kates in all of the transactions, leasing activity accelerated in response to the owner’s extensive renovation in mid-2013.

“800 Fairway’s reputation as the ideal option for larger users in Deerfield Beach is further augmented by its recent renovations, which have been a catalyst for additional leasing activity,” commented Garcia. “This building now offers tenants better quality amenities and a more dynamic business environment.”

800 Fairway underwent extensive interior and exterior upgrades that enriched its amenity base and differentiated it in the market. Notable features include a renovated fitness center with state-of-the-art equipment, lockers and showers, as well as a remodeled atrium lobby, expansive conference center, on-site café, secured parking, lit walking paths, and picnic shaded area.

In addition, renewals and expansions in recent months have accounted for much of the activity at 800 Fairway. Jonathan Brooks, P.A. expanded their lease by 2,401 square feet to occupy a total 8,298 square feet. Three lease renewals totaling 15,635 square feet were also executed, with two closing as recently as July 2014. Renewed tenants include Jacobs Engineering Group for 6,256 square feet, engineering firm Tildin, Lobnitz, Cooper for 4,743 square feet, and nurse employment agency Onward Healthcare for 4,636 square feet.

“We’re pleased with the strong leasing activity that has resulted from our successful repositioning of 800 Fairway,” said Garcia. “The building continues to attract high-quality businesses, which is a direct reflection of the ownership’s commitment to enhancing its quality and marketability.”

800 Fairway is located at 800 Fairway Drive – adjacent to I-95 and in between Hillsboro Blvd and SW 18th Street in Boca Raton.

Stiles Realty Expands Again With Two More Key Hires

June 3, 2014/in News/by SFOBA STAFF

As part of its continued strategic expansion in South Florida,Stiles Realty today announced two key hires to its industrial and office brokerage teams.

Mike Crissy joined the company as Industrial Sales and Leasing Associate and Brian Batchelder joined as Office Leasing and Sales Associate.

Both of these professionals carry more than a combined 30 years of commercial real estate experience. With the addition of Crissy and Batchelder, the company has welcomed four new agents in the last six months alone.

“We are very excited to welcome Mike and Brian to our team,” said Paul Marko, president of Stiles Realty. “As the market continues to recover, Stiles Realty is keeping pace, growing quickly in Miami and Fort Lauderdale to meet the needs of our clients. These two new additions bring to Stiles a depth of real estate experience and industry knowledge that adds dimension to our team and directly benefits our clients in South Florida.”

Crissy, pictured right, is charged with growing Stiles’ third party industrial and flex property sales and leasing business in South Florida. With more than 17 years of commercial real estate experience in markets across the nation, Crissy comes to Stiles from Pointe Group Advisors, where he led the Broward and Palm Beach County tenant representation and investment sales division. Prior to that, Crissy served with Jones Lang LaSalle in Miami-Dade as the exclusive tenant representative focused on corporate users throughout the Tri-County area. His most notable clients include GEICO, Janney Montgomery Scott, ESRI, Bank of America and United States Postal System. Crissy holds a bachelor’s degree from the University of Miami.

Batchelder’s primary focus is growing third-party business in the Fort Lauderdale and Palm Beach office markets. A Fort Lauderdale native, Batchelder brings more than 14 years of commercial real estate experience and local market knowledge to Stiles. Most recently, he served as a landlord representative for CBRE where he was responsible for more than 750,000 square feet of office, retail and land product. Batchelder’s track record includes about 150 leasing and sales transactions valued at more than $200 million. In addition, within the past five years he represented the State of Florida and Gilman & Ciocia in more than 50 transactions. Bachelder holds a bachelor’s degree in International Economics from Florida Atlantic University and is fluent in English and Spanish.

“It is all about timing,” commented Marko on what is driving Stiles’ expansion efforts. “We see a quick and steady recovery of the office and industrial markets in Broward with leasing and sales activity picking up over the past twelve months. We also continue to see positive absorption and increasing rental rates in key submarkets. Mike and Brian, in addition to all of our newest team members, will help service our clients and their expanding needs in South Florida.”

Crissy and Batchelder join Stiles Realty’s extensive sales and leasing team consisting of 15 professionals whose range of specialties also includes retail, land and marina properties. Stiles Realty has deep roots in the South Florida market and provides a full range of services including landlord representation, tenant representation and investment sales.

Stiles Hires Two In Strategic Growth Plan

February 12, 2014/in News/by SFOBA STAFF

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.”