Tag Archive for: stiles

Stiles Sells Building In Prime Location For Near Record

/in , /by

Stiles has closed the $3.3 million sale of a 10,052-square-foot building situated on a 33,723-square-foot lot at 325 SW 26th Street in Fort Lauderdale.

The $328 per square foot sale price was among the highest in the airport/port district in the past two years.

Stiles Senior Vice President Kimberly Barbar represented the seller in the transaction. Joe Mongillo of LoKation Real Estate represented the purchaser, 325 SW 26th Street LLC, which plans on relocating its business operation from California.

“It’s rare to find a site this large with a remodeled, move-in ready building already on the property,” said Barbar. “Couple that with a superb location within minutes of both a busy international airport and one of the largest ports in the U.S. and it made this a very attractive property.”

Set on 0.77 acres, the building features a wide open floor plate, a remodeled interior and exterior, two commercial kitchens, new impact windows and doors and a large parking lot on both sides of the building. Situated less than a mile from the Fort Lauderdale-Hollywood International Airport and Port Everglades and minutes from I-595 and downtown Fort Lauderdale, the building also has prominent signage potential and access.

Barbar is also representing the owner of a superbly-located building with unmatched visibility along Fort Lauderdale’s premier retail corridor. 2871 N Federal Highway is a flexible showroom and office space located near top-tier shopping destinations with excellent surrounding demographics. The building has more than 200 feet of frontage on N Federal Highway (U.S. 1).

 

Shutts & Bowen Expansion, Zions Bank Lease Bring The Main Las Olas To 100% Leased

/in , /by

Blanca Commercial Real Estate announced that The Main Las Olas office component is now 100% leased, twenty four months after receiving its temporary certificate of occupancy with the 3,670 RSF expansion of Shutts & Bowen and new tenant Zions Bank leasing 3,931 RSF of office space.

The property is a 1.4 million-square-foot, mixed-use office, residential and retail community featuring Class A offices, stunning high-end architecture, chic residences and destinations for gathering, dining and shopping. The 25-story property features a 387,402-square-foot tower, 17,355 square feet of total retail space, a 2,951-square-foot fitness center, 3,360-square-foot office lounge and conference center, along with an outdoor terrace featuring a fire pit, bar and glass floor oculus with panoramic views of Las Olas and the beach with event and conference space.

The property’s leasing team is led by Danet Linares, executive vice chairman of Blanca Commercial Real Estate, alongside Christina Jolley, senior vice president; Sky Jones, associate vice president; and Tere Blanca, chairman & CEO.

The Main Las Olas was developed by Shorenstein Properties LLC and Stiles, two real estate leaders with development track records spanning more than a century, and was designed by nationally acclaimed architecture firm Cooper Carry.

Shutts & Bowen was represented by Zach Wendelin and Kevin Probel of CBRE, Inc.

Tenants at The Main Las Olas include financial, legal, real estate and insurance sectors, both relocation and new-to-market, solidifying the continued demand for office space in Fort Lauderdale. Moxies and Fogo de Chão will occupy the anchor retail on the ground floor of The Main Las Olas. Tenants include, among others:

  • JPMC 
  • Marcum
  • RSM 
  • Starr Indemnity
  • Raymond James
  • Cherry Bekaert 
  • Synovus Bank
  • Walker Dunlop
  • Starboard Value

“We are thrilled to reach this milestone,” said Linares, Executive Vice Chairman of Blanca Commercial Real Estate. “Over the last year, flight-to-quality remained at the forefront of all major office moves and the uptick of new-to-market demand translated into the stellar performance of new office developments and top-tier existing Class A office space.”

Shorenstein and Stiles developed The Main Las Olas, anticipating the demand for high-quality, luxury office space with world-class architecture and amenities that differentiate the property as the preferred choice for corporate users and its employees. As the only office building in the region offering businesses a full range of amenities, conference space and ceiling heights and surpassing anything else in the market, The Main Las Olas has been the premier choice for companies migrating to South Florida due to the pandemic.

The Main Las Olas is the first new construction class A office space in downtown Fort Lauderdale in more than a decade, further solidifying Broward County’s downtown core as a major player in the commercial real estate office sector. Low taxes and quality of life compared to other major cities are two of the big factors driving the continued migration to South Florida including downtown Fort Lauderdale, one of the most dynamic and growing urban centers in the region. Well-known companies headquartered in Broward County include AutoNation, Citrix, Spirit, Virgin Voyages, Microsoft’s Latin American headquarters, Royal Caribbean International, Chewy, and Hotwire Communications. Other major companies with a significant presence include American Express, Chiquita, JetBlue, Marriott, and DHL.

“We are extremely pleased with the success of The Main Las Olas, the first luxury office of its kind,” said Charles Malet, President and Chief Investment Officer at Shorenstein. “The property underscores Shorenstein’s continued focus on developing differentiated, best-in-class office properties in attractive and growing markets. As preferences for office spaces continue to evolve, we believe these types of top-quality spaces will remain the desired choice for tenants nationwide.”

 

“Along with our partner Shorenstein, we set out to establish a new bar for luxury urban office, not only in Fort Lauderdale, but in all of South Florida,” said Stiles CEO Ken Stiles. “The Main Las Olas offers a truly distinctive integrated work, life and entertainment experience with an unmatched level of quality, amenities and design. We are proud to have had the opportunity to continue our 72 year track record of quality development with this iconic project.”

 

Stiles Lists Building in Highly Desirable Location Near Port Everglades, Fort Lauderdale Airport & I-595

/in /by

Stiles has released to market 325 SW 26th Street in Fort Lauderdale, a supremely located, newly-renovated office/flex building situated on an oversized lot minutes from Fort Lauderdale International Airport and Port Everglades. Senior Vice President Kimberly Barbar is handling the sale.

325-SW-26th-St-Fort-Lauderdale-FL-325-SW-26th-Street-1-HighDefinition

Set on 0.77 acres, the ±10,052-square-foot building features both office and warehouse space, a remodeled interior and exterior, two commercial kitchens, new impact windows and doors and a large parking lot on both sides of the building. Situated less than a mile from the Fort Lauderdale-Hollywood International Airport and Port Everglades and minutes from I-595, the building also has prominent signage potential and superb access.

“I’m thrilled to list this rare opportunity in Broward County’s most desirable submarket, minutes from downtown,” said Barbar. “This building offers many desirable advantages including ample room for a modern office buildout, chic warehouse space and a ghost kitchen with a very large lot that is suitable for a wide array of uses.”

 

Downtown Fort Lauderdale Leasing Veteran Norm Adams Joins CBRE As Senior Vice President

/in /by

CBRE has hired Norm Adams, who will serve as Senior Vice President in CBRE’s Fort Lauderdale office. Mr. Adams continues a career of pursuing investor leasing opportunities in downtown Fort Lauderdale and Broward County.

“Norm is a proven office advisor with more than 30 years of experience in the downtown market,” said David Bateman, Managing Director for CBRE’s offices in Fort Lauderdale, Boca Raton and West Palm Beach. “Not only is he a Fort Lauderdale native and resident, but Norm has the highest leasing volume in the history of downtown Fort Lauderdale. We are excited to welcome him to CBRE.”

Mr. Adams comes to CBRE from South Florida-based full-service real estate firm Stiles, where he oversaw the company’s downtown Class-A office portfolio. In his new role at CBRE, he will continue to represent Stiles, leasing over 300,000 square feet in their downtown Fort Lauderdale portfolio including the Class-A buildings Plaza at Las Olas and AutoNation Tower.

“I’m excited to join CBRE and engage with their global platform that’s known for delivering best-in-class real estate solutions to its clients,” said Mr. Adams.

Joining CBRE is a homecoming for Mr. Adams as he also spent ten years working for Trammell Crow Company. In his career, he has executed more than 500 transactions, valued over $500 million. His accolades include NAIOP’s Broker of the Year and Office Lease of the Year.

 

 

Stiles’ Norm Adams Signs Lease With Accounting Firm At The Main Las Olas Office Tower In Downtown Fort Lauderdale

/in , /by

Stiles Senior Vice President Norm Adams secured a 10-year lease deal with Templeton & Company accounting and consulting firm at The Main Las Olas located at 201 E. Las Olas Blvd. in the heart of downtown Fort Lauderdale.

Delivered in November 2020, The Main Las Olas is the newest Class A, amenity-rich office tower developed on Las Olas Blvd. in more than two decades.

Templeton & Company, one of the region’s leading accounting and consulting firms with offices in West Palm Beach and Fort Lauderdale, is relocating from 301 E. Las Olas to The Main Las Olas. Templeton provides a broad spectrum of services to its clients including assurance, tax, family office and consulting. The firm plans to occupy the space in January 2022.

“We reached an exciting point in our company’s evolution and our professionals need office space that reflects the high caliber service that we offer our clients and supports our business growth objectives,” said Steve Templeton, Founder and President of Templeton & Company. “The Main Las Olas unquestionably provides the preeminent venue to best meet our clients’ needs and serve as our Fort Lauderdale headquarters for family office services to our high-net-worth families.”

Spanning a full city block, The Main Las Olas redefines the city’s epicenter with 1.4 million square feet of mixed-use office, residential and retail space that stands alone across South Florida as nothing short of revolutionary.

“In this new environment, tenants want a combination of amenities and location, and The Main Las Olas delivers the highest standards of both,” said Adams. ”Templeton chose to establish a new base where they could elevate their business profile and grow in a safe, secure facility offering the highest level of technology and features in office today.”

Combining a dramatic and stunning 25-story all-glass design by nationally acclaimed architecture firm Cooper Cary, the tower offers nearly 370,000 square feet of efficient, modern and forward-thinking office space, expansive 12-foot, floor-to-ceiling windows that draw maximum light, and world-class amenities. Connected to 341-unit apartment tower Novo Las Olas, which features the area’s first Publix GreenWise grocer on the ground floor, the building’s outdoor and indoor amenity spaces, conference centers and state of the art fitness center rival even the most cutting edge office buildings found across the region.

The Main Las Olas, developed by joint venture partners Stiles and San Francisco-based Shorenstein Properties LLC, welcomed its first tenant, law firm Akerman LLP, in November and is currently 40 percent leased. Stiles is a 69-year-old, full service commercial real estate firm headquartered in Fort Lauderdale with offices across the Southeastern United States.

 

Office Leasing Veterans Join New Firms

/in /by

Pike Rowley, Avison Young Principal and Managing Director of the firm’s operations in Florida, announced the appointment of Paul Marko as Avison Young Principal.

Marko will be focused on serving and advising office occupiers in South Florida.

“Office occupiers are facing major decisions about their office needs and workforce,” said Rowley. “With exceptional industry expertise and market knowledge, Paul is positioned to provide clients with data-driven insights and solutions that meet their business needs.”

This year, the South Florida office market has seen overall rent growth begin to decelerate due to an increasing supply pipeline, and a record amount of office space under construction with significant deliveries expected by year end. At the same time, companies are taking an active holistic and strategic view of office footprints in a post-pandemic world to meet the expectations of their workforce and business needs.

“Avison Young is a great match for my skill set; its recent expansion of consulting across the Americas and investment in technology and innovation will help drive my ability to use data and analytics to fuel insights for the companies and industries I serve,” said Marko. “The firm’s culture of collaboration, integrated services and client-centric approach are consistent with my own business approach, helping to provide solutions to clients for the issues of today and tomorrow.”

Marko has more than 30 years of experience in commercial real estate across office tenant representation, buyer broker services, lease/portfolio administration, project management and consulting. He joins Avison Young after eight years at Stiles Realty, where he served as President overseeing the leasing and sales division. Prior to Stiles, Marko served as First Vice President at CBRE in Ft. Lauderdale in the firm’s global corporate services and office tenant advisory services groups. He is a graduate of Florida Atlantic University.

CBRE announced that industry veteran Madelayne Garcia has joined the firm as senior vice president of Advisory and Transaction Services, specializing in office landlord representation across South Florida. Ms. Garcia joins CBRE with more than 25 years of commercial real estate experience.

“We are thrilled to welcome Madelayne to our South Florida team,” said David Bateman, Managing Director at CBRE. “She brings a wealth of experience, and we are confident that her contributions will continue strengthening and expanding our capabilities in landlord representation in our region.”

Ms. Garcia joins CBRE from Stiles Realty, where she was since 2001. Prior to Stiles, Ms. Garcia was the Director of Leasing at The Hogan Group. During her tenure at The Hogan Group, she represented Royal Palm at SouthPointe, a joint venture between The Hogan Group and Credit Suisse First Boston.

Ms. Garcia has won several awards throughout her career, including CoStar Power Broker Award from 2006 to 2019, the Florida Real Estate Journal’s Top Woman in Commercial Real Estate Award, Daily Business Review’s “Top Dealmaker of the Year – Leasing”, among others.